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SPDR Gold MiniShares Trust (GLDM-0.48%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing reports that the Trust's net assets increased to $9,108,169,000 from $5,764,461,000 the previous year, primarily due to an increase in the price of gold and net creations of shares.
The Trust's only operational series, SPDR Gold MiniShares Trust, reported a net income of $2,423,086,000 for the year, compared to $546,285,000 in the previous year. This increase was largely due to a significant rise in the price of gold.
The Trust's investment in gold was valued at $9,161,023,000 as of September 30, 2024, up from $5,779,814,000 as of September 30, 2023. The increase in value reflects both an increase in the quantity of gold held and a higher gold price.
During the year, the Trust created 52,400,000 shares and redeemed 33,000,000 shares, resulting in a net increase of 19,400,000 shares.
The Trust's expenses, primarily the Sponsor's fee, totaled $7,034,000 for the year, compared to $5,736,000 in the previous year.
The Trust's net asset value per share increased from $37.11 at the beginning of the year to $52.12 at the end of the year, reflecting the increase in the price of gold.
The Trust's shares are listed on the NYSE Arca under the ticker symbol GLDM and are also listed on the Mexican Stock Exchange.
The Trust's gold is held by ICBC Standard Bank Plc and JPMorgan Chase Bank, N.A. (JPM+1.92%), with all gold being allocated in the form of good delivery bars.
The Trust is classified as a 'grantor trust' for U.S. federal income tax purposes, meaning it is not subject to U.S. federal income tax, and its income and expenses flow through to the shareholders.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SPDR Gold MiniShares Trust annual 10-K report dated November 25, 2024. To report an error, please email earnings@qz.com.