What changed in this filing

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Item 1. Financial Statements

2023-08-09 compared with 2023-05-09 · 89 added, 50 removed, 317 unchanged (30% of the section changed)

1 unchanged sentence

Statements of Assets and Liabilities

At March 31, 2023 (Unaudited) and December 31, 2022

March 31, 2023

At June 30, 2023 (Unaudited) and December 31, 2022

June 30, 2023

December 31, 2022

1 unchanged sentence

Investment in platinum (cost:

March 31, 2023:

June 30, 2023:

December 31, 2022:

$ 1,028,086 )

Platinum receivable

Fees payable to Sponsor

1 unchanged sentence

NET ASSETS (1)

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

Shares issued and outstanding at March 31, 2023 were 10,600,000 and at December 31, 2022 were 11,500,000 .

Net asset values per Share at March 31, 2023 and December 31, 2022 were $ 90.59 and $ 95.35 , respectively.

(1) Authorized

share capital is unlimited with no par value per Share.

Shares issued and outstanding at June 30, 2023 were 10,800,000 and at

December 31, 2022 were 11,500,000 .

Net asset values per Share at June 30, 2023 and December 31, 2022 were $ 82.71 and $ 95.35 , respectively.

See Notes to the Financial Statements

1 unchanged sentence

Schedules of Investments

At March 31, 2023 (Unaudited) and December 31, 2022

March 31, 2023

At June 30, 2023 (Unaudited) and December 31, 2022

June 30, 2023

% of Net Assets

1 unchanged sentence

Total investment in platinum

Less liabilities

Other assets less liabilities

December 31, 2022

6 unchanged sentences

Statements of Operations (Unaudited)

For the three months ended March 31, 2023 and 2022

March 31, 2023

March 31, 2022

For the three and six months ended June 30, 2023 and

June 30, 2023

June 30, 2022

June 30, 2023

June 30, 2022

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

5 unchanged sentences

Realized gain on platinum distributed for the redemption of Shares

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

Total (loss) / gain on investment in platinum

Change in unrealized (loss) on investment in platinum

Total (loss) on investment in platinum

Change in net assets from operations

$ ( 135,227 )

Net increase / (decrease) in net assets per Share

Weighted average number of Shares

See Notes to the Financial Statements

Notes to the Financial Statements

abrdn Platinum ETF Trust

Statements of Changes in Net Assets (Unaudited)

For the three months ended March 31, 2023 and 2022

Three Months Ended March 31, 2023

For the three and six months ended June 30, 2023 and

Three Months Ended June 30, 2023

Three Months Ended June 30, 2022

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

Opening balance at January 1, 2023

Opening balance

Net investment loss

1 unchanged sentence

Change in unrealized (loss) on investment in platinum

( 1,100,000 )

Closing balance at March 31, 2023

Three Months Ended March 31, 2022

Closing balance

Six Months Ended June 30, 2023

Six Months Ended June 30, 2022

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

Opening balance at January 1, 2022

Opening balance

Net investment loss

Realized gain on investment in platinum

Change in unrealized gain on investment in platinum

Closing balance at March 31, 2022

See Notes to the Financial Statements

Change in unrealized (loss) on investment in platinum

( 1,550,000 )

( 1,250,000 )

Closing balance

abrdn Platinum ETF Trust

Financial Highlights (Unaudited)

For the three months ended March 31, 2023 and 2022

March 31, 2023

March 31, 2022

For the three and six months ended June 30, 2023 and

Three Months Ended

June 30, 2023

Three Months Ended

June 30, 2022

Six Months Ended

June 30, 2023

Six Months Ended

June 30, 2022

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

32 unchanged sentences

Effective February 28, 2023, Brian Kordeck was appointed Treasurer and Chief Financial Officer of the Sponsor.

serve as Principal Financial Officer of the Registrant.

Kordeck serves as Principal Financial Officer of the Registrant.

The investment objective of the Trust is

8 unchanged sentences

In the 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, 2023, and all periods presented have been made.

of normal recurring adjustments) necessary to present fairly the financial position and results of operations as of June 30,

2023, and for the three and six month periods then ended have been made.

These financial statements should be read in conjunction with

1 unchanged sentence

The results of operations for the three

months ended March 31, 2023 are not necessarily indicative of the operating results for the full year.

and six months ended June 30, 2023 are not necessarily indicative of the operating results for the full year.

Significant Accounting Policies

78 unchanged sentences

(Amounts in 000’s of US$)

March 31, 2023

Investment in platinum

There were no transfers between levels during the three months ended March 31, 2023 or the year ended December 31, 2022.

There were no transfers between levels during the six months ended June 30, 2023 or the year ended December 31, 2022.

Platinum Receivable and Payable

4 unchanged sentences

days of the trade date.

At March 31, 2023, the Trust had no platinum receivable or payable for the creation or redemption

At December 31, 2022, the Trust had no platinum receivable or payable for the creation or redemption

At June 30, 2023, the Trust had $ 4,149,509 of platinum receivable for the creation of Shares

and no platinum payable for the redemption of Shares.

At December 31, 2022, the Trust had no platinum receivable

or payable for the creation or redemption of Shares.

Creations and Redemptions

31 unchanged sentences

In order to ensure that

the correct amount of platinum is available at all times to back the Shares, the Sponsor accepts an adjustment to its management

fees in the event of any shortfall or excess on each transaction.

the correct amount of platinum is available at all times to back the Shares, the Sponsor accepts an adjustment to its Sponsor Fee in the event of any shortfall or excess on each transaction.

For each transaction, this amount is not more than 1/1000th of

13 unchanged sentences

tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are

required as of March 31, 2023 or December 31, 2022.

required as of June 30, 2023 or December 31, 2022.

Investment in Platinum

Changes in ounces of platinum and their respective values

for the three months ended March 31, 2023 and 2022 are set out below:

March 31, 2023

March 31, 2022

for the three and six months ended June 30, 2023 and 2022 are set out below:

Three Months Ended

June 30, 2023

Three Months Ended

June 30, 2022

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

1 unchanged sentence

Opening balance

Transfers of platinum to pay expenses

Closing balance

abrdn Platinum ETF Trust

Notes to the Financial Statements (Unaudited)

Three Months Ended

June 30, 2023

Three Months Ended

June 30, 2022

Investment in platinum

Opening balance

Realized gain on platinum distributed for the redemption of Shares

Transfers of platinum to pay expenses

Realized gain on platinum transferred to pay expenses

Change in unrealized (loss) on investment in platinum

Closing balance

Six Months Ended

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

Ounces of platinum

Opening balance

( 143,196.1 )

( 120,778.5 )

Transfers of platinum to pay expenses

5 unchanged sentences

Realized gain on platinum transferred to pay expenses

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

Change in unrealized (loss) on investment in platinum

Closing balance

abrdn Platinum ETF Trust

Notes to the Financial Statements (Unaudited)

Expenses / Realized Gains

4 unchanged sentences

of the Trust, paid monthly in arrears.

abrdn Platinum ETF Trust

Notes to the Financial Statements (Unaudited)

The Sponsor has agreed to assume administrative and marketing

2 unchanged sentences

(the “SEC”) registration fees, printing and mailing costs, audit fees and up to $ 100,000 per annum in legal expenses.

For the three months ended March 31, 2023 and

For the three months ended June 30, 2023 and

2022, the Sponsor’s Fee was $ 1,459,177 and $ 1,716,082 , respectively.

At March 31, 2023 and at December 31, 2022, the fees

For the six months ended June

30, 2023 and 2022, the Sponsor’s Fee was $ 2,971,368 and $ 3,459,174 , respectively.

At June 30, 2023 and at December 31, 2022, the fees

payable to the Sponsor were $ 435,621 and $ 554,247 , respectively.

5 unchanged sentences

Other than the Sponsor’s

Fee, the Trust had no expenses during the three months ended March 31, 2023 and 2022.

Fee, the Trust had no expenses during the three and six months ended June 30, 2023 and 2022.

Unless otherwise directed by the Sponsor, when selling platinum

12 unchanged sentences

and average cost of platinum transferred.

abrdn Platinum ETF Trust

Notes to the Financial Statements (Unaudited)

Subsequent Events

33 unchanged sentences

of these events could have a material effect on the Trust’s financial position and results of operations.

abrdn Platinum ETF Trust

Notes to the Financial Statements (Unaudited)

Indemnification

8 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