abrdn Platinum ETF Trust Files Q2 2024 10-Q

TL;DR

**abrdn Platinum ETF Trust files Q2 10-Q. Platinum holdings update.**

AI Summary

abrdn Platinum ETF Trust filed its quarterly report for the period ending June 30, 2024. The filing details the trust's financial status and operations, including its holdings and valuation metrics. The trust, formerly known as Aberdeen Standard Platinum ETF Trust and ETFS Platinum Trust, is incorporated in Delaware and has its fiscal year end on December 31.

Why It Matters

This filing provides investors with an update on the financial health and holdings of the abrdn Platinum ETF Trust, crucial for understanding the value and performance of their platinum-backed investments.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates for an ETF, which typically carries lower risk than filings related to significant corporate events or financial distress.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which the report is filed.)
• 20240809 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• abrdn Platinum ETF Trust (company) — Filer of the 10-Q report
• Aberdeen Standard Platinum ETF Trust (company) — Former name of the filer
• ETFS Platinum Trust (company) — Previous former name of the filer
• 20240630 (date) — End of the reporting period
• 20240809 (date) — Date the report was filed

FAQ

Key Financial Figures

• $ — ember 31, 2023 (Amounts in 000's of US$, except for Share and per Share data)

Filing Documents

• pplt-10q_063024.htm (10-Q) — 328KB
• ex31-1.htm (EX-31.1) — 9KB
• ex31-2.htm (EX-31.2) — 9KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 5KB
• 0001999371-24-009836.txt ( ) — 1915KB
• pplt-20240630.xsd (EX-101.SCH) — 18KB
• pplt-20240630_cal.xml (EX-101.CAL) — 13KB
• pplt-20240630_def.xml (EX-101.DEF) — 27KB
• pplt-20240630_lab.xml (EX-101.LAB) — 164KB
• pplt-20240630_pre.xml (EX-101.PRE) — 117KB
• pplt-10q_063024_htm.xml (XML) — 237KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 15

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 16 Item 1A.

Risk Factors

Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17

SIGNATURES

SIGNATURES 18 abrdn Platinum ETF Trust PART I. FINANCIAL INFORMATION Item 1. Financial Statements of Assets and Liabilities At June 30, 2024 (Unaudited) and December 31, 2023 June 30, 2024 December 31, 2023 (Amounts in 000's of US$, except for Share and per Share data) ASSETS Investment in platinum (cost: June 30, 2024: $ 978,806 ; December 31, 2023: $ 964,036 ) $ 1,030,105 $ 997,955 Total assets 1,030,105 997,955 LIABILITIES Fees payable to Sponsor 517 509 Total liabilities 517 509 NET ASSETS (1) $ 1,029,588 $ 997,446 (1) Authorized share capital is Unlimited with no par value per Share. Shares issued and outstanding at June 30, 2024 were 11,100,000 and at December 31, 2023 were 10,850,000 . Net asset values per Share at June 30, 2024 and December 31, 2023 were $ 92.76 and $ 91.93 , respectively. See Notes to the Financial Statements 1 abrdn Platinum ETF Trust Schedules of Investments At June 30, 2024 (Unaudited) and December 31, 2023 June 30, 2024 Description oz Cost Fair Value % of Net Assets Investment in platinum (in 000's of US$, except for oz and percentage data) Platinum 1,017,890.3 $ 978,806 $ 1,030,105 100.05 % Total investment in platinum 1,017,890.3 $ 978,806 $ 1,030,105 100.05 % Less liabilities ( 517 ) ( 0.05 )% Net Assets $ 1,029,588 100.00 % December 31, 2023 Description oz Cost Fair Value % of Net Assets Investment in platinum (in 000's of US$, except for oz and percentage data) Platinum 997,955.2 $ 964,036 $ 997,955 100.05 % Total investment in platinum 997,955.2 $ 964,036 $ 997,955 100.05 % Less liabilities ( 509 ) ( 0.05 )% Net Assets $ 997,446 100.00 % See Notes to the Financial Statements 2 abrdn Platinum ETF Trust of Operations (Unaudited) For the three and six months ended June 30, 2024 and 2023 Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024

financial statements should be read in conjunction with the Trust's Annual Report on Form 10-K for the fiscal year ended

financial statements should be read in conjunction with the Trust's Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the operating results for the full year. 2. Significant Accounting Policies The preparation of financial statements in accordance with U.S. GAAP requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Trust. 2.1. Basis of Accounting The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 946, Financial Services—Investment Companies, and has concluded that for reporting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act. 2.2. Valuation of Platinum The Trust follows the provisions of ASC 820, Fair Value Measurement ("ASC 820"). ASC 820 provides guidance for determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Effective May 23, 2024, the Trustee, at the direction of the Sponsor, entered into an Allocated Account Agreement and Unallocated Account Agreement with ICBC Standard Bank Plc ("ICBC"), providing for the custody of the Trust's platinum. Prior to May 23, 2024, JPMorgan Chase Bank N.A. ("JPMorgan") served as custodian of the Trust's platinum, and will continue to provide custody servic

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View this 10-Q filing on SEC EDGAR