VanEck Merk Gold Trust Files 10-K for Fiscal Year Ended January 31, 2024

TL;DR

<b>VanEck Merk Gold Trust has filed its 2024 10-K, confirming its status as a seasoned issuer and compliance with SEC reporting requirements.</b>

AI Summary

VanEck Merk Gold Trust (OUNZ) filed a Annual Report (10-K) with the SEC on March 29, 2024. VanEck Merk Gold Trust filed its annual report (10-K) for the fiscal year ended January 31, 2024. The Trust is registered under the Securities Exchange Act of 1934 and is a well-known seasoned issuer. VanEck Merk Gold Shares (OUNZ) are registered and traded on the NYSE Arca. The filing confirms the Trust has met all reporting requirements for the preceding 12 months and the past 90 days. The Trust has submitted all required Interactive Data Files electronically for the preceding 12 months.

Why It Matters

For investors and stakeholders tracking VanEck Merk Gold Trust, this filing contains several important signals. This 10-K filing provides a comprehensive overview of the VanEck Merk Gold Trust's financial performance and operational status for the fiscal year, crucial for investors assessing the trust's stability and management. As a well-known seasoned issuer, the trust's consistent filing and electronic submission of data indicate a mature and compliant entity within the gold ETF market, potentially influencing investor confidence.

Risk Assessment

Risk Level: low — VanEck Merk Gold Trust shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain new material risks or adverse financial information, indicating a stable operational status.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand the trust's performance and outlook.

Key Numbers

• 20240131 — Fiscal Year End (Fiscal year ended January 31, 2024)
• 001-36459 — Commission File Number (SEC file number for the registrant)
• 46-6582016 — IRS Employer Identification No. (IRS number for the Trust)
• 20240329 — Filing Date (Date the 10-K was filed)

Key Players & Entities

• VanEck Merk Gold Trust (company) — Registrant name
• OUNZ (company) — Trading symbol for VanEck Merk Gold Shares
• NYSE Arca (company) — Exchange where OUNZ is registered
• Securities Exchange Act of 1934 (regulator) — Act under which the trust is registered
• Rule 405 of the Securities Act (regulator) — Rule related to seasoned issuer status
• Rule 12b-2 of the Exchange Act (regulator) — Rule defining filer classifications
• Regulation S-T (regulator) — Regulation governing electronic submissions
• 20240131 (date) — Fiscal year end date

FAQ

Key Dates

• 2024-01-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-29: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual overview of the VanEck Merk Gold Trust.)

Well-known seasoned issuer

An issuer that meets certain filing and reporting history requirements, allowing for streamlined registration processes. (Indicates the VanEck Merk Gold Trust has a history of compliance and is considered a mature filer.)

Key Financial Figures

• $1,306.25 — sed on the price of an Ounce of gold of $1,306.25. The Initial Purchaser is not affiliate
• $18.65 — hare value of the Shares increased from $18.65 at January 31, 2023 to $19.69 at Januar
• $19.69 — ased from $18.65 at January 31, 2023 to $19.69 at January 31, 2024, the Trust's fiscal
• $250 — ter reaching a 20-year low of just over $250 per Ounce in the summer of 1999, the pr

Filing Documents

• ea0202572-10k_vaneck.htm (10-K) — 697KB
• ea020257201ex23-1_vaneck.htm (EX-23.1) — 2KB
• ea020257201ex23-2_vaneck.htm (EX-23.2) — 2KB
• ea020257201ex31-1_vaneck.htm (EX-31.1) — 12KB
• ea020257201ex32-1_vaneck.htm (EX-32.1) — 5KB
• ea020257201ex97-1_vaneck.htm (EX-97.1) — 31KB
• image_001.jpg (GRAPHIC) — 62KB
• image_002.jpg (GRAPHIC) — 64KB
• image_004.jpg (GRAPHIC) — 3KB
• image_005.jpg (GRAPHIC) — 23KB
• image_006.jpg (GRAPHIC) — 17KB
• image_007.jpg (GRAPHIC) — 4KB
• image_008.jpg (GRAPHIC) — 17KB
• ex23-2_001.jpg (GRAPHIC) — 3KB
• 0001213900-24-027921.txt (&nbsp;) — 3127KB
• ounz-20240131.xsd (EX-101.SCH) — 24KB
• ounz-20240131_cal.xml (EX-101.CAL) — 8KB
• ounz-20240131_def.xml (EX-101.DEF) — 77KB
• ounz-20240131_lab.xml (EX-101.LAB) — 129KB
• ounz-20240131_pre.xml (EX-101.PRE) — 68KB
• ea0202572-10k_vaneck_htm.xml (XML) — 260KB

Business

Business 1 Item 1A Risk Factors 21 Item 1B Unresolved Staff Comments 36 Item 1C Cybersecurity 36 Item 2

Properties

Properties 37 Item 3 Legal Proceedings 37 Item 4 Mine Safety Disclosures 37 PART II 38 Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 38 Item 6 Reserved 38 Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A Quantitative and Qualitative Disclosures About Market Risk 45 Item 8 Financial 45 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 47 Item 9A Controls and Procedures 47 Item 9B Other Information 48 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 48 PART III 49 Item 10 Directors, Executive Officers and Corporate Governance 49 Item 11 Executive Compensation 49 Item 12 Security 49 Item 13 Certain Relationships and Related Transactions, and Director Independence 49 Item 14 Principal Accountant Fees and Services 49 PART IV 50 Item 15 Exhibits and Financial Statement Schedules 50 Item 16 Form 10-K Summary 50

SIGNATURES

SIGNATURES 51 i PART I References in this Annual Report on Form 10-K ("Report") to the "Trust" refer to the VanEck Merk Gold Trust, and references to the "Sponsor" refer to Merk Investments LLC, the sponsor of the Trust. References in this Report to the "Trustee" refer to The Bank of New York Mellon, the trustee of the Trust, and references to the "Custodian" refer to JPMorgan Chase Bank N.A., London branch, the custodian of the Trust. As used in this Report: (i) an "Ounce" means one troy ounce, equal to 31.103 grams; (ii) a "Fine Ounce" means an Ounce of 100% pure gold; (iii) "LBMA" means the London Bullion Markets Association; and (iv) "NYSE Arca" means the NYSE Arca Marketplace operated by NYSE Arca Equities, Inc.

Business

Item 1. Business The Trust is an investment trust formed on May 6, 2014 under New York State law pursuant to the Depositary Trust Agreement ("Trust Agreement"), which was amended effective October 26, 2015, to effectuate a name change to Van Eck Merk Gold Trust. The Trust Agreement was further amended on April 28, 2016, to effectuate a second name change to VanEck Merk Gold Trust. The purpose of the Trust is to own gold transferred to the Trust in exchange for shares issued by the Trust (the "Shares"). Each Share represents a fractional undivided beneficial interest in and ownership of the Trust. Shares are issued by the Trust in blocks of 50,000 called "Baskets" in exchange for gold from certain registered broker-dealers or other securities market participants ("Authorized Participants"). Baskets may be redeemed by the Trust in exchange for the amount of gold corresponding to their redemption value. The Trust issues and redeems Baskets on an ongoing basis at net asset value to Authorized Participants who have entered into a contract with the Sponsor and the Trustee. The assets of the Trust are anticipated to consist solely of gold bullion. On May 6, 2014, the date the Trust was formed, Virtu Financial (the "Initial Purchaser") contributed 1,000 Ounces of gold in exchange for 100,000 Shares (or two Baskets). At contribution, the value of the gold deposited with the Trust was based on the price of an Ounce of gold of $1,306.25. The Initial Purchaser is not affiliated with the Sponsor or the Trustee. The redeemable per share value of the Shares increased from $18.65 at January 31, 2023 to $19.69 at January 31, 2024, the Trust's fiscal year end. Outstanding Shares in the Trust increased from 35,203,259 Shares at January 31, 2023 to 39,626,030 Shares outstanding at January 31, 2024. The Trust is not managed like a corporation or an active investment vehicle. It does not have any officers, directors or employees and is administered by the Trustee pursuant to the Trus

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View this 10-K filing on SEC EDGAR