XML 29 R11.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Organization
12 Months Ended
Dec. 31, 2019
Organization [Abstract]  
Organization

1. Organization

The Aberdeen Standard Gold ETF Trust (the “Trust”) is an investment trust formed on September 1, 2009 (the “Date of Inception”) under New York law pursuant to a depositary trust agreement (the “Trust Agreement”) executed by Aberdeen Standard Investments ETFs Sponsor LLC (the “Sponsor”) and The Bank of New York Mellon as trustee (the “Trustee”) at the time of the Trust’s organization. The Trust holds gold bullion and issues Aberdeen Standard Physical Gold Shares ETF (the “Shares”) in minimum blocks of Shares (also referred to as “Baskets”) in exchange for deposits of gold and distributes gold in connection with the redemption of Baskets.  Prior to November 4, 2019, the number of Shares that constituted a Basket was 50,000 Shares. Effective November 4, 2019, the Basket size was increased to 100,000 Shares. Shares represent units of fractional undivided beneficial interest in and ownership of the Trust which are issued by the Trust. The Sponsor is a Delaware limited liability company and a wholly owned subsidiary of Aberdeen Standard Investments Inc. (“ASII”). ASII is a wholly-owned indirect subsidiary of Standard Life Aberdeen plc. The Trust is governed by the Trust Agreement.

The investment objective of the Trust is for the Shares to reflect the performance of the price of gold, less the Trust’s expenses and liabilities. The Trust is designed to provide an individual owner of beneficial interests in the Shares (a “Shareholder”) an opportunity to participate in the gold market through an investment in securities.