GraniteShares Platinum Trust

Previous wording

The Trust’s net asset value increased by 6.5% from $43,119,274 on June 30, 2024, to $45,904,688 on December 31, 2024. The increase in the Trust’s net asset value was due to the increase in the number of Shares outstanding from 4,400,000 on June 30, 2024, to 5,200,000 on December 31, 2024, an 18.2% increase. The net 800,000 shares increase was the result of 20 creation orders and 4 redemption orders (50,000 shares per creation and redemption). The Trust’s net asset value was negatively affected by the price of platinum, which decreased 9.7% from $$1,012.00 on June 30, 2024, to $914.00 on December 31, 2024.

Current wording

The Trust’s net asset value increased from $45,904,688 on December 31, 2024 to $50,291,907 on March 31, 2025, a 9.56% increase. The Trust’s net asset value increase was due to the positive change in the price of platinum, which moved from $914.00 on December 31, 2024 to $993.00 on March 31, 2025, or 8.64%. The impact of the change in platinum price was slightly increased by a positive change in the number of shares outstanding from 5,200,000 to 5,250,000, or 0.96%. The 50,000 shares increase was the result of 4 creation orders and 3 redemption orders (50,000 shares per creation order).

Previous wording

The 7.4% decrease in the Trust’s net asset value per share from $9.53 at September 30, 2024 to $8.83 at December 31, 2024 is directly related to the 7.2% decrease in the price of platinum.

Current wording

The 8.49% increase in the Trust’s net asset value per share, from $8.83 on December 31, 2024, to $9.58 on March 31, 2025, is directly related to the 8.64% increase in the price of platinum.

Previous wording

The Trust’s net asset value per share decreased slightly more than the price of platinum on a percentage basis due to the Sponsor’s fees, which were $107,444 for the period, or 0.25% of the Trust’s average weighted net assets of $42,627,725 during the period. The net asset value per share of $10.15 on October 29, 2024, was the highest during the period, compared with a low during the period of $8.80 on September 04, 2024.

Current wording

The Trust’s net asset value per share increased slightly less than the price of platinum on a percentage basis due to the Sponsor’s fees, which were $61,502 for the quarter, or 0.123% of the Trust’s average weighted net assets of $49,885,104 during the quarter. The net asset value per share of $9.66 on March 19, 2025, was the highest during the quarter, compared with a low during the quarter of $8.83 on January 02, 2025.

Previous wording

The net decrease in net assets resulting from operations for the quarter ended December 31, 2024, was $3,386,561, resulting primarily from an unrealized loss on investment in platinum bullion of $3,173,113, increased by a loss of $157,800 on metal sold to cover redemption orders and Sponsor’s fees and by the Sponsor’s fees of $55,648. Other than the Sponsor’s fees the Trust had no expenses during the quarter.

Current wording

The net increase in net assets resulting from operations for the quarter ended March 31, 2025, was $4,008,040, resulting from an unrealized gain on investment in platinum bullion of $4,096,030, decreased by a loss of $26,488 on metal sold to cover the redemption orders and the Sponsor’s fees and decreased by the Sponsor’s fees of $61,502. Other than the Sponsor’s fees the Trust had no expenses during the quarter.

Previous wording

During the quarter the Trust’s net asset value increased by 9.5% from $41,914,842 on September 30, 2024, to $45,904,688 on December 31, 2024. The increase in the Trust’s net asset value was due to the increase in the number of Shares outstanding from 4,400,000 on September 30, 2024, to 5,200,000 on December 31, 2024, an 18.2% increase. The net 800,000 shares increase was the result of 20 creation orders and 4 redemption orders (50,000 shares per creation and redemption). The Trust’s net asset value was negatively affected by the price of platinum, which decreased 7.2% from $985.00 on September 30, 2024, to $914.00 on December 31, 2024.

Current wording

The Trust’s net asset value increased from $43,119,274 on June 30, 2024 to $50,291,907 on March 31, 2025, a 16.63% increase. The Trust’s number of shares outstanding increased from 4,400,000 to 5,250,000 over this period, or 19.32%. The 850,000 shares increase was the net result of 24 creations orders and 7 redemption orders (50,000 shares per creation and redemption order). The positive impact in the number of shares outstanding was reduced by the price of platinum, which decreased 1.88% from $1,012.00 on June 30, 2024, to $993.00 on March 31, 2025.

Previous wording

The 9.9% decrease in the Trust’s net asset value per share from $9.80 on June 30, 2024, to $8.83 on December 31, 2024, is directly related to the 9.7% decrease in the price of platinum.

Current wording

The 2.24% decrease in the Trust’s net asset value per share, from $9.80 on June 30, 2024, to $9.58 on March 31, 2025, is directly related to the 1.88% decrease in the price of platinum.

Previous wording

The Trust’s net asset value per share decreased slightly more than the price of platinum on a percentage basis due to the Sponsor’s fees, which were $55,648 for the period, or 0.13% of the Trust’s average weighted net assets of $44,156,625 during the period. The net asset value per share of $10.15 on October 29, 2024, was the highest during the period, compared with a low during the period of $8.80 on September 04, 2024.

Current wording

The Trust’s net asset value per share decreased slightly more than the price of platinum on a percentage basis due to the Sponsor’s fees, which were $168,946 for the period, or 0.375% of the Trust’s average weighted net assets of $45,011,536 during the period. The net asset value per share of $10.15 on October 30,2024 was the highest during the period, compared with a low during the period of $8.80 on September 05, 2024.

Previous wording

Net decrease in net assets resulting from operations for the six-month period ended December 31, 2024, was $4,590,994, resulting primarily from an unrealized gain on investment in platinum bullion of $4,322,212, increased by a loss of $161,338 on metal sold to cover redemption orders and Sponsor’s fees and by the Sponsor’s fees of $107,444. Other than the Sponsor’s fees the Trust had no expenses during the quarter.

Current wording

Net decrease in net assets resulting from operations for the 9 months period ending March 31, 2025, was $582,955, resulting from an unrealized loss on investment in platinum bullion of $226,183, decreased by a loss of $187,826 on metal sold to cover the redemption orders and the Sponsor’s fees, and by the Sponsor’s fees of $168,946. Other than the Sponsor’s fees the Trust had no expenses during the quarter.