abrdn Platinum ETF Trust
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
PPLT$13.86+0.7%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-09.
0001999371-24-009836
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-12.
0001999371-24-014547
Item 2. 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 30 previous paragraphs and 30 current paragraphs.
21 unchanged; 7 reworded; 2 added; 2 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 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 (2)
Current report
The Quarter Ended September 30, 2024
Current report
The Nine Months Ended September 30, 2024
Removed paragraphs (2)
Previous report
The Quarter EndedJune 30, 2024
Previous report
The Six Months EndedJune 30, 2024
Reworded paragraphs (7)
Previous wording
The Trust’s NAV increased from $919,981,811 at March 31, 2024 to $1,029,587,672 at June 30, 2024, a 11.91% increase for the quarter. The change in the Trust’s NAV resulted from an increase in the price per ounce of platinum, which rose 11.58% from $907.00 at March 31, 2024 to $1,012.00 at June 30, 2024 and an increase in outstanding Shares, which increased from 11,050,000 Shares at March 31, 2024 to 11,100,000 Shares at June 30, 2024, as a result of 450,000 Shares (9 Baskets) being created and 400,000 Shares (8 Baskets) being redeemed during the quarter.
Current wording
The Trust's NAV decreased from $1,029,587,672 at June 30, 2024 to $1,000,603,638 at September 30, 2024, a 2.82% decrease for the quarter. The change in the Trust's NAV resulted from a decrease in the price per ounce of platinum, which fell 2.67% from $1,012.00 at June 30, 2024 to $985.00 at September 30, 2024. There was no change in outstanding Shares, which stayed the same from 11,100,000 Shares at June 30, 2024 to 11,100,000 Shares at September 30, 2024, as a result of 400,000 Shares (8 Baskets) being created and 400,000 Shares (8 Baskets) being redeemed during the quarter.
Previous wording
The NAV per Share increased 11.41% from $83.26 at March 31, 2024 to $92.76 at June 30, 2024. The Trust’s NAV per Share rose slightly less than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $1,534,625 for the period, or 0.60% of the Trust’s ANAV on an annualized basis.
Current wording
The NAV per Share decreased 2.82% from $92.76 at June 30, 2024 to $90.14 at September 30, 2024. The Trust's NAV per Share fell slightly more than the price per ounce of platinum on a percentage basis due to the Sponsor's Fee, which was $1,485,499 for the quarter, or 0.60% of the Trust's ANAV on an annualized basis.
Previous wording
The NAV per Share of $97.68 at May 17, 2024 was the highest during the period, compared with a low of $83.04 at April 23, 2024.
Current wording
The NAV per Share of $93.76 at July 5, 2024 was the highest during the period, compared with a low of $83.32 at September 4, 2024.
Previous wording
The increase in net assets from operations for the quarter ended June 30, 2024 was $107,379,422, resulting from a realized gain of $1,371,949 on platinum distributed for the redemption of Shares, and a change in unrealized gain on investment in platinum of $107,552,670, offset by a realized loss of $10,572 on the transfer of platinum to pay expenses and the Sponsor’s Fee of $1,534,625. Other than the Sponsor’s Fee, the Trust had no expenses during the quarter ended June 30, 2024.
Current wording
The decrease in net assets from operations for the quarter ended September 30, 2024 was $28,421,262, resulting from a realized gain of $15,497 on the transfer of platinum to pay expenses, a realized gain of $261,673 on platinum distributed for the redemption of Shares, offset by a change in unrealized loss on investment in platinum of $27,212,933, and the Sponsor's Fee of $1,485,499. Other than the Sponsor's Fee, the Trust had no expenses during the quarter ended September 30, 2024.
Previous wording
The Trust’s NAV increased from $997,445,666 at December 31, 2023 to $1,029,587,672 at June 30, 2024, a 3.22% increase for the period. The change in the Trust’s NAV resulted from an increase in the price per ounce of platinum, which rose 1.20% from $1,000.00 at December 31, 2023 to $1,012.00 at June 30, 2024 and an increase in outstanding Shares, which increased from 10,850,000 Shares at December 31, 2023 to 11,100,000 Shares at June 30, 2024, as a result of 1,050,000 Shares (21 Baskets) being created and 800,000 Shares (16 Baskets) being redeemed during the period.
Current wording
The Trust's NAV increased from $997,445,666 at December 31, 2023 to $1,000,603,638 at September 30, 2024, a 0.32% increase for the period. The change in the Trust's NAV resulted from a decrease in the price per ounce of platinum,which fell 1.50% from $1,000.00 at December 31, 2023 to $985.00 at September 30, 2024 and an increase in outstanding Shares, which increased from 10,850,000 Shares at December 31, 2023 to 11,100,000 Shares at September 30,2024, as a result of 1,450,000 Shares (29 Baskets) being created and 1,200,000 Shares (24 Baskets) being redeemed.
Previous wording
The NAV per Share increased 0.90% from $91.93 at December 31, 2023 to $92.76 at June 30, 2024. The Trust’s NAV per Share rose slightly less than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $2,912,090 for the period, or 0.60% of the Trust’s ANAV on an annualized basis.
Current wording
The NAV per Share decreased 1.95% from $91.93 at December 31, 2023 to $90.14 at September 30, 2024. The Trust's NAV per Share fell slightly more than the price per ounce of platinum on a percentage basis due to the Sponsor's Fee, which was $4,397,789 for the period, or 0.60% of the Trust's ANAV on an annualized basis.
Previous wording
The increase in net assets from operations for the period ended June 30, 2024 was $14,075,408, resulting from a change in unrealized gain on investment in platinum of $17,379,515, offset by a realized loss of $45,761 on the transfer of platinum to pay expenses, a realized loss of $346,456 on platinum distributed for the redemption of Shares, and the Sponsor’s Fee of $2,912,090. Other than the Sponsor’s Fee, the Trust had no expenses during the period ended June 30, 2024.
Current wording
The decrease in net assets from operations for the period ended September 30, 2024 was $14,345,853, resulting from a realized loss of $29,864 on the transfer of platinum to pay expenses and a realized loss of $84,783 on platinum distributed for the redemption of Shares, a change in unrealized loss on investment in platinum of $9,833,417, and the Sponsor's Fee of $4,397,789. Other than the Sponsor's Fee, the Trust had no expenses during the period ended September 30, 2024.