<SEC-DOCUMENT>0001459862-18-000007.txt : 20180228
<SEC-HEADER>0001459862-18-000007.hdr.sgml : 20180228
<ACCEPTANCE-DATETIME>20180228113522
ACCESSION NUMBER:		0001459862-18-000007
CONFORMED SUBMISSION TYPE:	10-K/A
PUBLIC DOCUMENT COUNT:		12
CONFORMED PERIOD OF REPORT:	20171231
FILED AS OF DATE:		20180228
DATE AS OF CHANGE:		20180228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ETFS PALLADIUM TRUST
		CENTRAL INDEX KEY:			0001459862
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34589
		FILM NUMBER:		18648996

	BUSINESS ADDRESS:	
		STREET 1:		ETF SECURITIES USA LLC
		STREET 2:		48 WALL STREET, 11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		212-918-5954

	MAIL ADDRESS:	
		STREET 1:		ETF SECURITIES USA LLC
		STREET 2:		48 WALL STREET, 11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K/A
<SEQUENCE>1
<FILENAME>pall-20171231x10ka.htm
<DESCRIPTION>10-K/A
<TEXT>
<!--HTML document created with Certent Disclosure Management 6.15.0.1-->
<!--Created on: 28/02/2018 16:32:24-->
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	<head>
		<title>
			Palladium Trust 10K-A Final
		</title>
	</head>
	<body><div style="margin-left:36pt;margin-right:36pt;">
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 14pt">
			<a name="_GoBack"></a><font style="display: inline;font-weight:bold;font-size:14pt;">UNITED STATES</font><font style="display: inline;font-weight:bold;font-size:14pt;">&nbsp;</font><br /><font style="display: inline;font-weight:bold;font-size:14pt;"></font><font style="display: inline;font-weight:bold;font-size:14pt;">SECURITIES AND EXCHANGE COMMISSION</font><font style="display: inline;font-weight:bold;font-size:14pt;">&nbsp;</font><br /><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;font-size:12pt;">Washington, D.C. 20549</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 18pt">
			<font style="display: inline;font-weight:bold;font-size:18pt;">Form 10-K</font><font style="display: inline;font-weight:bold;font-size:18pt;">/A</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">(Amendment No. 1)</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-size:9pt;">(Mark One)</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;font-size:12pt;">&#x2612;</font><font style="display: inline;font-weight:bold;font-size:12pt;">&nbsp;</font><font style="display: inline;font-weight:bold;font-size:12pt;">ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-weight:bold;font-size:9pt;">For the fiscal year ended </font><font style="display: inline;font-weight:bold;font-size:9pt;">December 31, 2017</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-weight:bold;font-size:9pt;">or</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-size:12pt;">&#x2610;</font><font style="display: inline;font-weight:bold;font-size:12pt;"> TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-style:italic;font-size:9pt;">Commission file number: 001-34589</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 24pt">
			<font style="display: inline;font-weight:bold;font-size:24pt;">ETFS PALLADIUM TRUST</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-style:italic;font-size:9pt;">(Exact name of registrant as specified in its charter)</font>
		</p>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">New York</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">26-4733157</font></p>
				</td>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-style:italic;font-size:9pt;">(State or other jurisdiction of</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-style:italic;font-size:9pt;">(I.R.S. Employer</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-style:italic;font-size:9pt;">incorporation or organization)</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-style:italic;font-size:9pt;">Identification No.)</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
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			<tr>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">c/o ETF Securities USA LLC</font></p>
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				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
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				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
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			<tr>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">405 Lexington Avenue</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">New York, NY</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">10174</font></p>
				</td>
			</tr>
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				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-style:italic;font-size:9pt;">(Address of principal executive offices)</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-style:italic;font-size:9pt;">(Zip Code)</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-weight:bold;font-size:9pt;">Registrant&#x2019;s telephone number, including area code:</font><br /><font style="display: inline;font-weight:bold;font-size:9pt;"></font><font style="display: inline;font-weight:bold;font-size:9pt;">(</font><font style="display: inline;font-weight:bold;font-size:9pt;">646</font><font style="display: inline;font-weight:bold;font-size:9pt;">) 846 </font><font style="display: inline;font-weight:bold;font-size:9pt;">3130</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-weight:bold;font-size:9pt;">Securities registered pursuant to Section 12(b) of the Act:</font>
		</p>
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				<td valign="top" style="width:16.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
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				<td valign="top" style="width:16.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
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				<td valign="top" style="width:16.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:06.48%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
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				<td valign="top" style="width:34.64%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:06.88%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:16.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:16.00%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">Title of each class</font></p>
				</td>
				<td valign="top" style="width:16.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:06.48%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:34.64%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-weight:bold;font-size:9pt;">Name of each exchange on which registered</font></p>
				</td>
				<td valign="top" style="width:06.88%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="3" valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">ETFS Physical Palladium Shares</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td colspan="3" valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">NYSE Arca</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-weight:bold;font-size:9pt;">Securities registered pursuant to Section 12(g) of the Act: None</font>
		</p>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:12.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:87.48%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:12.52%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:87.48%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</font></p>
				</td>
				<td valign="top" style="width:12.52%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Yes </font><font style="display: inline;font-size:9pt;">&#x2610;</font><font style="display: inline;font-size:9pt;"> No </font><font style="display: inline;font-size:9pt;">&#x2612;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:87.48%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:12.52%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:87.48%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.</font></p>
				</td>
				<td valign="top" style="width:12.52%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Yes </font><font style="display: inline;font-size:9pt;">&#x2610;</font><font style="display: inline;font-size:9pt;"> No </font><font style="display: inline;font-size:9pt;">&#x2612;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:87.48%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:12.52%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:100.00%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 9pt">
						<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"><font style="display: inline;font-size:9pt;">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</font></font><font style="display: inline;font-size:9pt;;font-size: 9pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:9pt;">Yes </font><font style="display: inline;font-size:9pt;">&#x2612;</font><font style="display: inline;font-size:9pt;"> No </font><font style="display: inline;font-size:9pt;">&#x2610;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:87.48%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:12.52%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:100.00%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 9pt">
						<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"><font style="display: inline;font-size:9pt;">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.</font></font><font style="display: inline;font-size:9pt;;font-size: 9pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:9pt;">Yes </font><font style="display: inline;font-size:9pt;">&#x2612;</font><font style="display: inline;font-size:9pt;"> No </font><font style="display: inline;font-size:9pt;">&#x2610;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:6pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-size:9pt;">Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant&#x2019;s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. </font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-size:9pt;">&#x2612;</font>
		</p>
		<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 9pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;;font-size: 9pt"><font style="display: inline;font-size:9pt;"></font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-size:9pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company</font><font style="display: inline;font-size:9pt;">&nbsp;</font><font style="display: inline;font-size:9pt;">or emerging growth company</font><font style="display: inline;font-size:9pt;">. See the definitions of &#x201C;large accelerated filer,&#x201D; &#x201C;accelerated filer&#x201D;</font><font style="display: inline;font-size:9pt;">,</font><font style="display: inline;font-size:9pt;">&#x201C;smaller reporting company&#x201D; </font><font style="display: inline;font-size:9pt;">and &#x201C;emerging growth company&#x201D; </font><font style="display: inline;font-size:9pt;">in Rule 12b-2 of the Exchange Act.</font><font style="display: inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:48.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Large accelerated filer </font><font style="display: inline;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Accelerated filer </font><font style="display: inline;font-size:9pt;">&#x2612;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:48.00%;height:17.64pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Non-accelerated filer </font><font style="display: inline;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="top" style="width:04.00%;height:17.64pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;height:17.64pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Smaller reporting company </font><font style="display: inline;font-size:9pt;">&#x2610;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Emerging growth company </font><font style="display: inline;font-size:9pt;">&#x2610;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:87.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:12.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:87.48%;padding:0pt;">
					<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.</font></p>
				</td>
				<td valign="top" style="width:12.52%;padding:0pt;">
					<p style="margin:6pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">&#x2610;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:87.48%;padding:0pt;">
					<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).</font></p>
				</td>
				<td valign="top" style="width:12.52%;padding:0pt;">
					<p style="margin:6pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-size:9pt;">Yes </font><font style="display: inline;font-size:9pt;">&#x2610;</font><font style="display: inline;font-size:9pt;"> No </font><font style="display: inline;font-size:9pt;">&#x2612;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-size:9pt;">Aggregate market value of the registrant&#x2019;s shares outstanding based upon the closing price of a share on June 30, 201</font><font style="display: inline;font-size:9pt;">7</font><font style="display: inline;font-size:9pt;"> as reported by the NYSE Arca, Inc. on that date: </font><font style="display: inline;font-size:9pt;">$</font><font style="display: inline;font-size:9pt;">205,759,500</font><font style="display: inline;font-size:9pt;">.</font>
		</p>
		<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-size:9pt;">As of February 2</font><font style="display: inline;font-size:9pt;">1</font><font style="display: inline;font-size:9pt;">, 201</font><font style="display: inline;font-size:9pt;">8</font><font style="display: inline;font-size:9pt;">, ETFS Palladium Trust has </font><font style="display: inline;font-size:9pt;">2,500,000 </font><font style="display: inline;font-size:9pt;">ETFS Physical Palladium Shares outstanding.</font><font style="display: inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-weight:bold;font-size:9pt;">DOCUMENTS INCORPORATED BY REFERENCE: </font><font style="display: inline;font-size:9pt;">None.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;"></font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">EXPLANATORY NOTE</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">This Annual Report on Form 10-K/A constitutes Amendment No. 1 (&#x201C;the Amendment&#x201D;) to the ETFS </font><font style="display: inline;">Palladium</font><font style="display: inline;"> Trust&#x2019;s Annual Report on Form 10-K for the year ended December 31, 201</font><font style="display: inline;">7</font><font style="display: inline;">, which was originally filed with the Securities and Exchange Commission on February </font><font style="display: inline;">27</font><font style="display: inline;">, 201</font><font style="display: inline;">8</font><font style="display: inline;"> (&#x201C;the Original Filing&#x201D;).&nbsp;&nbsp;This Amendment is being filed solely to </font><font style="display: inline;">amend the dates of the opi</font><font style="display: inline;">nions of KPMG LLP within Part I</font><font style="display: inline;">I, Part IV and </font><font style="display: inline;">Exhibit 23.1</font><font style="display: inline;"> which were incorrect in the </font><font style="display: inline;">Original Filing. </font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">No other change is made to the Original Filing. This Amendment does not purport to provide an update or a discussion of any other developments subsequent to the Original Filing. Accordingly, this Amendment should be read in conjunction with the Original Filing.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;"></font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">PART II</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;color:#000000;">I</font><a name="c68592a029_v1"></a><font style="display: inline;font-weight:bold;color:#000000;">tem 9A. Controls and Procedures</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">&#xFEFF;</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:center;font-family:Arial;font-weight:bold;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">To the Sponsor, Trustee and Shareholders</font><br /><font style="display: inline;">ETFS Palladium Trust:</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-style:italic;">Opinion on Internal Control Over Financial Reporting </font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We have audited ETFS Palladium Trust&#x2019;s (the Trust) internal control over financial reporting as of December&nbsp;31, 2017, based on criteria established in</font><font style="display: inline;font-style:italic;"> Internal Control &#x2013; Integrated Framework (2013)</font><font style="display: inline;"> issued by the Committee of Sponsoring Organizations of the Treadway Commission. In our opinion, the Trust maintained, in all material respects, effective internal control over financial reporting as of December&nbsp;31, 2017, based on criteria established in </font><font style="display: inline;font-style:italic;">Internal Control &#x2013; Integrated Framework (2013)</font><font style="display: inline;"> issued by the Committee of Sponsoring Organizations of the Treadway Commission.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the statement of assets and liabilities of the Trust, including the schedules of investments, as of December&nbsp;31, 2017 and 2016, the related statements of operations and changes in net assets, and the related notes (collectively, the financial statements)</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">and financial highlights for each of the years in the three-year period ended December&nbsp;31, 2017, and our report dated February 2</font><font style="display: inline;">3</font><font style="display: inline;">, 2018 expressed an unqualified opinion on those financial statements and financial highlights.</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-style:italic;">Basis for Opinion </font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">The Trust&#x2019;s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management&#x2019;s Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Trust&#x2019;s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-style:italic;">Definition and Limitations of Internal Control Over Financial Reporting </font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">A company&#x2019;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements and financial highlights for external purposes in accordance with generally accepted accounting principles. A company&#x2019;s internal control over financial reporting includes those policies and procedures that (1)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2)&nbsp;provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements and financial highlights in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)&nbsp;provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#x2019;s assets that could have a material effect on the financial statements and financial highlights.</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">/s/KPMG LLP</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">New York, New York</font><br /><font style="display: inline;">February 2</font><font style="display: inline;">3</font><font style="display: inline;">, 2018</font>
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			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:6pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
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		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">PART </font><a name="partiiii"></a><font style="display: inline;font-weight:bold;">IV</font>
		</p>
		<p style="margin:8pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">Item 15. Exhibits, </font><a name="Item15"></a><font style="display: inline;font-weight:bold;">Financial Statement Schedules&nbsp;</font><font style="display: inline;font-family:Calibri;">&nbsp;</font>
		</p>
		<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">3. Exhibits </font>
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			<font style="display: inline;font-weight:bold;">&#xFEFF;</font>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Exhibit No.</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Description</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">23.1</font></p>
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						<a href="pall-20171231xex23_1.htm" style="-sec-extract:exhibit"><font style="display: inline;">Consent of KPMG LLP, Independent Registered Public Accounting Firm</font></a></p>
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			<font style="display: inline;">&#xFEFF;</font>
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			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:6pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">Financial Statements</font>
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		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;">REPORT OF INDEPENDENT </font><a name="REPORTOFINDEPENDENTREGISTEREDPUBLIC"></a><font style="display: inline;font-weight:bold;">REGISTERED PUBLIC ACCOUNTING FIRM</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">To the Sponsor, Trustee and Shareholders</font><br /><font style="display: inline;">ETFS Palladium Trust:</font>
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		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-style:italic;">Opinion on the Financial Statements</font>
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		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We have audited the accompanying statement of assets and liabilities of ETFS Palladium Trust (the &#x201C;Trust&#x201D;), including the schedules of investments, as of December&nbsp;31, 2017 and 2016, the related statements of operations and changes in net assets for each of the years in the three-year period ended December 31, 2017, and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the three</font><font style="display: inline;">&#8209;year period ended December&nbsp;31, 2017. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Trust as of December&nbsp;31, 2017 and 2016, and the results of its operations and the changes in its net assets, for each of the years in the three</font><font style="display: inline;">&#8209;year period ended December&nbsp;31, 2017, and financial highlights for each of the years in the three-year period ended December 31, 2017, in conformity with U.S.&nbsp;generally accepted accounting principles.</font>
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		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Trust&#x2019;s internal control over financial reporting as of December 31, 2017, based on criteria established in </font><font style="display: inline;font-style:italic;">Internal Control &#x2013; Integrated Framework (2013)</font><font style="display: inline;"> issued by the Committee of Sponsoring Organizat</font><font style="display: inline;">ions of the Treadway Commission</font><font style="display: inline;">, and our report dated February 2</font><font style="display: inline;">3</font><font style="display: inline;">, 2018 expressed an unqualified opinion on the effectiveness of the Trust&#x2019;s internal control over financial reporting.</font>
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		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-style:italic;">Basis for Opinion</font>
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			<font style="display: inline;">These financial statements and financial highlights are the responsibility of the Trust&#x2019;s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Trust in accordance with the U.S.&nbsp;federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font>
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		<p style="margin:6pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.</font>
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		<p style="margin:6pt 0pt 0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">/s/KPMG LLP</font>
		</p>
		<p style="margin:6pt 0pt 0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">We have served as the Trust&#x2019;s auditor since 2015.</font>
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		<p style="margin:6pt 0pt 0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">New York, New York</font><br /><font style="display: inline;">February 2</font><font style="display: inline;">3</font><font style="display: inline;">, 2018</font>
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			<font style="display: inline;">&#xFEFF;</font>
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			&nbsp;
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		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p><div style="width:100%">

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			&nbsp;

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</div>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;font-weight:bold;">SIGNATURES</font>
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			<font style="display: inline;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned in the capacities* indicated thereunto duly authorized. </font>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">ETF SECURITIES USA LLC</font></p>
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						&nbsp;</p>
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						<font style="display: inline;">Sponsor of the ETFS Palladium Trust</font></p>
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						&nbsp;</p>
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						<font style="display: inline;">(Registrant)</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						<font style="display: inline;">Date: </font><font style="display: inline;">February 2</font><font style="display: inline;">8</font><font style="display: inline;">, 201</font><font style="display: inline;">8</font></p>
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					<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">/s/ Graham Tuckwell</font></p>
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						&nbsp;</p>
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						<font style="display: inline;">Graham Tuckwell</font><font style="display: inline;">*</font></p>
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						&nbsp;</p>
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						<font style="display: inline;">President and Chief Executive Officer</font></p>
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						&nbsp;</p>
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						<font style="display: inline;">(Principal Executive Officer)</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						<font style="display: inline;">Date: </font><font style="display: inline;">February 2</font><font style="display: inline;">8</font><font style="display: inline;">, 201</font><font style="display: inline;">8</font></p>
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					<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">/s/ Christopher Foulds</font></p>
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						<font style="display: inline;">Christopher Foulds</font><font style="display: inline;">*</font></p>
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				<td valign="top" style="width:40.00%;padding:0pt;">
					<p style="margin:6pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
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			<font style="display: inline;">* The Registrant is a trust and the persons are signing in their capacities as officers of ETF Securities USA LLC, the Sponsor of the Registrant.</font>
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			Exhibit 23.1
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font>
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			<font style="display: inline;font-family:Times New Roman;font-size:10pt;">We consent to the incorporation by reference in the registration statement (No. 333 195204) on Form S-3 of ETFS Palladium Trust of our reports dated February 2</font><font style="display: inline;font-family:Times New Roman;font-size:10pt;">3</font><font style="display: inline;font-family:Times New Roman;font-size:10pt;">, 2018, with respect to the statements of assets and liabilities of ETFS Palladium Trust, including the schedules of investments, as of December 31, 2017 and 2016, and the related statements of operations and changes in net assets for each of the years in the three-year period ended December 31, 2017 and the related notes (collectively, the &#x201C;financial statements&#x201D;) and financial highlights for each of the years in the three-year period ended December 31, 2017, and the effectiveness of internal control over financial reporting as of December 31, 2017, which reports appear in the December 31, 2017 annual report on Form 10 K of ETFS Palladium Trust.</font>
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			<font style="display: inline;font-family:Times New Roman;font-size:10pt;">/s/KPMG LLP</font>
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			<font style="display: inline;font-family:Times New Roman;font-size:10pt;">February 2</font><font style="display: inline;font-family:Times New Roman;font-size:10pt;">3</font><font style="display: inline;font-family:Times New Roman;font-size:10pt;">, 2018</font>
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<td class="text">This Annual Report on Form 10-K/A constitutes Amendment No. 1 ("the Amendment") to the ETFS Palladium Trust's Annual Report on Form 10-K for the year ended December 31, 2017, which was originally filed with the Securities and Exchange Commission on February 27, 2018 ("the Original Filing").  This Amendment is being filed solely to amend the dates of the opinions of KPMG LLP within Part II, Part IV and Exhibit 23.1 which were incorrect in the Original Filing.
No other change is made to the Original Filing. This Amendment does not purport to provide an update or a discussion of any other developments subsequent to the Original Filing. Accordingly, this Amendment should be read in conjunction with the Original Filing.
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<td class="text">pall<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">pall_DocumentAndEntityInformationAbstract</td>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
 *
 */

var Show = {};
Show.LastAR = null,

Show.hideAR = function(){
	Show.LastAR.style.display = 'none';
};

Show.showAR = function ( link, id, win ){
	if( Show.LastAR ){
		Show.hideAR();
	}

	var ref = link;
	do {
		ref = ref.nextSibling;
	} while (ref && ref.nodeName != 'TABLE');

	if (!ref || ref.nodeName != 'TABLE') {
		var tmp = win ?
			win.document.getElementById(id) :
			document.getElementById(id);

		if( tmp ){
			ref = tmp.cloneNode(true);
			ref.id = '';
			link.parentNode.appendChild(ref);
		}
	}

	if( ref ){
		ref.style.display = 'block';
		Show.LastAR = ref;
	}
};

Show.toggleNext = function( link ){
	var ref = link;

	do{
		ref = ref.nextSibling;
	}while( ref.nodeName != 'DIV' );

	if( ref.style &&
		ref.style.display &&
		ref.style.display == 'none' ){
		ref.style.display = 'block';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '+', '-' );
		}else{
			link.innerText = link.innerText.replace( '+', '-' );
		}
	}else{
		ref.style.display = 'none';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '-', '+' );
		}else{
			link.innerText = link.innerText.replace( '-', '+' );
		}
	}
};
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

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