Thu, Aug 15, 8:32 PM (152 days ago)
For the fiscal year ending June 30, 2024, GraniteShares Platinum Trust reported significant financial growth, with total assets increasing from $34,934,000 in 2023 to $43,136,000 in 2024, reflecting a 23.5% rise in net asset value (NAV). The Trust's NAV per share rose 12.3% from $8.73 to $9.80, driven by a 12.8% increase in platinum prices, from $897 to $1,012 per ounce. The Sponsor's fee for the year was $187,695, consistent at 0.5% of the Trust's assets. The Trust's operations saw a net increase in assets from operations of $4,768,000, compared to $669,000 in the previous year. The number of outstanding shares rose from 4,000,000 to 4,400,000, with 850,000 shares created and 450,000 redeemed during the year. Key risk factors include platinum price volatility, geopolitical tensions, and market liquidity issues, particularly related to Authorized Participants’ ability to redeem shares, which may lead to price discrepancies. The Trust remains an emerging growth company, navigating regulatory exemptions while managing operational risks associated with its passive investment strategy.