GraniteShares Platinum Trust is a passively managed exchange-traded product (ETP) that holds physical platinum bullion on behalf of investors. Each share represents a fractional ownership interest in the Trust's platinum holdings, giving investors direct exposure to the platinum spot price without buying, storing, or insuring physical metal directly. The Trust is designed to make platinum accessible through a standard brokerage account, removing the practical obstacles of assaying, vaulting, and minimum lot sizes associated with direct physical ownership. The Trust charges a Sponsor's Fee of 0.50% of NAV annually, accrued daily and paid monthly by gradually selling small amounts of platinum from the Trust, which slowly reduces the amount of platinum each share represents over time. This fee covers all ordinary expenses, including Trustee, Custodian, listing, registration, and audit costs. The Trust generates no income and pays no dividends — shareholders can only profit from platinum price appreciation. Shares are created and redeemed in blocks of 50,000 shares (called Baskets) exclusively through Authorized Participants, including J.P. Morgan Securities, Merrill Lynch Professional Clearing, Morgan Stanley, and Virtu Americas, while retail investors buy and sell shares on the secondary market. This mechanism keeps the share price closely aligned with platinum's NAV through arbitrage.