The abrdn Gold ETF Trust is a physically-backed gold ETF that trades on NYSE Arca. The Trust holds physical gold bullion as its sole asset, and each Share represents a fractional undivided interest in that gold. The Trust gives investors exposure to gold price movements without the complexity of buying, storing, and insuring physical gold directly. The Trust is entirely passive — it holds gold, does not use derivatives or leverage, and does not actively manage its holdings. The Trust charges a single annual Sponsor's Fee of 0.17% of net asset value, accrued daily and paid monthly in gold to the Sponsor, abrdn ETFs Sponsor LLC. This fee covers essentially all operating costs, including trustee, custodian, and audit fees. Because the fee is paid in gold, each Share represents a slightly declining amount of gold over time. Shares are created and redeemed in blocks of 100,000 Shares (called Baskets) exclusively through Authorized Participants — registered broker-dealers who deposit or withdraw physical gold in exchange for Shares. Retail investors access Shares through standard brokerage accounts on the secondary market. The Trust's gold is held in allocated accounts at ICBC's London vaults. The Trust's AUM — and therefore its fee revenue — moves directly with the gold price and net Share issuance activity.