Goldman Sachs Physical Gold ETF Reports $2.82 Billion in Net Assets for Q1 2026

Goldman Sachs Physical Gold ETF reported significant financial performance for the first quarter of 2026, with net assets increasing to $2.82 billion, up from $2.54 billion at the end of 2025. The net increase in net assets resulting from operations was $164.1 million, compared to $187.9 million in the same period last year. The net asset value (NAV) per share rose to $45.46, reflecting a 7.5% increase from the previous quarter's NAV of $42.51. The Trust's investment in gold also saw a rise in fair value, reaching $2.82 billion, attributed to a higher gold price of $4,608.35 per ounce at the end of March 2026.

In terms of operational metrics, the Trust created 2.93 million shares (117 Baskets) in exchange for 28,872.2 ounces of gold during the quarter, while redeeming 700,000 shares (28 Baskets) for 6,905.3 ounces of gold. This represents a decrease in share creations compared to the 7.58 million shares created in the same quarter of 2025. The Trust's total shares outstanding increased to 62.03 million as of March 31, 2026, compared to 59.80 million at the end of 2025. The average number of shares outstanding also rose significantly from 37.57 million in Q1 2025 to 61.77 million in Q1 2026.

The Trust's expenses for the quarter included a sponsor fee of $1.31 million, which is a notable increase from $470,596 in the same period last year. The increase in expenses is primarily due to the growth in net assets and the corresponding increase in the sponsor fee, which is calculated as a percentage of the Trust's NAV. The Trust reported no other significant expenses during the quarter, maintaining a streamlined operational cost structure.

Looking ahead, the Trust's management remains optimistic about the outlook for gold prices, which are influenced by various market conditions, including inflation expectations and geopolitical factors. The Trust's investment strategy aims to reflect the performance of gold prices while minimizing operational expenses. The management has indicated that they do not foresee any material changes to liquidity needs or operational strategies in the near term, maintaining a focus on the Trust's core objective of providing investors with exposure to gold.

Overall, Goldman Sachs Physical Gold ETF continues to demonstrate a solid financial position and operational growth, with a focus on adapting to market conditions while managing expenses effectively. The Trust's performance metrics and strategic direction suggest a commitment to enhancing shareholder value through prudent management of its gold investments.