Fri, Feb 28, 9:57 PM (51 days ago)
The abrdn Precious Metals Basket ETF Trust (GLTR) reported a significant increase in its financial performance for the year ended December 31, 2024. The Trust's net asset value (NAV) rose to $1,039,953 from $958,831 in the previous year, reflecting an 8.46% increase, driven by a 20.02% rise in the Proportionate Price of the underlying precious metals. The number of outstanding shares decreased to 9,500,000 from 10,450,000 due to net redemptions of 1,175,000 shares. The Sponsor’s Fee for 2024 was $6,060,263, consistent with a 0.60% annualized rate. The Trust's assets consist solely of bullion, with fair values of $683,521 for gold, $277,468 for silver, $31,905 for platinum, and $47,595 for palladium. The Trust's unrealized gains increased substantially, amounting to $156,624,422. The Trust's operational strategy remains passive, with no active management of bullion to mitigate price fluctuations. Key risks include price volatility of precious metals, operational challenges in creating and redeeming shares, and potential conflicts of interest involving the Sponsor. The Trust is not registered under the Investment Company Act, limiting investor protections. Overall, the Trust's financial condition reflects robust performance amid fluctuating bullion markets.