VanEck Merk Gold ETF Reports Significant Growth in Assets and Performance

As of July 31, 2024, the VanEck Merk Gold ETF reported significant growth in its financial performance compared to the previous fiscal period. The total assets of the ETF reached $1,018.1 million, a substantial increase from $786.1 million as of January 31, 2024. This growth was primarily driven by an increase in investments in gold bullion, which rose to $1,018.1 million (cost basis of $735.2 million) from $780.2 million (cost basis of $659.4 million) in the same timeframe.

Net assets also saw a notable increase, climbing to $1,018.1 million from $780.2 million, while accumulated earnings surged to $284.3 million, up from $123.1 million. The number of shares outstanding increased to 43,037,292 from 39,626,030, reflecting a robust demand for shares during the period.

The net asset value (NAV) per share rose to $23.66, a significant increase from $19.69 at the end of January 2024. This increase in NAV was accompanied by a total return of 6.87% for the three months ended July 31, 2024, compared to a decline of 0.68% in the same period of the previous year.

The ETF reported a net realized gain from gold bullion distributed for redemptions of $133,437 for the three months ended July 31, 2024, and $196,116 for the six months ended July 31, 2024. The net change in unrealized appreciation on investments in gold bullion was $64.2 million for the three months ended July 31, 2024, compared to a loss of $4.5 million in the same period of 2023. For the six months, unrealized appreciation increased to $162.2 million from $15.4 million.

The ETF's operational performance also improved, with a net increase in net assets resulting from operations of $63.7 million for the three months ended July 31, 2024, compared to a decrease of $4.9 million in the same period of the previous year. For the six months, the increase was $161.2 million, up from $15.1 million.

In terms of strategic developments, the ETF transitioned its pricing index from the LBMA Gold Price to the Solactive Gold Spot Index, which is expected to enhance the accuracy of gold pricing. The Trust's marketing agent earned a fee of $151,234.60 for the calendar quarter ended July 31, 2023, with total fees paid since October 2015 amounting to $1.27 million.

Overall, the VanEck Merk Gold ETF demonstrated strong financial growth and operational improvements in the latest reporting period, reflecting favorable market conditions and strategic adjustments.