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GraniteShares Platinum Trust
GraniteShares Platinum Trust (PLTM) — physically backed platinum ETF by William Rhind's GraniteShares, launched 2018, storing bars in London vaults.
GraniteShares Platinum Trust
GraniteShares Platinum Trust was introduced in 2018 by GraniteShares, a New York-based issuer of exchange-traded products focused on commodities and single-stock ETFs. The firm, led by CEO William Rhind, launched PLTM to provide retail and institutional investors a way to gain direct exposure to physical platinum without the complexities of futures or mining equities. The trust holds physical platinum bars stored in London vaults, with the metal sourced from LBMA-accredited refiners. It charges an expense ratio of 0.50% and distributes no dividends, reflecting its pure commodity structure. The vehicle is designed for investors seeking a hedge against inflation or currency debasement, though platinum's industrial uses in automotive catalysts and jewelry also drive demand. Geographic exposure is global, as platinum prices are influenced by supply from South Africa and Russia and demand from Chinese and European auto markets (per World Platinum Investment Council, 2023). GraniteShares has not disclosed total assets under management for the Platinum Trust specifically, and the firm's broader product suite includes over 60 ETFs. The trust competes primarily with the abrdn Physical Platinum Shares ETF (PPLT) and offers no leveraged or inverse versions. No recent operational events were identified for the platinum product (per public filings). The trust's structural differentiator is its physical backing: unlike futures-based funds, PLTM eliminates roll yield risk, and its vaulted storage model is simpler than mining-equity exposure. The trust's passive, buy-and-hold format contrasts with actively managed commodity funds, aligning with GraniteShares' focus on rules-based, transparent vehicles.
General information
Firm type
Asset Manager
Year founded
2018
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
William Rhind
CEO
Sector focus
Frequently asked questions
Who runs investment decisions at GraniteShares Platinum Trust?
The trust is managed by GraniteShares, with CEO William Rhind overseeing strategy. Day-to-day portfolio decisions follow a rules-based mandate: the trust holds physical platinum bars and does not engage in active trading or market timing (per GraniteShares website, 2024).
How does GraniteShares Platinum Trust source its platinum?
The trust sources platinum bars from LBMA-accredited refiners and stores them in London vaults. The metal is purchased in the spot market, and the trust does not use futures or derivatives. This structure avoids contango and backwardation risks (per prospectus).
Is GraniteShares Platinum Trust structured as a commodity pool or a grantor trust?
The trust is structured as a grantor trust under the Internal Revenue Code. This means investors have direct ownership of the underlying platinum in proportion to their shares, and the trust files tax documents accordingly. It is not a commodity pool or a mutual fund (per SEC filing).
Does GraniteShares Platinum Trust pay dividends or generate income?
No. The trust does not generate income or pay dividends, as it simply holds physical metal without lending or trading. The only return is from changes in platinum spot prices minus the expense ratio (per prospectus).
What is the expense ratio and how does it compare to competitors?
The expense ratio is 0.50%, which is comparable to the abrdn Physical Platinum Shares ETF (PPLT) at 0.50%. The trust's fee is all-in, covering storage, insurance, and administrative costs (per GraniteShares website, 2024).
How does the trust handle redemptions and creation of shares?
The trust uses a creation/redemption mechanism typical of ETFs. Authorized participants can create or redeem shares by delivering or receiving physical platinum bars, ensuring the share price closely tracks the spot price of platinum (per prospectus).
What is the tax treatment of investing in GraniteShares Platinum Trust?
The trust is structured as a grantor trust, so investors are treated as directly owning the underlying metal for tax purposes. Gains and losses are reported on IRS Schedule K-1, and the trust does not engage in lending or other income-generating activities (per SEC guidance).
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