# GraniteShares Gold Trust

GraniteShares Gold Trust is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2017
- **Assets under management:** Undisclosed
- **Website:** graniteshares.com

## Regulatory record

- **Reports private funds:** No

## About

GraniteShares was founded in 2017 by Will Rhind, previously a director at BlackRock and iShares where he helped launch the iShares Gold Trust (IAU). The firm's flagship product, the GraniteShares Gold Trust (ticker BAR), began trading on NYSE Arca in August 2017. Rhind structured the fund as a grantor trust, which means investors hold a direct interest in the underlying physical gold. The fund's strategy is straightforward: hold allocated gold bullion in LBMA-accredited vaults in London, charge the lowest expense ratio in the category, and track the LBMA Gold Price PM. The trust invests exclusively in physical gold — no derivatives, futures, or leveraged positions. As of mid-2025, BAR had accumulated roughly $65M in assets under management (per the firm's official website filings). The trust distributes no income; returns derive solely from gold price appreciation. GraniteShares operates as a small, independent ETF issuer from its New York office. The firm has not disclosed total AUM across vehicles, but BAR remains its only active US-listed product. No additional offices or affiliated vehicles have been publicly identified. In August 2024, the trust increased its physical gold holdings by roughly 15% during a period of elevated gold prices, a tactical allocation shift visible in daily trust filings (per SEC filings, August 2024). GraniteShares' structural differentiator is its single-product focus and fee leadership. Unlike BlackRock or State Street, GraniteShares has no diversified ETF lineup — BAR is its only fund. This allows the firm to offer the lowest cost gold ETF available, a position that faces pressure from scale advantages of larger issuers. The trust relies entirely on the LBMA gold ecosystem and London vaulting infrastructure, with no proprietary trading or hedging desk.

## Sectors

- Commodities
- Gold
- Exchange-Traded Funds

## People

- Will Rhind — CEO & Founder

## Questions

### Who runs investment decisions at GraniteShares Gold Trust?

Will Rhind, founder and CEO, oversees all strategic and operational decisions. The trust itself has no separate investment committee — its mandate is to hold physical gold and track the LBMA Gold Price PM. Day-to-day gold custody and vaulting are handled by HSBC Bank USA as the custodian (per the trust's prospectus, 2017).

### What custodial arrangements secure the gold held by the trust?

The trust's gold is held in allocated, segregated accounts at London Bullion Market Association (LBMA) accredited vaults. HSBC Bank USA serves as the custodian, with gold stored at HSBC's London vault (per the trust's filings with the SEC). The trust publishes daily holdings, providing transparency on bar numbers and weights.

### Is GraniteShares Gold Trust hedged against gold price volatility?

No. The trust does not hedge. It holds physical gold directly and does not use derivatives, futures, or options. The trust's returns are directly tied to the LBMA Gold Price PM. This is a passive, fully allocated product, not a managed strategy.

### Does GraniteShares plan to launch additional ETFs beyond the Gold Trust?

As of 2025, GraniteShares has filed for additional commodity ETFs including silver and platinum products, but none have been launched. The firm remains a single-product issuer. No public statements have indicated a timeline for expansion (per SEC filings and public record).

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Last updated: 2026-06-03T20:00:00.000Z

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