What changed in this filing

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Item 1. Financial Statements

2021-08-06 compared with 2021-05-07 · 159 added, 114 removed, 232 unchanged (54% of the section changed)

Financial Statements

of Assets and Liabilities

March 31, 2021 (Unaudited) and December 31, 2020

Statements of Assets and Liabilities

At June 30, 2021 (Unaudited) and December 31, 2020

(Amounts in 000’s of US$, except for Share and per Share data)

Investment in platinum (cost:

March 31, 2021:

June 30, 2021:

$ 1,238,585 ;

4 unchanged sentences

NET ASSETS (1)

share capital is unlimited with no par value per Share.

Shares issued and outstanding at March 31, 2021 were 13,800,000 and

at December 31, 2020 were 13,300,000 .

Net asset values per Share at March 31, 2021 and December 31, 2020 were $ 110.48 and

$ 99.97 , respectively.

Notes to the Financial Statements

STANDARD PLATINUM ETF TRUST

of Investments

March 31, 2021 (Unaudited) and December 31, 2020

March 31, 2021

Authorized share capital is unlimited with no par value per Share.

Shares issued and outstanding at June 30, 2021 were 13,750,000 and at December 31, 2020 were 13,300,000 .

Net asset values per Share at June 30, 2021 and December 31, 2020 were $ 98.83 and $ 99.97 , respectively.

See Notes to the Financial Statements

ABERDEEN STANDARD PLATINUM ETF TRUST

Schedules of Investments

At June 30, 2021 (Unaudited) and December 31, 2020

June 30, 2021

% of Net Assets

7 unchanged sentences

Less liabilities

Notes to the Financial Statements

STANDARD PLATINUM ETF TRUST

of Operations (Unaudited)

the three months ended March 31, 2021 and 2020

March 31, 2021

March 31, 2020

See Notes to the Financial Statements

ABERDEEN STANDARD PLATINUM ETF TRUST

Statements of Operations (Unaudited)

For the three and six months ended June 30, 2021 and

Three Months Ended

June 30, 2021

Three Months Ended

June 30, 2020

Six Months Ended

June 30, 2021

Six Months Ended

June 30, 2020

(Amounts in 000’s of US$, except for Share and per Share data)

5 unchanged sentences

Realized gain / (loss) on platinum distributed for the redemption of Shares

Change in unrealized gain / (loss) on investment in platinum

Total gain/(loss) on investment in platinum

Change in unrealized (loss) / gain on investment in platinum

Total (loss)/gain on investment in platinum

Change in net assets from operations

$ ( 158,323 )

$ ( 102,417 )

Net increase / (decrease) in net assets per Share

1 unchanged sentence

Notes to the Financial Statements

STANDARD PLATINUM ETF TRUST

of Changes in Net Assets (Unaudited)

the three months ended March 31, 2021 and 2020

Three Months Ended March 31, 2021

ABERDEEN STANDARD PLATINUM ETF TRUST

Statements of Changes in Net Assets (Unaudited)

For the three and six months ended June 30, 2021 and

Three Months Ended June 30, 2021

Three Months Ended June 30, 2020

(Amounts in 000’s of US$, except for Share data)

Opening balance at January 1, 2021

Opening balance

Net investment loss

Realized gain on investment in platinum

Change in unrealized gain on investment in platinum

Closing balance at March 31, 2021

Three Months Ended March 31, 2020

Realized gain / (loss) on investment in platinum

Change in unrealized (loss)/gain on investment in platinum

Closing balance

Months Ended June 30, 2021

Months Ended June 30, 2020

(Amounts in 000’s of US$, except for Share data)

Opening balance at January 1, 2020

Opening balance

Net investment loss

Realized (loss) on investment in platinum

Realized gain / (loss) on investment in platinum

Change in unrealized (loss) on investment in platinum

( 1,150,000 )

Closing balance at March 31, 2020

Notes to the Financial Statements

STANDARD PLATINUM ETF TRUST

Highlights (Unaudited)

the three months ended March 31, 2021 and 2020

Closing balance

See Notes to the Financial Statements

ABERDEEN STANDARD PLATINUM ETF TRUST

Financial Highlights (Unaudited)

For the three and six months ended June 30, 2021 and

Three Months Ended

March 31, 2021

June 30, 2021

Three Months Ended

March 31, 2020

June 30, 2020

Six Months Ended

June 30, 2021

Six Months Ended

June 30, 2020

Per Share Performance (for a Share outstanding throughout the entire period)

9 unchanged sentences

Total return, net asset value (2)

for periods less than one year.

return is not annualized.

Notes to the Financial Statements

Annualized for periods less than one year.

Total return is not annualized.

See Notes to the Financial Statements

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

Standard Platinum ETF Trust (the “Trust”) is a common law trust formed on December 30, 2009 (the “Date

of Inception”) under New York law pursuant to a depositary trust agreement (the “Trust Agreement”) executed

Standard Platinum ETF Trust (the “Trust”) is a common law trust formed on December 30, 2009 under New York law pursuant to a depositary trust agreement (the “Trust Agreement”) executed

by Aberdeen Standard Investments ETFs Sponsor LLC (the “Sponsor”) and The Bank of New York Mellon as Trustee (the

The Trust holds platinum bullion and issues Aberdeen Standard Physical Platinum Shares ETF (“Shares”)

in minimum blocks of 50,000 Shares (also referred to as “Baskets”) in exchange for deposits of platinum

and distributes platinum in connection with the redemption of Baskets.

Shares represent units of fractional undivided beneficial

interest in and ownership of the Trust which are issued by the Trust.

The Sponsor is a Delaware limited liability company and

a wholly-owned subsidiary of Aberdeen Standard Investments Inc.

ASII is a wholly-owned indirect subsidiary

of Standard Life Aberdeen plc.

The Trust holds platinum bullion and issues Aberdeen Standard Physical Platinum Shares

ETF (“Shares”) in minimum blocks of 50,000 Shares (also referred to as “Baskets”) in exchange for

deposits of platinum and distributes platinum in connection with the redemption of Baskets.

Shares represent units of

fractional undivided beneficial interest in and ownership of the Trust which are issued by the Trust.

The Sponsor is a Delaware

limited liability company and a wholly-owned subsidiary of Aberdeen Standard Investments Inc.

wholly-owned indirect subsidiary of abrdn (formerly known as Standard Life Aberdeen) plc.

The Trust is governed by the Trust Agreement.

June 25, 2021, Christopher Demetriou resigned as President and Chief Executive Officer of the Sponsor.

Demetriou had served

as Principal Executive Officer of the Registrant.

Effective June 25, 2021, Steven Dunn was appointed President and Chief Executive

Officer of the Sponsor.

Dunn will serve as Principal Executive Officer of the Registrant.

investment objective of the Trust is for the Shares to reflect the performance of the price of platinum, less the Trust’s

8 unchanged sentences

opinion of the Trust’s management, all adjustments (which consist of normal recurring adjustments) necessary to present

fairly the financial position and results of operations as of and for the three months ended March 31, 2021 and

for all periods presented have been made.

fairly the financial position and results of operations as of and for the six months ended June 30, 2021 and for

all periods presented have been made.

financial statements should be read in conjunction with the Trust’s Annual Report on Form 10-K for the fiscal year ended

December 31, 2020.

The results of operations for the three months ended March 31, 2021 are not necessarily indicative

of the operating results for the full year.

The results of operations for the three and six months ended June 30, 2021 are not necessarily

indicative of the operating results for the full year.

Accounting Policies

13 unchanged sentences

determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value.

ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly

transaction between market participants at the measurement date.

held by JPMorgan Chase Bank, N.A.

(the “Custodian”), on behalf of the Trust, at its London, England vaulting premises.

may also be held by UBS AG, or any other firm selected by the Custodian to hold the Trust’s platinum in the Trust’s allocated account in the firm’s vault premises on a segregated basis and whose appointment has been approved by the Sponsor.

At March 31, 2021, approximately 2.26 % of the Trust’s platinum was held by one or more sub-custodians.

ASC 820 defines fair

value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market

participants at the measurement date.

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

of Platinum (continued)

The Trust's platinum is

held by JPMorgan Chase Bank, N.A.

(the “Custodian”), on behalf of the Trust, at its London, England vaulting premises.

The Trust's platinum

may also be held by UBS AG, or any other firm selected by the Custodian to hold the Trust’s platinum in the Trust’s

allocated account in the firm’s vault premises on a segregated basis and whose appointment has been approved by the Sponsor.

At June 30, 2021, approximately 2.27 % of the Trust’s platinum was held by one or more sub-custodians.

The Trust's platinum

is recorded at fair value.

16 unchanged sentences

in platinum through the Statement of Operations.

per Share amount of platinum exchanged for a purchase or redemption is calculated daily by the Trustee using the LME PM

Fix to calculate the platinum amount in respect of any liabilities for which covering platinum sales have not yet been

made, and represents the per Share amount of platinum held by the Trust, after giving effect to its liabilities, to cover

expenses and liabilities and any losses that may have occurred.

per Share amount of platinum exchanged for a purchase or redemption is calculated daily by the Trustee using the LME PM Fix

to calculate the platinum amount in respect of any liabilities for which covering platinum sales have not yet been made,

and represents the per Share amount of platinum held by the Trust, after giving effect to its liabilities, to cover expenses

and liabilities and any losses that may have occurred.

Value Hierarchy

10 unchanged sentences

and that would be based on the best information available.

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination

2 unchanged sentences

instruments categorized in level 3.

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

of Platinum (continued)

inputs used to measure fair value may fall into different levels of the fair value hierarchy.

2 unchanged sentences

lowest level input that is significant to the fair value measurement in its entirety.

The Trust's investment in platinum is classified as a level 1 asset, as its value

is calculated using unadjusted quoted prices from primary market sources.

Trust’s investment in platinum is classified as a level 1 asset, as its value is calculated using unadjusted

quoted prices from primary market sources.

categorization of the Trust’s assets is as shown below:

(Amounts in 000’s of US$)

June 30, 2021

December 31, 2020

Investment in platinum

There were no transfers between levels during the three months

ended March 31, 2021.

The Trust’s platinum was transferred from Level 2 to Level 1 at December 31, 2020.

There were no transfers between levels during the

three months ended June 30, 2021.

Receivable and Payable

4 unchanged sentences

of platinum is transferred within two business days of the trade date.

At March 31, 2021 and December 31, 2020, the Trust had

no platinum receivable or payable for the creation or redemption of Shares.

At June 30, 2021, the Trust had no platinum receivable

or payable for the creation or redemption of Shares.

At December 31, 2020, the Trust had no platinum receivable

or payable for the creation or redemption of Shares.

and Redemptions of Shares

19 unchanged sentences

the amount of platinum represented by the Baskets being created or redeemed, the amount of which is based on the combined

NAV of the number of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem

Baskets is properly received.

NAV of the number

of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

and Redemptions of Shares (continued)

Participants may, on any business day, place an order with the Trustee to create or redeem one or more Baskets.

23 unchanged sentences

Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined

that no reserves for uncertain tax positions are required as of March 31, 2021 and December 31, 2020.

in ounces of platinum and their respective values for the three months ended March 31, 2021 and 2020 are set

March 31, 2021

March 31, 2020

that no reserves for uncertain tax positions are required as of June 30, 2021 or December 31, 2020.

in ounces of platinum and their respective values for the three and six months ended June 30, 2021 and 2020

are set out below:

Three Months Ended

June 30, 2021

Three Months Ended

June 30, 2020

(Amounts in 000’s of US$, except for ounces data)

3 unchanged sentences

Closing balance

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

Three Months Ended

June 30, 2021

Three Months Ended

June 30, 2020

Investment in platinum

3 unchanged sentences

Realized gain / (loss) on platinum transferred to pay expenses

Change in unrealized gain / (loss) on investment in platinum

Change in unrealized (loss) / gain on investment in platinum

Closing balance

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

Six Months Ended

June 30, 2021

Six Months Ended

June 30, 2020

(Amounts in 000’s of US$, except for ounces data)

Ounces of platinum

Opening balance

( 108,203.7 )

Transfers of platinum to pay expenses

Closing balance

Investment in platinum

Opening balance

Realized gain / (loss) on platinum distributed for the redemption of Shares

Transfers of platinum to pay expenses

Realized gain / (loss) on platinum transferred to pay expenses

Change in unrealized (loss) on investment in platinum

Closing balance

/ Realized Gains / Losses

Trust will transfer platinum to the Sponsor to pay the Sponsor’s Fee that accrues daily at an annualized rate equal

to 0.60 % of the adjusted daily net asset value (“ANAV”) of the Trust, paid monthly in arrears.

expense of the Trust is the Sponsor’s Fee, which is paid by the Trust through in-kind transfers of platinum to the Sponsor.

The Trust will transfer platinum to the Sponsor to pay the Sponsor’s Fee that accrues daily at an annualized rate equal

of the adjusted daily net asset value (“ANAV”) of the Trust, paid monthly in arrears.

Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly

2 unchanged sentences

audit fees and up to $ 100,000 per annum in legal expenses.

the three months ended March 31, 2021 and 2020, the Sponsor’s Fee was $ 2,187,594 and $ 994,697 ,

respectively.

the three months ended June 30, 2021 and 2020, the Sponsor’s Fee was $ 2,208,592 and $ 951,400 , respectively.

the six months ended June 30, 2021 and 2020, the Sponsor’s Fee was $ 4,396,187 and $ 1,946,097 , respectively.

30, 2021 and at December 31, 2020, the fees payable to the Sponsor were $ 666,971 and $ 665,333 , respectively.

respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion,

sell the Trust’s platinum as necessary to pay these expenses.

When selling platinum to pay expenses, the Trustee

will endeavor to sell the smallest amounts of platinum needed to pay these expenses in order to minimize the Trust’s

holdings of assets other than platinum.

Other than the Sponsor’s Fee, the Trust had no expenses during the three

months ended March 31, 2021 and 2020.

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own

discretion, sell the Trust’s platinum as necessary to pay these expenses.

When selling platinum to pay expenses, the

Trustee will endeavor to sell the smallest amounts of platinum needed to pay these expenses in order to minimize the

Trust’s holdings of assets other than platinum.

Other than the Sponsor’s Fee, the Trust had no

expenses during the three and six months ended June 30, 2021 and 2020.

otherwise directed by the Sponsor, when selling platinum the Trustee will endeavor to sell at the price established by the

2 unchanged sentences

The Custodian may be the purchaser of such platinum only if the

sale transaction is made at the next LME PM Fix or such other publicly available price that the Sponsor deems fair, in each

case as set following the sale order.

A gain or loss is recognized based on the difference between the selling price and the average cost

of the platinum sold.

Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale.

sale transaction is made at the next LME PM Fix or such other publicly available price that the Sponsor deems fair, in each case

as set following the sale order.

A gain or loss is recognized based on the difference between the selling price and the average

cost of the platinum sold.

Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any

gains and losses result from the transfer of platinum for Share redemptions and / or to pay expenses and are recognized on

5 unchanged sentences

Sponsor and the Trustee are considered to be related parties to the Trust.

The Trustee and the Custodian and their affiliates may

from time to time act as Authorized Participants and purchase or sell Shares for their own account, as agent for their customers and

for accounts over which they exercise investment discretion.

In addition, the Trustee and the Custodian and their affiliates may

from time to time purchase or sell platinum directly, for their own account, as agent for their customers and for accounts over

which they exercise investment discretion.

The Trustee’s and Custodian’s fees are paid by the Sponsor and are not

separate expenses of the Trust.

STANDARD PLATINUM ETF TRUST

to the Financial Statements (Unaudited)

The Trustee and the Custodian and their affiliates

may from time to time act as Authorized Participants and purchase or sell Shares for their own account, as agent for their customers

and for accounts over which they exercise investment discretion.

In addition, the Trustee and the Custodian and their affiliates

may from time to time purchase or sell platinum directly, for their own account, as agent for their customers and for accounts

over which they exercise investment discretion.

The Trustee’s and Custodian’s fees are paid by the Sponsor and are

not separate expenses of the Trust.

Concentration

26 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements