Fri, Jun 6, 9:10 PM (6 days ago)
### VanEck Merk Gold ETF (OUNZ) Q1 2025 Financial Summary **Financial Health and Performance:** - **Net Assets:** Increased by 26.44% to $1,662,219,685 from $1,314,597,389. - **Net Asset Value (NAV) per Share:** Rose by 17.59% to $31.76 from $27.01. - **Shares Outstanding:** Grew to 52,339,392 from 48,664,686. **Revenue and Profit Margins:** - **Net Increase in Net Assets:** $237,960,710, driven by a net realized gain of $3,223,795 and a net change in unrealized appreciation on gold bullion of $235,630,882. - **Sponsor’s Fees:** $893,967, up from $516,393 in the previous quarter. **Cash Flow:** - **No cash balances** reported at the end of the quarter. - **Sponsor’s fee paid in shares:** 29,998 shares for the quarter. **Earnings Changes:** - **Net Realized Gain:** $3,223,795 from gold bullion distributed for redemptions. - **Net Change in Unrealized Appreciation:** $235,630,882 on investment in gold bullion. **Quarterly Performance Discussion:** - **Gold Bullion Holdings:** Increased to 504,597 fine ounces from 469,450. - **Market Conditions:** Positive trends in gold prices contributed to the increase in NAV. - **Operational Efficiency:** No significant changes in operational expenses other than the sponsor’s fee. **Trends and Uncertainties:** - **Gold Price Volatility:** Fluctuations in gold prices remain a key risk factor. - **Market Demand:** Continued investor interest in gold as a safe-haven asset. - **Regulatory Environment:** Stable regulatory conditions with no significant changes reported. **Future Operations Impact:** - **Sponsor’s Fee Adjustment:** The sponsor’s fee remains at 0.25% of NAV, accrued daily and paid monthly. - **Marketing and Operational Support:** Continued support from the marketing agent, with fees paid from the sponsor’s fee. - **Liquidity and Capital Resources:** No significant liquidity concerns, with the sponsor assuming most expenses. **Ticker:** OUNZ **Conclusion:** VanEck Merk Gold ETF (OUNZ) demonstrated strong financial performance in Q1 2025, driven by favorable gold price movements and effective operational management. The ETF continues to benefit from investor demand for gold as a hedge against market uncertainties. The sponsor’s fee structure and marketing support remain key factors in maintaining operational efficiency and market visibility.