GraniteShares Platinum Trust
PLTM
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- GraniteShares Platinum Trust (PLTM) is a grantor trust that issues exchange-traded shares designed to reflect the performance of the price of physical platinum bullion, less the Trust's expenses and liabilities. The Trust's assets consist solely of allocated London Platinum and Palladium Market (LPPM) Good Delivery platinum bars held in a secure vault in London, United Kingdom, by custodian ICBC Standard Bank Plc; no lending or derivatives are permitted, ensuring minimal counterparty risk and daily transparency via published holdings audited twice annually. Shares trade on NYSE Arca under the ticker PLTM and are issued or redeemed only in Baskets of 50,000 shares by Authorized Participants in exchange for the corresponding amount of platinum, valued daily based on the LBMA Platinum Price PM (or AM if unavailable). GraniteShares LLC serves as Sponsor, handling marketing, registration, and certain ordinary expenses including Trustee fees from The Bank of New York Mellon, Custodian fees, NYSE listing fees, and up to $500,000 annually in legal costs; the Sponsor's Fee accrues at 0.50% of the Trust's net asset value, payable monthly via platinum sales. Formed on January 11, 2018, and headquartered at 222 Broadway, 21st Floor, New York, New York 10038, the Trust provides investors with cost-effective, brokerage-accessible exposure to platinum—a dual-nature metal used in catalytic converters, fuel cells, jewelry, biomedical applications, and green technologies—without the complexities of direct physical ownership. The Trust operates in the commodity ETF segment, targeting retail and institutional investors seeking platinum price participation amid industrial demand from automotive emissions controls and diversification from other precious metals. In recent developments, outstanding Shares grew from 4.4 million (valued at $43.1 million) as of June 30, 2024, to 6.55 million (valued at $85.2 million) as of June 30, 2025, reflecting increased investor inflows amid platinum market volatility driven by global supply factors including South African production and recycling. The Trust prospectus was updated as of January 23, 2024, reaffirming its structure with no reported changes to key parties, fees, or operations; no major acquisitions, partnerships, funding rounds, or strategic shifts have been announced within the last 1-2 years. Assets remain fully physically backed, with platinum sales limited to covering the Sponsor's Fee and non-assumed liabilities like potential taxes.