Goldman Sachs Physical Gold ETF reported significant financial growth in its latest 10-Q filing for the quarter ending June 30, 2025. The Trust's net assets increased to $1.54 billion, up from $889.6 million at the end of 2024, reflecting a 73.6% rise. The net asset value (NAV) per share also saw a substantial increase, reaching $32.47 compared to $25.81 at the end of the previous fiscal year. This growth was primarily driven by a net increase in gold holdings, which rose to 469,786.6 ounces valued at $1.54 billion, up from 340,786.6 ounces valued at $889.7 million at the end of 2024.
The Trust experienced a notable increase in share activity, with 7,157,722 shares created during the second quarter of 2025, compared to 2,350,000 shares in the same period of 2024. For the first half of 2025, a total of 14,738,722 shares were created, significantly higher than the 2,850,000 shares created in the first half of 2024. The number of shares outstanding as of June 30, 2025, was 47,554,722, up from 34,466,000 at the end of 2024. This increase in share creation indicates a growing interest in the Trust's offerings amid rising gold prices.
Operationally, the Trust's performance was bolstered by a net realized and unrealized gain of $70.8 million for the quarter, compared to $33.1 million in the same quarter of the previous year. The Trust's expenses were primarily limited to the sponsor fee, which increased to $656,801 from $312,737 year-over-year. The increase in expenses was in line with the growth in assets under management, as the sponsor fee is calculated as a percentage of the Trust's NAV.
Looking ahead, the Trust's management remains optimistic about the future, citing favorable market conditions for gold and the potential for continued growth in assets. The Trust's investment strategy aims to reflect the performance of gold prices, and with gold prices showing an upward trend, the Trust anticipates further increases in net assets and share value. The management has indicated that they will continue to monitor market conditions closely and adjust their strategies as necessary to maximize shareholder value.
About Goldman Sachs Physical Gold ETF
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