The abrdn Gold ETF Trust reported significant financial growth for the fiscal year ending December 31, 2024, with its net asset value (NAV) increasing by 32.9% to $3.76 billion, up from $2.83 billion in 2023. This growth was driven by a rise in the price of gold, which increased 25.6% from $2,078.40 per ounce at the end of 2023 to $2,610.85 per ounce at the end of 2024. The number of outstanding shares also rose, from 142.2 million to 150.7 million, reflecting the creation of 17.6 million shares and the redemption of 9.1 million shares during the year.
The Trust's financial performance showed a total gain on gold investments of $716.2 million for 2024, compared to $350.3 million in 2023. The increase in net assets from operations was $710.6 million, which included realized gains from gold transfers and distributions for share redemptions. The Sponsor's fee for the year was $5.6 million, representing 0.17% of the Trust's adjusted net asset value, consistent with previous years.
Operationally, the Trust continues to function as a passive investment vehicle, with its primary objective being to reflect the performance of gold bullion prices, less expenses. The Trust does not engage in profit-seeking activities and has no employees or directors, relying instead on The Bank of New York Mellon as the trustee and ICBC Standard Bank Plc as the custodian. The Trust's structure allows for easy access to gold investments for both institutional and retail investors, with shares trading on the NYSE Arca under the symbol SGOL.
Looking ahead, the Trust's management remains cautious about market conditions that could impact gold prices, including geopolitical events, inflation expectations, and changes in interest rates. The Trust's investment strategy is designed to mitigate risks associated with gold price volatility, although it acknowledges that fluctuations in gold prices can directly affect the value of its shares. The Trust's ongoing commitment to transparency and responsible sourcing of gold is also emphasized, as it seeks to maintain compliance with industry standards and regulations.
About abrdn Gold ETF Trust
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