<SEC-DOCUMENT>0001483386-16-000026.txt : 20160516
<SEC-HEADER>0001483386-16-000026.hdr.sgml : 20160516
<ACCEPTANCE-DATETIME>20160516100330
ACCESSION NUMBER:		0001483386-16-000026
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160516
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20160516
DATE AS OF CHANGE:		20160516

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ETFS Precious Metals Basket Trust
		CENTRAL INDEX KEY:			0001483386
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34917
		FILM NUMBER:		161651242

	BUSINESS ADDRESS:	
		STREET 1:		ETF SECURITIES USA LLC
		STREET 2:		48 WALL STREET, 11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		212-918-4954

	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>8-K
<SEQUENCE>1
<FILENAME>gltr-20160516x8k.htm
<DESCRIPTION>8-K
<TEXT>
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			ETFS Precious Metals Basket Trust - Form 8-K
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			<a name="_GoBack"></a><font style="display: inline;font-weight:bold;font-size:18pt;">UNITED STATES</font><br /><font style="display: inline;font-size:18pt;"></font><font style="display: inline;font-weight:bold;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION </font><br /><font style="display: inline;font-size:18pt;"></font><font style="display: inline;font-weight:bold;font-size:18pt;">WASHINGTON, D.C. 20549 </font>
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			<font style="display: inline;font-size:9pt;">__________________________</font><br /><font style="display: inline;font-size:24pt;"></font><font style="display: inline;font-weight:bold;font-size:18pt;">FORM 8-K </font><br /><font style="display: inline;font-size:24pt;"></font><font style="display: inline;font-size:9pt;">__________________________</font><br /><font style="display: inline;font-size:24pt;"></font><br /><font style="display: inline;font-size:24pt;"></font><font style="display: inline;font-weight:bold;font-size:20pt;">CURRENT REPORT </font><br /><font style="display: inline;font-size:20pt;"></font><font style="display: inline;font-weight:bold;font-size:20pt;">Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 </font><br /><font style="display: inline;font-size:20pt;"></font><br /><font style="display: inline;font-size:24pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Date of Report (Date of Earliest Event Reported):&nbsp;May 16, 2016</font><br /><font style="display: inline;font-size:24pt;"></font><font style="display: inline;font-size:9pt;">__________________________</font><br /><font style="display: inline;font-size:24pt;">ETFS Precious Metals Basket Trust</font><br /><font style="display: inline;font-size:24pt;"></font><font style="display: inline;font-size:10pt;">(Exact name of registrant as specified in its charter) </font><br /><font style="display: inline;font-size:24pt;"></font><font style="display: inline;font-size:9pt;">__________________________</font>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">New York</font></p>
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">(State or other jurisdiction</font></p>
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						<font style="display: inline;font-size:10pt;">of incorporation)</font></p>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">001-34917</font></p>
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						<font style="display: inline;font-size:10pt;">(Commission File Number)</font></p>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">27-2780046</font></p>
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						<font style="display: inline;font-size:10pt;">(I.R.S. Employer</font></p>
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						<font style="display: inline;font-size:10pt;">Identification No.)</font></p>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">c/o ETFS Securities USA LLC</font><br /><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">48 Wall Street, 11</font><font style="display: inline;font-weight:bold;font-size:5pt;">th</font><font style="display: inline;font-weight:bold;font-size:10pt;"> Floor</font><br /><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">New York, New York 10005</font><br /><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:7.5pt;">(Address of Principal Executive Offices) </font><br /><font style="display: inline;font-size:10pt;"></font><br /><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Registrant&#x2019;s telephone number, including area code: (212)&nbsp;918-4954</font><br /><font style="display: inline;font-size:10pt;"></font><br /><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Not Applicable </font><br /><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:7.5pt;">Former name or former address, if changed since last report</font><font style="display: inline;font-size:10pt;">&nbsp;</font>
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			<font style="display: inline;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font>
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			<a name="Check1"></a><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font>
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			<a name="Check2"></a><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font>
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			<a name="Check3"></a><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font>
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			<a name="Check4"></a><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font>
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			<font style="display: inline;font-weight:bold;">Item 8.01. Other Events</font><font style="display: inline;">&nbsp;</font>
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			<font style="display: inline;">&nbsp;</font><font style="display: inline;">&nbsp;</font>
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			<font style="display: inline;background-color: #FFFFFF;">Effective May 16, 2016, </font><font style="display: inline;background-color: #FFFFFF;">CME Group, Inc. (&#x201C;CME Group&#x201D;) and Thomson Reuters (&#x201C;Thomson Reuters&#x201D;) </font><font style="display: inline;background-color: #FFFFFF;">have implemented changes to the methodology used </font><font style="display: inline;background-color: #FFFFFF;">to establish the </font><font style="display: inline;background-color: #FFFFFF;">London</font><font style="display: inline;background-color: #FFFFFF;">&nbsp;</font><font style="display: inline;background-color: #FFFFFF;">Bullion Market </font><font style="display: inline;background-color: #FFFFFF;">Silver Price</font><font style="display: inline;background-color: #FFFFFF;"> (the &#x201C;London Silver Price&#x201D;)</font><font style="display: inline;background-color: #FFFFFF;">. The </font><font style="display: inline;background-color: #FFFFFF;">London</font><font style="display: inline;background-color: #FFFFFF;">&nbsp;</font><font style="display: inline;">Silver Price is the price used with respect to calculation of the net asset value for </font><font style="display: inline;">the ETFS Silver Trust and the ETFS Precious Metals Basket Trust (each, a &#x201C;Trust,&#x201D; and together, the &#x201C;Trusts&#x201D;).&nbsp; </font><font style="display: inline;">The principal new measures, which were initially announced by the CME Group and Thomson Reuters through a press release issued on March 22, 2016, are as follows:</font>
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			<p style="line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 10pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-size:12pt;;"> &#xB7;</font>
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			<font style="display: inline;font-style:italic;color:#000000;">Introducing a blind auction</font><font style="display: inline;color:#000000;">: Only prices will be visible during each round; the aggregate bid and offer volumes will no longer be disclosed during each auction round. Once each auction round has ended, aggregate buy and sell volumes will be publicly available. </font></p></td></tr></table></div>
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			<p style="line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 10pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-size:12pt;;"> &#xB7;</font>
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			<font style="display: inline;font-style:italic;color:#000000;">Allocating the imbalance amount in the auction among participants</font><font style="display: inline;color:#000000;">: The </font><font style="display: inline;color:#000000;">London</font><font style="display: inline;color:#000000;"> Silver Price is established when the auction is determined as balanced, (</font><font style="display: inline;font-style:italic;color:#000000;">i.e.</font><font style="display: inline;color:#000000;">, at the end of a round, the total of buy and sell orders are within a predefined threshold). In the event that there is an imbalance when the auction is complete, the amount required to balance the buy and sell orders (</font><font style="display: inline;font-style:italic;color:#000000;">i.e.</font><font style="display: inline;color:#000000;">,</font><font style="display: inline;color:#000000;"> the imbalance amount) will be shared equally among all registered participants of the auction, even if a participant has not placed an order in the auction for that day. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 10pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-size:12pt;;"> &#xB7;</font>
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			<font style="display: inline;font-style:italic;color:#000000;">Increasing the imbalance tolerance</font><font style="display: inline;color:#000000;">: In exceptional circumstances, CME Group as the calculation agent can increase the imbalance threshold during an auction, within an approved range, to establish the </font><font style="display: inline;color:#000000;">London</font><font style="display: inline;color:#000000;"> Silver Price and settle the auction.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 18pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;background-color: #FFFFFF;color:#000000;">ETF Securities USA LLC</font><font style="display: inline;background-color: #FFFFFF;color:#000000;">, the </font><font style="display: inline;color:#000000;">Sponsor </font><font style="display: inline;color:#000000;">of each Trust, </font><font style="display: inline;color:#000000;">understands that the above changes are being made to further enhance and develop the </font><font style="display: inline;color:#000000;">London</font><font style="display: inline;color:#000000;"> Silver Price. </font>
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			<font style="display: inline;color:#000000;">&nbsp; &nbsp;</font>
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			<font style="display: inline;font-size:10pt;">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, hereunto duly authorized. </font>
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			<font style="display: inline;font-size:10pt;">Date: May 16, 2016</font>
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			<font style="display: inline;font-weight:bold;">ETFS Precious Metals Basket Trust</font><br /><font style="display: inline;"></font><br /><font style="display: inline;"></font><font style="display: inline;font-size:10pt;">By:ETF Securities USA LLC, Sponsor of the ETFS Precious Metals Basket Trust.</font>
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						<font style="display: inline;font-size:10pt;">By:</font></p>
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						<font style="display: inline;font-size:10pt;">/s/ Graham Tuckwell</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Graham Tuckwell</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">President and Chief Executive Officer</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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						<font style="display: inline;font-size:10pt;">(Principal Executive Officer)</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;">&nbsp;</font></p>
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						<font style="display: inline;font-size:10pt;">By:</font></p>
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					<p style="margin:0pt 0pt 0pt 0.1pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">/s/ Christopher Foulds</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Christopher Foulds</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Chief Financial Officer and Treasurer</font></p>
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">(Principal Financial Officer and Principal Accounting Officer)</font></p>
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