arcee-ai/sec-data-mini · Datasets at Hugging Face

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proper form as described in the Authorized Participant Agreement or if the fulfillment of the order, in the opinion of counsel,
might be unlawful. None of the Trustee, the Sponsor or the Custodian will be liable for the rejection of any purchase order or
Creation Basket Deposit. Redemption
Procedures The
procedures by which an Authorized Participant can redeem one or more Baskets will mirror the procedures for the creation of Baskets.
On any business day, an Authorized Participant may place an order with the Trustee to redeem one or more Baskets. Redemption orders
must be placed no later than 3:59:59 p.m. on each business day the NYSE Arca is open for regular trading. In the event of a level
3 market-wide circuit breaker resulting in a trading halt for the remainder of the trading day, the time of the market-wide trading
halt is considered the close of regular trading and no redemption orders for the current trade date will be accepted after that
time (the “cutoff”). Orders placed after the cutoff will be deemed to be rejected and will not be processed. Orders
should be placed in proper form on the following business day. A redemption order so received is effective on the date it is received
in satisfactory form by the Trustee. The redemption procedures allow Authorized Participants to redeem Baskets and do not entitle
an individual Shareholder to redeem any Shares in an amount less than a Basket, or to redeem Baskets other than through an Authorized
Participant. By
placing a redemption order, an Authorized Participant agrees to deliver the Baskets to be redeemed through DTC’s book entry
system to the Trust not later than the second business day following the effective date of the redemption order. Prior to the
delivery of the redemption distribution for a redemption order, the Authorized Participant must also have wired to the Trustee
the non-refundable transaction fee due for the redemption order. 14 Determination
of redemption distribution The
redemption distribution from the Trust consists of a credit to the redeeming Authorized Participant’s Authorized Participant
Unallocated Account, either loco London or loco Zurich, representing the amount of the gold held by the Trust evidenced by the
Shares being redeemed. Fractions of a fine ounce of gold included in the redemption distribution smaller than 0.001 of a fine
ounce are disregarded. Redemption distributions will be subject to the deduction of any applicable tax or other governmental charges
which may be due. Delivery
of redemption distribution The
redemption distribution due from the Trust will be delivered to the Authorized Participant on the second business day following
a loco Zurich redemption order date if, by 10:00 a.m. New York time on such second business day, the Trustee’s DTC account
has been credited with the Baskets to be redeemed. The redemption distribution due from the Trust will be delivered to the Authorized
Participant on or before the fifth business day following a loco London redemption order date if, by 10:00 a.m. New York time
on the second business day after the loco London redemption order date, the Trustee’s DTC account has been credited with
the Baskets to be redeemed. If a loco swap or physical transfer is necessary to effect a loco London or loco Zurich redemption,
the redemption distribution due from the Trust will be delivered to the Authorized Participant on or before the fifth business
day following such a loco London or loco Zurich redemption order date if, by 10:00 a.m. New York time on the second business day
after the loco London or loco Zurich redemption order date, the Trustee’s DTC account has been credited with the Baskets
to be redeemed. In the event that, by 10:00 a.m. New York time on the second business day following the order date of a redemption
order, the Trustee’s DTC account has not been credited with the total number of Shares corresponding to the total number
of Baskets to be redeemed pursuant to such redemption order, the Trustee shall send to the Authorized Participant and the Custodian
via fax or electronic mail message notice of such fact and the Authorized Participant shall have two business days following receipt
of such notice to correct such failure. If such failure is not cured within such two business day period, the Trustee (in consultation
with the Sponsor) will cancel such redemption order and will send via fax or electronic mail message notice of such cancellation
to the Authorized Participant and the Custodian, and the Authorized Participant will be solely responsible for all costs incurred
by the Trust, the Trustee or the Custodian related to the cancelled order. The Trustee is also authorized to deliver the redemption
distribution notwithstanding that the Baskets to be redeemed are not credited to the Trustee’s DTC account by 10:00 a.m.
New York time on the second business day following the redemption order date if the Authorized Participant has collateralized
its obligation to deliver the Baskets through DTC’s book entry system on such terms as the Sponsor and the Trustee may from
time to time agree upon. The
Custodian transfers the redemption gold amount from the Trust Allocated Account to the Trust Unallocated Account and, thereafter,
to the redeeming Authorized Participant’s Authorized Participant Unallocated Account. The Authorized Participant and the
Trust are each at risk in respect of gold credited to their respective unallocated accounts in the event of the Custodian’s
insolvency. See “Risk Factors—gold held in the Trust’s unallocated gold account and any Authorized Participant’s
unallocated gold account is not segregated from the Custodian’s assets....” As
with the allocation of gold to the Trust Allocated Account which occurs upon a purchase order, if in transferring gold from the
Trust Allocated Account to the Trust Unallocated Account in connection with a redemption order there is an excess amount of gold
transferred to the Trust Unallocated Account, the excess over the gold redemption amount will be held in the Trust Unallocated
Account. The Custodian uses commercially reasonable efforts to minimize the amount of gold held in the Trust Unallocated Account;
no more than 430 fine troy ounces of gold (maximum weight to make one London Good Delivery Bar) is expected to be held in the
Trust Unallocated Account at the close of each business day. 15 Suspension
or rejection of redemption orders The
Trustee may, in its discretion, and will when directed by the Sponsor, suspend the right of redemption, or postpone the redemption
settlement date, (1) for any period during which the NYSE Arca is closed other than customary weekend or holiday closings, or
trading on the NYSE Arca is suspended or restricted or (2) for any period during which an emergency exists as a result of which
delivery, disposal or evaluation of gold is not reasonably practicable. None of the Sponsor, the Trustee or the Custodian are
liable to any person or in any way for any loss or damages that may result from any such suspension or postponement. The
Trustee will reject a redemption order if the order is not in proper form as described in the Authorized Participant Agreement
or if the fulfillment of the order, in the opinion of its counsel, might be unlawful. Creation
and Redemption Transaction Fe e To
compensate the Trustee for services in processing the creation and redemption of Baskets, an Authorized Participant is required
to pay a transaction fee to the Trustee of $500 per order to create or redeem Baskets. An order may include multiple Baskets.
The transaction fee may be reduced, increased or otherwise changed by the Trustee with the consent of the Sponsor. From time to
time, the Trustee, with the consent of the Sponsor, may waive all or a portion of the applicable transaction fee. The Trustee
shall notify DTC of any agreement to change the transaction fee and will not implement any increase in the fee for the redemption
of Baskets until 30 days after the date of the notice. The
Sponsor The
Trust's Sponsor is abrdn ETFs Sponsor LLC (known as Aberdeen Standard Investments ETFs Sponsor LLC prior to March 1, 2022 and
ETF Securities USA LLC prior to October 1, 2018), a Delaware limited liability company formed on June 17, 2009. The
Sponsor’s office is located at c/o abrdn ETFs Sponsor LLC, 1900 Market Street, Suite 200, Philadelphia, PA 19103. Prior
to April 27, 2018, the Sponsor was wholly-owned by ETF Securities Limited, a Jersey, Channel Islands based company. Effective
April 27, 2018, ETF Securities Limited sold its membership interest in the Sponsor to abrdn Inc. (known as Aberdeen Standard Investments
Inc. prior to January 1, 2022), a Delaware corporation. As a result of the sale, abrdn Inc. became the sole member of the Sponsor.
abrdn Inc. is a wholly-owned indirect subsidiary of abrdn plc, which together with its affiliates and subsidiaries, is collectively
referred to as “abrdn.” Under the Delaware Limited Liability Company Act and the governing documents of the Sponsor,
the sole member of the Sponsor, abrdn Inc., is not responsible for the debts, obligations and liabilities of the Sponsor solely
by reason of being the sole member of the Sponsor. The
Sponsor’s Role The
Sponsor arranged for the creation of the Trust, and is responsible for the ongoing registration of the Shares for their public
offering in the United States and the listing of the Shares on the NYSE Arca. The Sponsor has agreed to assume the following administrative
and marketing expenses incurred by the Tru the Trustee’s monthly fee and out-of-pocket expenses, the Custodian’s
fee and the reimbursement of the Custodian’s expenses under the Custody Agreements, Exchange listing fees, SEC registration
fees, printing and mailing costs, audit fees and up to $100,000 per annum in legal expenses. The Sponsor also paid the costs of
the Trust’s organization and the initial sale of the Shares, including the applicable SEC registration fees. 16 The
Sponsor does not exercise day-to-day oversight over the Trustee or the Custodian. The Sponsor may remove the Trustee and appoint
a successor Trustee (i) if the Trustee ceases to meet certain objective requirements (including the requirement that it have capital,
surplus and undivided profits of at least $150 million), (ii) if, having received written notice of a material breach of its obligations
under the Trust Agreement, the Trustee has not cured the breach within 30 days, or (iii) if the Trustee refuses to consent to
the implementation of an amendment to the Trust’s initial Internal Control Over Financial Reporting. The Sponsor also has
the right to replace the Trustee during the 90 days following any merger, consolidation or conversion in which the Trustee is
not the surviving entity or, in its discretion, on the fifth anniversary of the creation of the Trust or on any subsequent third
anniversary thereafter. The Sponsor also has the right to approve any new or additional custodian that the Trustee may wish to
appoint and any new or additional Zurich Sub-Custodian that the Custodian may wish to appoint. The
Sponsor or one of its affiliates or agents (1) develops a marketing plan for the Trust on an ongoing basis, (2) prepares marketing

proper form as described in the Authorized Participant Agreement or if the fulfillment of the order, in the opinion of counsel,

might be unlawful. None of the Trustee, the Sponsor or the Custodian will be liable for the rejection of any purchase order or

Creation Basket Deposit. Redemption

Procedures The

procedures by which an Authorized Participant can redeem one or more Baskets will mirror the procedures for the creation of Baskets.

On any business day, an Authorized Participant may place an order with the Trustee to redeem one or more Baskets. Redemption orders

must be placed no later than 3:59:59 p.m. on each business day the NYSE Arca is open for regular trading. In the event of a level

3 market-wide circuit breaker resulting in a trading halt for the remainder of the trading day, the time of the market-wide trading

halt is considered the close of regular trading and no redemption orders for the current trade date will be accepted after that

time (the “cutoff”). Orders placed after the cutoff will be deemed to be rejected and will not be processed. Orders

should be placed in proper form on the following business day. A redemption order so received is effective on the date it is received

in satisfactory form by the Trustee. The redemption procedures allow Authorized Participants to redeem Baskets and do not entitle

an individual Shareholder to redeem any Shares in an amount less than a Basket, or to redeem Baskets other than through an Authorized

Participant. By

placing a redemption order, an Authorized Participant agrees to deliver the Baskets to be redeemed through DTC’s book entry

system to the Trust not later than the second business day following the effective date of the redemption order. Prior to the

delivery of the redemption distribution for a redemption order, the Authorized Participant must also have wired to the Trustee

the non-refundable transaction fee due for the redemption order. 14 Determination

of redemption distribution The

redemption distribution from the Trust consists of a credit to the redeeming Authorized Participant’s Authorized Participant

Unallocated Account, either loco London or loco Zurich, representing the amount of the gold held by the Trust evidenced by the

Shares being redeemed. Fractions of a fine ounce of gold included in the redemption distribution smaller than 0.001 of a fine

ounce are disregarded. Redemption distributions will be subject to the deduction of any applicable tax or other governmental charges

which may be due. Delivery

of redemption distribution The

redemption distribution due from the Trust will be delivered to the Authorized Participant on the second business day following

a loco Zurich redemption order date if, by 10:00 a.m. New York time on such second business day, the Trustee’s DTC account

has been credited with the Baskets to be redeemed. The redemption distribution due from the Trust will be delivered to the Authorized

Participant on or before the fifth business day following a loco London redemption order date if, by 10:00 a.m. New York time

on the second business day after the loco London redemption order date, the Trustee’s DTC account has been credited with

the Baskets to be redeemed. If a loco swap or physical transfer is necessary to effect a loco London or loco Zurich redemption,

the redemption distribution due from the Trust will be delivered to the Authorized Participant on or before the fifth business

day following such a loco London or loco Zurich redemption order date if, by 10:00 a.m. New York time on the second business day

after the loco London or loco Zurich redemption order date, the Trustee’s DTC account has been credited with the Baskets

to be redeemed. In the event that, by 10:00 a.m. New York time on the second business day following the order date of a redemption

order, the Trustee’s DTC account has not been credited with the total number of Shares corresponding to the total number

of Baskets to be redeemed pursuant to such redemption order, the Trustee shall send to the Authorized Participant and the Custodian

via fax or electronic mail message notice of such fact and the Authorized Participant shall have two business days following receipt

of such notice to correct such failure. If such failure is not cured within such two business day period, the Trustee (in consultation

with the Sponsor) will cancel such redemption order and will send via fax or electronic mail message notice of such cancellation

to the Authorized Participant and the Custodian, and the Authorized Participant will be solely responsible for all costs incurred

by the Trust, the Trustee or the Custodian related to the cancelled order. The Trustee is also authorized to deliver the redemption

distribution notwithstanding that the Baskets to be redeemed are not credited to the Trustee’s DTC account by 10:00 a.m.

New York time on the second business day following the redemption order date if the Authorized Participant has collateralized

its obligation to deliver the Baskets through DTC’s book entry system on such terms as the Sponsor and the Trustee may from

time to time agree upon. The

Custodian transfers the redemption gold amount from the Trust Allocated Account to the Trust Unallocated Account and, thereafter,

to the redeeming Authorized Participant’s Authorized Participant Unallocated Account. The Authorized Participant and the

Trust are each at risk in respect of gold credited to their respective unallocated accounts in the event of the Custodian’s

insolvency. See “Risk Factors—gold held in the Trust’s unallocated gold account and any Authorized Participant’s

unallocated gold account is not segregated from the Custodian’s assets....” As

with the allocation of gold to the Trust Allocated Account which occurs upon a purchase order, if in transferring gold from the

Trust Allocated Account to the Trust Unallocated Account in connection with a redemption order there is an excess amount of gold

transferred to the Trust Unallocated Account, the excess over the gold redemption amount will be held in the Trust Unallocated

Account. The Custodian uses commercially reasonable efforts to minimize the amount of gold held in the Trust Unallocated Account;

no more than 430 fine troy ounces of gold (maximum weight to make one London Good Delivery Bar) is expected to be held in the

Trust Unallocated Account at the close of each business day. 15 Suspension

or rejection of redemption orders The

Trustee may, in its discretion, and will when directed by the Sponsor, suspend the right of redemption, or postpone the redemption

settlement date, (1) for any period during which the NYSE Arca is closed other than customary weekend or holiday closings, or

trading on the NYSE Arca is suspended or restricted or (2) for any period during which an emergency exists as a result of which

delivery, disposal or evaluation of gold is not reasonably practicable. None of the Sponsor, the Trustee or the Custodian are

liable to any person or in any way for any loss or damages that may result from any such suspension or postponement. The

Trustee will reject a redemption order if the order is not in proper form as described in the Authorized Participant Agreement

or if the fulfillment of the order, in the opinion of its counsel, might be unlawful. Creation

and Redemption Transaction Fe e To

compensate the Trustee for services in processing the creation and redemption of Baskets, an Authorized Participant is required

to pay a transaction fee to the Trustee of $500 per order to create or redeem Baskets. An order may include multiple Baskets.

The transaction fee may be reduced, increased or otherwise changed by the Trustee with the consent of the Sponsor. From time to

time, the Trustee, with the consent of the Sponsor, may waive all or a portion of the applicable transaction fee. The Trustee

shall notify DTC of any agreement to change the transaction fee and will not implement any increase in the fee for the redemption

of Baskets until 30 days after the date of the notice. The

Sponsor The

Trust's Sponsor is abrdn ETFs Sponsor LLC (known as Aberdeen Standard Investments ETFs Sponsor LLC prior to March 1, 2022 and

ETF Securities USA LLC prior to October 1, 2018), a Delaware limited liability company formed on June 17, 2009. The

Sponsor’s office is located at c/o abrdn ETFs Sponsor LLC, 1900 Market Street, Suite 200, Philadelphia, PA 19103. Prior

to April 27, 2018, the Sponsor was wholly-owned by ETF Securities Limited, a Jersey, Channel Islands based company. Effective

April 27, 2018, ETF Securities Limited sold its membership interest in the Sponsor to abrdn Inc. (known as Aberdeen Standard Investments

Inc. prior to January 1, 2022), a Delaware corporation. As a result of the sale, abrdn Inc. became the sole member of the Sponsor.

abrdn Inc. is a wholly-owned indirect subsidiary of abrdn plc, which together with its affiliates and subsidiaries, is collectively

referred to as “abrdn.” Under the Delaware Limited Liability Company Act and the governing documents of the Sponsor,

the sole member of the Sponsor, abrdn Inc., is not responsible for the debts, obligations and liabilities of the Sponsor solely

by reason of being the sole member of the Sponsor. The

Sponsor’s Role The

Sponsor arranged for the creation of the Trust, and is responsible for the ongoing registration of the Shares for their public

offering in the United States and the listing of the Shares on the NYSE Arca. The Sponsor has agreed to assume the following administrative

and marketing expenses incurred by the Tru the Trustee’s monthly fee and out-of-pocket expenses, the Custodian’s

fee and the reimbursement of the Custodian’s expenses under the Custody Agreements, Exchange listing fees, SEC registration

fees, printing and mailing costs, audit fees and up to $100,000 per annum in legal expenses. The Sponsor also paid the costs of

the Trust’s organization and the initial sale of the Shares, including the applicable SEC registration fees. 16 The

Sponsor does not exercise day-to-day oversight over the Trustee or the Custodian. The Sponsor may remove the Trustee and appoint

a successor Trustee (i) if the Trustee ceases to meet certain objective requirements (including the requirement that it have capital,

surplus and undivided profits of at least $150 million), (ii) if, having received written notice of a material breach of its obligations

under the Trust Agreement, the Trustee has not cured the breach within 30 days, or (iii) if the Trustee refuses to consent to

the implementation of an amendment to the Trust’s initial Internal Control Over Financial Reporting. The Sponsor also has

the right to replace the Trustee during the 90 days following any merger, consolidation or conversion in which the Trustee is

not the surviving entity or, in its discretion, on the fifth anniversary of the creation of the Trust or on any subsequent third

anniversary thereafter. The Sponsor also has the right to approve any new or additional custodian that the Trustee may wish to

appoint and any new or additional Zurich Sub-Custodian that the Custodian may wish to appoint. The

Sponsor or one of its affiliates or agents (1) develops a marketing plan for the Trust on an ongoing basis, (2) prepares marketing