The abrdn Platinum ETF Trust reported a net asset value (NAV) of $1,018,947,768 as of December 31, 2024, reflecting a 2.16% increase from $997,445,666 at the end of the previous fiscal year. This increase was primarily driven by a rise in outstanding shares, which grew from 10,850,000 to 12,200,000 during the year. However, the price per ounce of platinum decreased by 8.70%, from $1,000.00 to $913.00, contributing to a decline in the NAV per share from $91.93 to $83.52, a decrease of 9.15%. The Trust's Sponsor's Fee for the year was $5,968,067, representing 0.60% of the Trust's adjusted net asset value.
In terms of operational changes, the Trust saw a net decrease in assets from operations amounting to $94,683,972 for the year ended December 31, 2024. This was attributed to a realized loss on platinum distributed for the redemption of shares and a significant unrealized loss on investments in platinum, totaling $88,636,374. The Trust's financial performance was impacted by the volatility in platinum prices, which have fluctuated widely due to various market conditions, including supply disruptions and changes in demand.
Strategically, the Trust continues to operate as a passive investment vehicle, with no active management or trading of platinum. The Trust's structure allows for the creation and redemption of shares only in large blocks known as Baskets, which consist of 50,000 shares. This mechanism is designed to provide liquidity and facilitate trading on the NYSE Arca under the symbol "PPLT." The Trust's assets are solely comprised of platinum bullion, which is held by ICBC Standard Bank Plc as the custodian.
Looking ahead, the Trust's management remains focused on maintaining its operational efficiency and ensuring that the NAV of the shares reflects the performance of platinum prices, less the Trust's expenses. The Trust does not anticipate any significant changes to its liquidity needs, as the Sponsor has agreed to cover most administrative expenses. However, the ongoing volatility in platinum prices and market conditions may continue to influence the Trust's financial performance and the value of its shares.
About abrdn Platinum ETF Trust
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