GraniteShares Platinum Trust
For the period ended Jun 30, 2025. Filed Aug 11, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Aug 11, 2025
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-K
Period ended 2024-06-30; filed 2024-08-15.
0001493152-24-032635
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-K
Period ended 2025-06-30; filed 2025-08-11.
0001493152-25-011791
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 35 previous paragraphs and 35 current paragraphs.
30 unchanged; 4 reworded; 1 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
The NAV per Share increased 32.76% from $ 9.80 on June 30, 2024 to $13.01 on June 30, 2025. The Trust’s NAV per Share increased slightly less than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $242,983 for the year, or 0.50 % of the Trust’s assets on an annualized basis.
Removed paragraphs (1)
Previous report
The NAV per Share decreased 14.8% from $10.41 on June 30, 2021 to $8.87 on June 30, 2022. The price per ounce of platinum decreased 14.4% from $1,059.00 on June 30, 2022 to $907 on June 30, 2023. The Trust’s NAV per Share decreased slightly more than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $209,660 for the year, or 0.50% of the Trust’s assets on an annualized basis.
Reworded paragraphs (4)
Previous wording
The Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s platinum as necessary to pay the Trust’s expenses not otherwise assumed by the Sponsor. The Trustee will not sell platinum to pay the Sponsor’s Fee but will pay the Sponsor’s Fee through in-kind transfers of platinum to the Sponsor. At June 30, 2024 and 2023 the Trust did not have any cash balances.
Current wording
The Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s platinum as necessary to pay the Trust’s expenses not otherwise assumed by the Sponsor. The Trustee will not sell platinum to pay the Sponsor’s Fee but will pay the Sponsor’s Fee through in-kind transfers of platinum to the Sponsor. At June 30, 2025 the Trust did not have any cash balances.
Previous wording
The Trust’s NAV increased from $37,477,854 on June 30, 2021 to $44,801,455 on June 30, 2022, a 19.5% increase for the year. The increase in the Trust’s NAV resulted primarily from an increase in outstanding Shares, which rose from 3,600,000 Shares on June 30, 2021, to 5,050,000 Shares on June 30, 2022, a result of 2,550,000 Shares (51 Baskets) being created and 1,100,000 Shares (22 Baskets) being redeemed during that period
Current wording
The Trust’s NAV increased from $ 43,119,274 on June 30, 2024 to $ 85,206,010 on June 30, 2025, a 97.61% increase for the year. The increase in the Trust’s NAV resulted primarily from an increase in outstanding Shares from 4,400,000 Shares on June 30, 2024 to 6,550,000 Shares on June 30, 2025, a result of 3,150,000 Shares (63 Baskets) being created and 1,000,000 Shares (20 Baskets) being redeemed during that period (a 48.86% increase), as well as an increase in the platinum price from $1,012 per ounce on June 30, 2024 to $1,350 per ounce on June 30, 2025, a 33.40% increase.
Previous wording
The Trust’s NAV increased from $34,919,057 on June 30, 2023 to $43,119,274 on June 30, 2024, a 23.48% increase for the year. The increase in the Trust’s NAV resulted primarily from an increase in outstanding Shares from 4,000,000 Shares on June 30, 2023 to 4,400,000 Shares on June 30, 2024, a result of 850,000 Shares (17 Baskets) being created and 450,000 Shares (9 Baskets) being redeemed during that period
Current wording
The Trust’s NAV increased from $ 34,919,057 on June 30, 2023 to $ 43,119,274 on June 30, 2024, a 23.48% decrease for the year. The increase in the Trust’s NAV resulted primarily from an increase in outstanding Shares from 4,000,000 Shares on June 30, 2023 to 4,400,000 Shares on June 30, 2024, a result of 850,000 Shares (17 Baskets) being created and 450,000 Shares (9 Baskets) being redeemed during that period
Previous wording
The NAV per Share increased 12.26% from $ 8.73 on June 30, 2023 to $9.80 on June 30, 2024. The price per ounce of platinum increased 12.82% $897 on June 30, 2023 to $1,012 on June 30, 2024. The Trust’s NAV per Share increased slightly less than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $187,695 for the year, or 0.50% of the Trust’s assets on an annualized basis.
Current wording
The NAV per Share increased 12.26% from $ 8.73 on June 30, 2023 to $9.80 on June 30, 2024. The price per ounce of platinum increased 12.82% $ 897 on June 30, 2023 to $1,012 on June 30, 2024. The Trust’s NAV per Share decreased slightly more than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $187,695 for the year, or 0.50% of the Trust’s assets on an annualized basis