iShares Gold Trust Micro Reports $1.1B Gold Investment

TL;DR

**IAUM's gold holdings hit $1.1B, showing strong asset backing for the ETF.**

AI Summary

The iShares Gold Trust Micro (IAUM) filed its 10-K for the fiscal year ending December 31, 2023. The cost of investment in gold bullion was $1,105,542,600. BlackRock Financial Management, Inc. acted as the Seed Capital Investor, contributing 5,000 ounces of gold valued at $1,865.10 per ounce on June 15, 2021, in exchange for 500,000 shares.

Why It Matters

This filing provides transparency into the underlying assets and operational structure of a significant gold ETF, impacting investors seeking exposure to gold prices.

Risk Assessment

Risk Level: low — As a gold trust, its primary asset is gold bullion, which is a tangible asset, and the filing details its holdings and inception.

Key Numbers

• $1.105B — Cost of investment in gold bullion (Represents the primary asset value held by the trust as of December 31, 2023.)
• 5,000 ounces — Gold contributed by Seed Capital Investor (Initial gold backing for the trust at inception.)
• 500,000 shares — Seed Creation Baskets (Shares issued to the Seed Capital Investor for initial gold contribution.)
• $1,865.10 — Gold price per ounce at inception (Valuation basis for the initial gold contribution on June 15, 2021.)

Key Players & Entities

• iShares Gold Trust Micro (company) — Filing entity
• BlackRock Financial Management, Inc. (company) — Seed Capital Investor and affiliate of the Sponsor
• $1,105,542,600 (dollar_amount) — Cost of investment in gold bullion
• June 15, 2021 (date) — Date of inception and Seed Creation Baskets contribution
• $1,865.10 (dollar_amount) — Price of an ounce of gold at contribution

FAQ

Key Financial Figures

• $1,127,844,172 — The Trust's net asset value grew from $1,127,844,172 at December 31, 2022 to $1,221,830,170
• $1,221,830,170 — $1,127,844,172 at December 31, 2022 to $1,221,830,170 at December 31, 2023, the Trust's fisca
• $500,000 — sts, audit fees and expenses, and up to $500,000 per annum in legal fees and expenses. T
• $196,195 — ecember 31, 2023, the amount waived was $196,195. The Trustee will, when directed by th
• $686,580 — bear any interest. The Sponsor earned $686,580 for the year ended December 31, 2023. E

Filing Documents

• iaum20231231c_10k.htm (10-K) — 787KB
• ex_614496.htm (EX-31.1) — 12KB
• ex_614497.htm (EX-31.2) — 12KB
• ex_614498.htm (EX-32.1) — 5KB
• ex_614499.htm (EX-32.2) — 5KB
• ex_614505.htm (EX-97.1) — 30KB
• graph.jpg (GRAPHIC) — 66KB
• 0001437749-24-004671.txt ( ) — 3228KB
• iaum-20231231.xsd (EX-101.SCH) — 30KB
• iaum-20231231_cal.xml (EX-101.CAL) — 15KB
• iaum-20231231_def.xml (EX-101.DEF) — 134KB
• iaum-20231231_lab.xml (EX-101.LAB) — 129KB
• iaum-20231231_pre.xml (EX-101.PRE) — 158KB
• iaum20231231c_10k_htm.xml (XML) — 463KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 15 Item 1C. Cybersecurity 15 Item 2.

Properties

Properties 16 Item 3.

Legal Proceedings

Legal Proceedings 16 Item 4. Mine Safety Disclosures 16 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17 Item 6. [Reserved] 17 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 21 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 21 Item 9A.

Controls and Procedures

Controls and Procedures 22 Item 9B. Other Information 22 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 22 PART III Item 10. Directors, Executive Officers and Corporate Governance 23 Item 11.

Executive Compensation

Executive Compensation 23 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 24 Item 13. Certain Relationships and Related Transactions, and Director Independence 24 Item 14. Principal Accounting Fees and Services 24 PART IV Item 15. Exhibits, Financial Statement Schedules 25 Item 16. Form 10-K Summary 25 Table of Contents PART I

Business

Item 1. Business. Summary The purpose of the iShares Gold Trust Micro (the "Trust") is to own gold transferred to the Trust in exchange for shares issued by the Trust ("Shares"). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist primarily of gold held by the Trust's custodian on behalf of the Trust. However, there may be situations where the Trust will unexpectedly hold cash. For example, a claim may arise against a third party, which is settled in cash. In situations where the Trust unexpectedly receives cash or other assets, no new Shares will be issued until after the record date for the distribution of such cash or other property has passed. The Trust was formed on June 15, 2021 when the Sponsor and The Bank of New York Mellon signed the Depository Trust Agreement (as amended, the "Trust Agreement") and BlackRock Financial Management, Inc. made the initial deposit for the issuance of ten Baskets (a "Basket" consists of 50,000 Shares). The Trust is a grantor trust formed under the laws of the State of New York. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the "Sponsor"), a Delaware limited liability company and an indirect subsidiary of BlackRock, Inc. ("BlackRock"). The trustee of the Trust is The Bank of New York Mellon (the "Trustee") and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the "Custodian"). The agreement between the Trustee and the Custodian (the "Custodian Agreement") is governed by English law. The Trust does not have any officers, directors or employees. The Trust's net asset value grew from $1,127,844,172 at December 31, 2022 to $1,221,830,170 at December 31, 2023, the Trust's fiscal year end. Outstanding Shares of the Trust decreased from 62,300,000 Shares outstanding at December 31, 2022 to 59,350,000 Shares outstanding at December 31, 2023. The activities of the Trust are limited to (1) issuing Baskets in exchange

View Full Filing

View this 10-K filing on SEC EDGAR