Quarterly report [Sections 13 or 15(d)]



>






0001483386


false


2021


Q3


--12-31


Unlimited


Unlimited






















































0001483386




2021-01-01


2021-09-30






0001483386




2021-11-03






0001483386




2021-09-30






0001483386




2020-12-31






0001483386



currency:XAU





2021-09-30






0001483386



currency:XAU





2020-12-31






0001483386



currency:XPD





2021-09-30






0001483386



currency:XPD





2020-12-31






0001483386



currency:XPT





2021-09-30






0001483386



currency:XPT





2020-12-31






0001483386



currency:XAG





2021-09-30






0001483386



currency:XAG





2020-12-31






0001483386




2020-01-01


2020-12-31






0001483386




2021-07-01


2021-09-30






0001483386




2020-07-01


2020-09-30






0001483386




2020-01-01


2020-09-30






0001483386




2021-06-30






0001483386




2020-06-30






0001483386




2020-09-30






0001483386




2019-12-31






0001483386



us-gaap:FairValueInputsLevel1Member





2021-09-30






0001483386



us-gaap:FairValueInputsLevel1Member





2020-12-31






0001483386



currency:XAU





2021-06-30






0001483386



currency:XPD





2021-06-30






0001483386



currency:XPT





2021-06-30






0001483386



currency:XAG





2021-06-30






0001483386



currency:XAU





2021-07-01


2021-09-30






0001483386



currency:XPD





2021-07-01


2021-09-30






0001483386



currency:XPT





2021-07-01


2021-09-30






0001483386



currency:XAG





2021-07-01


2021-09-30






0001483386



currency:XAU





2020-06-30






0001483386



currency:XPD





2020-06-30






0001483386



currency:XPT





2020-06-30






0001483386



currency:XAG





2020-06-30






0001483386



currency:XAU





2020-07-01


2020-09-30






0001483386



currency:XPD





2020-07-01


2020-09-30






0001483386



currency:XPT





2020-07-01


2020-09-30






0001483386



currency:XAG





2020-07-01


2020-09-30






0001483386



currency:XAU





2020-09-30






0001483386



currency:XPD





2020-09-30






0001483386



currency:XPT





2020-09-30






0001483386



currency:XAG





2020-09-30






0001483386



currency:XAU





2021-01-01


2021-09-30






0001483386



currency:XPD





2021-01-01


2021-09-30






0001483386



currency:XPT





2021-01-01


2021-09-30






0001483386



currency:XAG





2021-01-01


2021-09-30






0001483386



currency:XAU





2019-12-31






0001483386



currency:XPD





2019-12-31






0001483386



currency:XPT





2019-12-31






0001483386



currency:XAG





2019-12-31






0001483386



currency:XAU





2020-01-01


2020-09-30






0001483386



currency:XPD





2020-01-01


2020-09-30






0001483386



currency:XPT





2020-01-01


2020-09-30






0001483386



currency:XAG





2020-01-01


2020-09-30





iso4217:USD




xbrli:shares






iso4217:USD




xbrli:shares






utr:oz




xbrli:pure

















































UNITED STATES SECURITIES AND EXCHANGE COMMISSION








Washington, D.C. 20549










Form


10-Q




























QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934







For
the Quarterly Period Ended


September 30, 2021









or


























TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934






For
the Transition Period  from


to











Commission File Number:




001-34917





















ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST







(Exact name of registrant as specified in its charter)





















New York














27-2780046









(State or other jurisdiction of incorporation or






organization)










(I.R.S. Employer Identification No.)





















c/o Aberdeen Standard Investments ETFs Sponsor LLC














712
Fifth Avenue




,


49

th

Floor









New York


,


NY








(Address of principal executive offices)












10019








(Zip Code)









(


844


)


383-7289








(Registrant’s telephone number, including area code)






Securities registered pursuant to Section 12(b) of the Act:























Title of each class










Trading Symbol(s)










Name of each


exchange on which


registered







Aberdeen Standard Physical Precious Metals Basket Shares ETF










GLTR










NYSE Arca







Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.


Yes


☒   No ☐





Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).


Yes


☒   No ☐





Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.






























Large Accelerated Filer












Accelerated Filer








Non-Accelerated Filer











Smaller Reporting Company





















Emerging Growth Company














If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐





Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.). ☐ Yes  ☒


No






As of November 3, 2021, Aberdeen Standard
Precious Metals Basket ETF Trust had


11,000,000


Aberdeen Standard Physical Precious Metals Basket Shares ETF outstanding.

























ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST








FORM 10-Q








FOR THE


QUARTER


ENDED


SEPTEMBER 30, 2021








INDEX
















































































































































PART I. FINANCIAL INFORMATION







































Item 1.









Financial Statements








1





























Item 2.









Management’s Discussion and Analysis of Financial Condition and Results of Operations








13





























Item 3.









Quantitative and Qualitative Disclosures About Market Risk








15





























Item 4.









Controls and Procedures








15





























PART II. OTHER INFORMATION





































Item 1.









Legal Proceedings








16





























Item 1A.









Risk Factors








16





























Item 2.









Unregistered Sales of Equity Securities and Use of Proceeds








16





























Item 3.









Defaults Upon Senior Securities








16





























Item 4.









Mine Safety Disclosures








16





























Item 5.









Other Information








16





























Item 6.









Exhibits








17





























SIGNATURES















18

















ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST










PART I. FINANCIAL INFORMATION










Item 1. Financial Statements






Statements of Assets and Liabilities


At September 30, 2021 (Unaudited) and December 31, 2020



























































































































































































September 30, 2021













December 31, 2020










(Amounts in 000’s of US$, except for Share and per Share data)

























ASSETS





























Gold (cost: September 30, 2021: $


482,802


; December 31, 2020: $


342,738


)







$





543,637










$





450,257







Palladium (cost: September 30, 2021: $


106,024


; December 31, 2020: $


63,094


)











118,472














111,729







Platinum (cost: September 30, 2021: $


43,068


; December 31, 2020: $


31,656


)











40,052














33,967







Silver (cost: September 30, 2021: $


241,054


; December 31, 2020: $


165,638


)











246,193














231,645







Total investment in Bullion











948,354














827,598







Bullion receivable


























14,684







Total assets











948,354














842,282








































LIABILITIES





























Fees payable to Sponsor











472














414







Total liabilities











472














414



































NET ASSETS

(1)








$





947,882










$





841,868















(1)





Authorized share capital is




unlimited




with




no




par value per Share. Shares issued and outstanding at September 30, 2021 were




11,100,000




and at December 31, 2020 were




8,600,000




. Net asset values per Share at September 30, 2021 and December 31, 2020 were $


85.39


and $


97.89


, respectively.










See Notes to the Financial Statements











1













ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST






Schedules of Investments



At September 30, 2021 (Unaudited) and December 31, 2020




















































































































































































September 30, 2021










Description










oz













Cost













Fair Value













% of Net Assets










Investment in Bullion



(in 000’s of US$, except for oz and percentage data)

















































Gold








311,932.9










$





482,802










$





543,637














57.35




%




Palladium








62,386.6














106,024














118,472














12.50




%




Platinum








41,591.1














43,068














40,052














4.23




%




Silver








11,437,540.1














241,054














246,193














25.97




%






Total
investment in Bullion












11,853,450.7
















$






872,948
















$






948,354






















100.05






%




Less liabilities































(

472




)










(

0.05




)%






Net Assets





























$





947,882














100.00




%


















































































































































































December 31, 2020










Description










oz













Cost













Fair Value













% of Net Assets










Investment in Bullion



(in 000’s of US$, except for oz and percentage data)








































Gold








238,534.2










$





342,738










$





450,257














53.48




%




Palladium








47,706.9














63,094














111,729














13.27




%




Platinum








31,804.5














31,656














33,967














4.03




%




Silver








8,746,254.5














165,638














231,645














27.52




%






Total
investment in Bullion












9,064,300.1
















$






603,126
















$






827,598






















98.30






%




Other assets less liabilities
































14,270














1.70




%






Net Assets





























$





841,868














100.00




%










See Notes to the Financial Statements











2











ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST






Statements of Operations (Unaudited)



For the three and nine months ended September 30, 2021 and 2020




































































































































































































































































































































































































Three Months Ended


September 30, 2021













Three Months Ended


September 30, 2020












Nine Months
Ended




September 30, 2021











Nine Months
Ended




September 30, 2020









(Amounts in 000’s of US$, except for Share and per Share data)














































EXPENSES





















































Sponsor’s Fee







$





1,574










$





1,035










$





4,334










$





2,634







Total expenses











1,574














1,035














4,334














2,634


























































Net investment loss










(

1,574




)










(

1,035




)










(

4,334




)










(

2,634




)























REALIZED AND UNREALIZED GAINS / (LOSSES)





















































Realized gain on Bullion transferred to pay expenses











295














243














912














522







Realized gain on Bullion distributed for the redemption of Shares











4,716





























13,411














4,680







Change in unrealized (loss) / gain on investment in Bullion










(

116,045




)











77,619













(

149,066




)











110,356







Change in unrealized (loss) on unsettled creations or redemptions








































(

28




)



















Total (loss)/gain on investment in Bullion










(

111,034




)











77,862













(

134,771




)











115,558


























































Change in net assets from operations







$




(

112,608




)







$





76,827










$




(

139,105




)







$





112,924
































































Net increase / (decrease) in net assets per Share








$




(

10.07




)







$





10.50










$




(

13.74




)







$





16.29


























Weighted average number of Shares












11,183,696














7,319,022














10,123,626














6,933,942













See Notes to the Financial Statements











3













ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST






Statements of Changes in Net Assets (Unaudited)



For the three and nine months ended September 30, 2021 and 2020
































































































































































Three Months Ended


September 30, 2021













Three Months Ended


September 30, 2020










(Amounts in 000’s of US$, except for Share data)










Shares
















Amount













Shares
















Amount








Opening balance








10,700,000










$





1,020,526











6,750,000










$





556,261







Net investment loss



















(

1,574




)



















(

1,035




)




Realized gain on investment in Bullion




















5,011























243







Change in unrealized (loss)/gain on investment in Bullion



















(

116,045




)




















77,619







Creations








750,000














72,203











1,200,000














117,611







Redemptions







(

350,000




)










(

32,239




)































Closing balance








11,100,000










$





947,882











7,950,000










$





750,699





















































































































































































Nine Months Ended


September 30, 2021













Nine Months Ended


September 30, 2020










(Amounts in 000’s of US$, except for Share data)










Shares
















Amount













Shares
















Amount









Opening balance









8,600,000












$






841,868













6,550,000












$






499,078









Net investment loss




















(

4,334






)




















(

2,634






)





Realized gain on investment in Bullion





















14,323

























5,202









Change in unrealized (loss)/gain on investment in Bullion




















(

149,066






)





















110,356









Change in unrealized (loss) on unsettled creations or redemptions




















(

28






)































Creations









3,250,000
















315,511













1,950,000
















179,000









Redemptions








(

750,000






)











(

70,392






)








(

550,000






)











(

40,303






)





Closing balance









11,100,000












$






947,882













7,950,000












$






750,699














See Notes to the Financial Statements











4













ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST






Financial Highlights (Unaudited)



For the three and nine months ended September 30, 2021 and 2020

































































































































































































































































































































































Three Months Ended


September 30, 2021













Three Months Ended


September 30, 2020













Nine Months Ended


September 30, 2021













Nine Months Ended


September 30, 2020










Per Share Performance (for a Share outstanding throughout the entire period)






















































Net asset value per Share at beginning of period








$






95.38












$






82.41












$






97.89












$






76.20










Income from investment operations:






















































Net investment loss











(

0.14






)











(

0.14






)











(

0.43






)











(

0.38






)





Total realized and unrealized gains or losses on investment in Bullion











(

9.85






)












12.16















(

12.07






)












18.61









Change in net assets from operations











(

9.99






)












12.02















(

12.50






)












18.23






























































Net asset value per Share at end of period








$






85.39












$






94.43












$






85.39












$






94.43

































































Weighted average number of Shares













11,183,696
















7,319,022
















10,123,626
















6,933,942
































































Expense ratio

(1)















0.60






%












0.60






%












0.60






%












0.60






%




























































Net investment loss ratio

(1)














(

0.60






)%











(

0.60






)%











(

0.60






)%











(

0.60






)%




























































Total return, net asset value

(2)














(

10.47






)%












14.59






%











(

12.77






)%












23.92






%



































































(1)





Annualized for periods less than one year.




(2)





Total return is not annualized.










See Notes to the Financial Statements













5













ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST






Notes to the Financial Statements (Unaudited)








1.

Organization







The Aberdeen Standard Precious Metals Basket ETF Trust (the “Trust”) is a common law trust formed on October 18, 2010 under New York law pursuant to a depositary trust agreement (the “Trust Agreement”) executed by Aberdeen Standard Investments ETFs Sponsor LLC (the “Sponsor”) and The Bank of New York Mellon as Trustee (the “Trustee”). The Trust holds gold, palladium, platinum and silver in set ratios such that for every


0.03


ounces of gold it holds


1.1


ounces of silver,


0.004


ounces of platinum and


0.006


ounces of palladium (together, “Bullion”). The Trust issues Aberdeen Standard Physical Precious Metals Basket Shares ETF (“Shares”) in minimum blocks of


50,000


Shares (also referred to as “Baskets”) in exchange for deposits of Bullion and distributes Bullion in connection with the redemption of Baskets. Shares represent units of fractional undivided beneficial interest in and ownership of the Trust which are issued by the Trust. The Sponsor is a Delaware limited liability company and a wholly-owned subsidiary of Aberdeen Standard Investments Inc. (“ASII”). ASII is a wholly-owned indirect subsidiary of abrdn (formerly known as Standard Life Aberdeen) plc. The Trust is governed by the Trust Agreement.





Effective June 25, 2021, Christopher Demetriou resigned as President and Chief Executive Officer of the Sponsor. Mr. Demetriou had served as Principal Executive Officer of the Registrant. Effective June 25, 2021, Steven Dunn was appointed President and Chief Executive Officer of the Sponsor. Mr. Dunn will serve as Principal Executive Officer of the Registrant.





The investment objective of the Trust is for the Shares to reflect the performance of the price of gold, silver, platinum and palladium, less the Trust’s expenses and liabilities. The Trust is designed to provide an individual owner of beneficial interests in the Shares (a “Shareholder”) an opportunity to participate in the gold, silver, platinum and palladium markets through an investment in securities. The fiscal year end for the Trust is December 31.





The accompanying financial statements were prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions for Form 10-Q. In the opinion of the Trust’s management, all adjustments (which consist of normal recurring adjustments) necessary to present fairly the financial position and results of operations as of and for the nine months ended September 30, 2021 and for all periods presented have been made.





These financial statements should be read in conjunction with the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the operating results for the full year.









2.

Significant Accounting Policies







The preparation of financial statements in accordance with U.S. GAAP requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Trust.










2.1.

Basis of Accounting









The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946,

Financial Services—Investment Companies

, and has concluded that for reporting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act.














6

















ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST










Notes to the Financial Statements (Unaudited)













2.2.

Valuation of Bullion









The Trust follows the provisions of ASC 820,

Fair Value Measurement

(“ASC 820”). ASC 820 provides guidance for determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.





The Trust’s Bullion is held by JPMorgan Chase Bank, N.A. (the “Custodian”), on behalf of the Trust, at its London, England vaulting premises on a segregated basis. The Trust’s allocated Bullion may also be held by UBS AG, or any other firm selected by the Custodian to hold the Trust’s Bullion in the Trust’s allocated account in the firm’s vault premises on a segregated basis and whose appointment has been approved by the Sponsor. At September 30, 2021, approximately


0.82


% of the Trust’s palladium,


0.82


% of the Trust’s platinum and


26.14


% of the Trust’s silver was held by one or more sub-custodians. At September 30, 2021


none


of the Trust’s gold was held by a sub-custodian.





The Trust’s Bullion is recorded, per individual metal type, at fair value. The cost of Bullion is determined according to the average cost method and the fair value is based on the relevant “London Metal Price” for each metal held by the Trust. This is the applicable “London Bullion Market Association (“LBMA”) PM Gold Price” for the price of an ounce of gold, the “LBMA Silver Price” for silver, and for platinum and palladium the applicable “London Metal Exchange (“LME”) PM Price”.





Realized gains and losses on transfers of Bullion, or Bullion distributed for the redemption of Shares, are calculated on a trade date basis as the difference between the fair value and average cost of Bullion transferred.





The LBMA PM Gold Price is set using the afternoon session of the ICE Benchmark Administration (“IBA”) equilibrium auction, an electronic, tradable and auditable over-the-counter auction market with the ability to settle trades in US Dollars, Euros or British Pounds for LBMA authorized participating gold bullion banks or market makers that establishes a reference gold price for that day’s trading. The “London Metal Price” for gold held by the Trust is the LBMA PM Gold Price.





The IBA conducts an electronic, over-the-counter silver auction in London, England to establish a fixing price for an ounce of silver once each trading day, which is disseminated by major market vendors (the “LBMA Silver Price”). The LBMA Silver Price is established by the nine LBMA authorized bullion banks and market makers participating in the auction and disseminated by major market vendors. The “London Metal Price” for silver held by the Trust is the LBMA Silver Price.





The LME is responsible for the administration of the electronic platinum and palladium bullion price fixing system (“LMEbullion”) as well as providing electronic market clearing processes for platinum and palladium bullion transactions at the fixed prices established by the LME pricing mechanism. LMEbullion establishes and publishes fixed prices for troy ounces of platinum and palladium twice each London trading day during fixing sessions beginning at 9:45 a.m. London time (the “LME AM Fix”) and 2:00 p.m. London time (the “LME PM Fix”). The “London Metal Price” for platinum and palladium held by the Trust is the LME PM Fix.





Once the value of Bullion has been determined, the net asset value (the “NAV”) is computed by the Trustee by deducting all accrued fees, expenses and other liabilities of the Trust, including the remuneration due to the Sponsor (the “Sponsor’s Fee”), from the fair value of the Bullion and all other assets held by the Trust.





The Trust recognizes changes in fair value of the investment in Bullion as changes in unrealized gains or losses on investment in Bullion through the Statement of Operations.





The per Share amount of Bullion exchanged for a purchase or redemption is calculated daily by the Trustee using the London Metal Price for each metal held by the Trust to calculate the Bullion amount in respect of any liabilities for which covering Bullion sales have not yet been made, and represents the per Share amount of Bullion held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred.













7
















ABERDEEN STANDARD PRECIOUS METALS BASKET
ETF TRUST









Notes to the Financial Statements (Unaudited)









Fair Value Hierarchy





ASC 820 establishes a hierarchy that prioritizes inputs to valuation
techniques used to measure fair value. The three levels of inputs are as follows:





– Level 1. Unadjusted quoted prices
in active markets for identical assets or liabilities that the Trust has the ability to access.





– Level 2. Observable inputs other
than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument
on an inactive market, prices for similar instruments and similar data.





– Level 3. Unobservable inputs for
the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s own assumptions
about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best
information available.





To the extent that valuation is based on models or inputs that
are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree
of judgment exercised in determining fair value is greatest for instruments categorized in level 3.





The inputs used to measure fair value may fall into different
levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which
the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair
value measurement in its entirety.





The Trust’s investment in Bullion is classified as
a level 1 asset, as its value is calculated using unadjusted quoted prices from primary market sources.






The categorization of the Trust’s assets is as shown below:














































(Amounts in 000’s of US$)


September 30,


2021



December 31,


2020









Level 1









Investment in Bullion


$


948,354




$


827,598








There were
no transfers between levels during the nine months ended September 30, 2021.









2.3.

Bullion Receivable and Payable







Bullion receivable or payable represents the quantity of Bullion
covered by contractually binding orders for the creation or redemption of Shares respectively, where the Bullion has not yet
been transferred to or from the Trust’s account. Generally, ownership of Bullion is transferred within two business days
of the trade date. At September 30, 2021, the Trust had




no




Bullion receivable or payable for the creation or redemption
of Shares. At December 31, 2020, the Trust had $


14,683,986


of Bullion receivable for the creation of Shares and


no


Bullion payable for the redemption of Shares.










8
















ABERDEEN STANDARD PRECIOUS METALS BASKET
ETF TRUST









Notes to the Financial Statements (Unaudited)











2.4.

Creations and Redemptions
of Shares







The Trust expects to create and redeem Shares from time to time,
but only in one or more Baskets (a Basket equals a block of


50,000


Shares). The Trust issues Shares in Baskets to Authorized
Participants on an ongoing basis. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust.
An Authorized Participant is a person who (1) is a registered broker-dealer or other securities market participant such as a bank
or other financial institution which is not required to register as a broker-dealer to engage in securities transactions; (2) is
a participant in The Depository Trust Company; (3) has entered into an Authorized Participant Agreement with the Trustee and the
Sponsor; and (4) has established an Authorized Participant Unallocated Account with the Trust’s Custodian or other Bullion
clearing bank. An Authorized Participant Agreement is an agreement entered into by each Authorized Participant, the Sponsor and
the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the Bullion required
for such creations and redemptions. An Authorized Participant Unallocated Account is an unallocated Bullion account, either
loco London or loco Zurich, established with the Custodian or a Bullion clearing bank by an Authorized Participant.





The creation and redemption of Baskets is only made in exchange
for the delivery to the Trust or the distribution by the Trust of the amount of Bullion represented by the Baskets being created
or redeemed, the amount of which is based on the combined NAV of the number of Shares included in the Baskets being created or
redeemed determined on the day the order to create or redeem Baskets is properly received.





Authorized Participants may, on any business day, place an order
with the Trustee to create or redeem one or more Baskets. The typical settlement period for Shares is two business days. In the
event of a trade date at period end, where a settlement is pending, a respective account receivable and/or payable will be recorded.
When Bullion is exchanged in settlement of a redemption, it is considered a sale of Bullion for financial statement purposes.





The amount of Bullion represented by the Baskets created
or redeemed can only be settled to the nearest 1/1000th of an ounce. As a result, the value attributed to the creation or redemption
of Shares may differ from the value of Bullion to be delivered or distributed by the Trust. In order to ensure that the
correct amount of Bullion is available at all times to back the Shares, the Sponsor accepts an adjustment to its management
fees in the event of any shortfall or excess on each transaction. For each transaction, this amount is not more than 1/1000th of
an ounce of Bullion.





As the Shares of the Trust are subject to redemption at the
option of Authorized Participants, the Trust has classified the outstanding Shares as Net Assets. Changes in the number of Shares
outstanding are presented in the Statement of Changes in Net Assets.









2.5.

Income Taxes







The Trust is classified as a “grantor trust” for
U.S. federal income tax purposes. As a result, the Trust itself will not be subject to U.S. federal income tax. Instead, the Trust’s
income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds,
income, deductions, gains, and losses to the Internal Revenue Service on that basis.





The Sponsor has evaluated whether or not there are uncertain
tax positions that require financial statement recognition and has determined that




no




reserves for uncertain tax positions are
required as of September 30, 2021 or December 31, 2020.










9
















ABERDEEN STANDARD PRECIOUS METALS BASKET
ETF TRUST









Notes to the Financial Statements (Unaudited)











2.6.

Investment in Bullion








Changes in ounces of Bullion and their respective values
for the three and nine months ended September 30, 2021 and 2020 are set out below:
















































































































































































































































































































































































































































Three Months Ended September 30, 2021


(Amounts in 000’s of US$, except for ounces data)







Ounces of Bullion


Gold



Palladium



Platinum



Silver



Total


Opening balance




299,737.5






59,947.5






39,965.0






10,990,374.3






11,390,024.3



Creations




22,497.2






4,499.4






2,999.6






824,898.7






854,894.9



Redemptions



(

9,835.0


)



(

1,967.0


)



(

1,311.0


)



(

360,618.1


)



(

373,731.1


)

Transfers of Bullion to pay expenses



(

466.8


)



(

93.3


)



(

62.5


)



(

17,114.8


)



(

17,737.4


)

Closing balance




311,932.9






62,386.6






41,591.1






11,437,540.1






11,853,450.7
























Investment in Bullion





















Opening balance


$


528,482




$


162,278




$


42,323




$


283,167




$


1,016,250



Creations




40,431






12,245






3,225






21,071






76,972



Redemptions



(

17,506


)



(

4,702


)



(

1,309


)



(

8,722


)



(

32,239


)

Realized gain / (loss) on Bullion distributed for the redemption of Shares




2,283






1,359





(

48


)




1,122






4,716



Transfers of Bullion to pay expenses



(

835


)



(

255


)



(

66


)



(

439


)



(

1,595


)

Realized gain on Bullion transferred to pay expenses




116






98






1






80






295



Change in unrealized loss on investment in Bullion



(

9,334


)



(

52,551


)



(

4,074


)



(

50,086


)



(

116,045


)

Closing balance


$


543,637




$


118,472




$


40,052




$


246,193




$


948,354

















































































































































































































































































































































































































































Three Months Ended September 30, 2020


(Amounts in 000’s of US$, except for ounces data)







Ounces of Bullion


Gold



Palladium



Platinum



Silver



Total


Opening balance




191,121.1






38,224.2






25,482.8






7,007,773.9






7,262,602.0



Creations




33,932.8






6,786.6






4,524.4






1,244,201.6






1,289,445.4



Redemptions




































Transfers of Bullion to pay expenses



(

298.3


)



(

59.7


)



(

39.8


)



(

10,937.3


)



(

11,335.1


)

Closing balance




224,755.6






44,951.1






29,967.4






8,241,038.2






8,540,712.3
























Investment in Bullion





















Opening balance


$


337,921




$


72,817




$


20,743




$


125,054




$


556,535



Creations




66,062






14,741






4,190






32,618






117,611



Redemptions




































Realized gain on Bullion distributed for the redemption of Shares




































Transfers of Bullion to pay expenses



(

550


)



(

119


)



(

34


)



(

243


)



(

946


)

Realized gain / (loss) on Bullion transferred to pay expenses




149






50





(

6


)




50






243



Change in unrealized gain on investment in Bullion




20,509






17,472






1,598






38,040






77,619



Closing balance


$


424,091




$


104,961




$


26,491




$


195,519




$


751,062










10





















































































































































































































































































































































































































































Nine Months Ended September 30, 2021


(Amounts in 000’s of US$, except for ounces data)







Ounces of Bullion


Gold



Palladium



Platinum



Silver



Total


Opening balance




238,534.2






47,706.9






31,804.5






8,746,254.5






9,064,300.1



Creations




95,761.6






19,152.2






12,768.2






3,511,259.8






3,638,941.8



Redemptions



(

21,117.4


)



(

4,223.5


)



(

2,815.3


)



(

774,305.3


)



(

802,461.5


)

Transfers of Bullion to pay expenses



(

1,245.5


)



(

249.0


)



(

166.3


)



(

45,668.9


)



(

47,329.7


)

Closing balance




311,932.9






62,386.6






41,591.1






11,437,540.1






11,853,450.7
























Investment in Bullion





















Opening balance


$


450,257




$


111,729




$


33,967




$


231,645




$


827,598



Creations




173,811






49,868






14,449






92,038






330,166



Redemptions



(

38,206


)



(

10,050


)



(

2,950


)



(

19,186


)



(

70,392


)

Realized gain on Bullion distributed for the redemption of Shares




6,338






3,498






83






3,492






13,411



Transfers of Bullion to pay expenses



(

2,247


)



(

648


)



(

186


)



(

1,194


)



(

4,275


)

Realized gain on Bullion transferred to pay expenses




368






262






17






265






912



Change in unrealized loss on investment in Bullion



(

46,684


)



(

36,187


)



(

5,328


)



(

60,867


)



(

149,066


)

Closing balance


$


543,637




$


118,472




$


40,052




$


246,193




$


948,354












































































































































































































































































































































































































































Nine Months Ended September 30, 2020


(Amounts in 000’s of US$, except for ounces data)




Ounces of Bullion


Gold



Palladium



Platinum



Silver



Total


Opening balance




183,176.5






36,635.0






24,423.3






6,716,468.5






6,960,703.3



Creations




58,037.9






11,607.9






7,738.4






2,128,055.4






2,205,439.6



Redemptions



(

15,590.6


)



(

3,118.1


)



(

2,078.7


)



(

571,654.6


)



(

592,442.0


)

Transfers of Bullion to pay expenses



(

868.2


)



(

173.7


)



(

115.6


)



(

31,831.1


)



(

32,988.6


)

Closing balance




224,755.6






44,951.1






29,967.4






8,241,038.2






8,540,712.3
























Investment in Bullion





















Opening balance


$


277,466




$


69,790




$


23,251




$


121,199




$


491,706



Creations




105,062






26,262






7,130






48,165






186,619



Redemptions



(

24,805


)



(

5,947


)



(

1,498


)



(

8,053


)



(

40,303


)

Realized gain / (loss) on Bullion distributed for the redemption of Shares




4,473






2,608





(

612


)



(

1,789


)




4,680



Transfers of Bullion to pay expenses



(

1,470


)



(

376


)



(

96


)



(

576


)



(

2,518


)

Realized gain / (loss) on Bullion transferred to pay expenses




330






190





(

22


)




24






522



Change in unrealized gain on investment in Bullion




63,035






12,434





(

1,662


)




36,549






110,356



Closing balance


$


424,091




$


104,961




$


26,491




$


195,519




$


751,062




















2.7.






Expenses / Realized Gains / Losses







The primary expense of the Trust is the Sponsor’s Fee, which is paid by the Trust through in-kind transfers of Bullion to
the Sponsor.





The Trust will transfer Bullion to the Sponsor to pay the
Sponsor’s Fee that accrues daily at an annualized rate equal to


0.60


% of the adjusted daily net asset value (“ANAV”)
of the Trust, paid monthly in arrears.





The Sponsor has agreed to assume administrative and marketing
expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee
and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission
(the “SEC”) registration fees, printing and mailing costs, audit fees and up to $


100,000


per annum in legal expenses.





For the three months ended September 30, 2021 and
2020, the Sponsor’s Fee was $


1,574,298


and $


1,034,546


, respectively.  For the nine months ended September
30, 2021 and 2020, the Sponsor’s Fee was $


4,333,565


and $


2,633,917


, respectively.





At September 30, 2021 and at December 31, 2020, the
fees payable to the Sponsor were $


472,351


and $


414,184


, respectively.





With respect to expenses not otherwise assumed by the Sponsor,
the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s Bullion as necessary to pay
these expenses. When selling Bullion to pay expenses, the Trustee will endeavor to sell the smallest amounts of Bullion
needed to pay these expenses in order to minimize the Trust’s holdings of assets other than Bullion. Other than the
Sponsor’s Fee, the Trust had








no








expenses during the three and nine months ended September 30, 2021 and 2020.





Unless otherwise directed by the Sponsor, when selling Bullion
the Trustee will endeavor to sell at the price established by the London Metal Price for each metal held by the Trust. The Trustee
will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable
price and execution of orders. The Custodian may be the purchaser of such Bullion only if the sale transaction is made at
the London Metal Price for each metal held by the Trust used by the Trustee to value the Trust’s Bullion. A gain or loss
is recognized based on the difference between the selling price and the average cost of the Bullion sold. Neither the Trustee
nor the Sponsor is liable for depreciation or loss incurred by reason of any sale.





Realized gains and losses result from the transfer of Bullion
for Share redemptions and / or to pay expenses and are recognized on a trade date basis as the difference between the fair value
and average cost of Bullion transferred.
















2.8.






Subsequent Events







In accordance with the provisions set forth in FASB ASC 855-10,

Subsequent Events

, the Trust’s management has evaluated the possibility of subsequent events impacting the Trust’s
financial statements through the filing date. During this period, no material subsequent events requiring adjustment to or disclosure
in the financial statements were identified.












11













ABERDEEN
STANDARD PRECIOUS METALS BASKET ETF TRUST









Notes
to the Financial Statements (Unaudited)












3.

Related
Parties










The
Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee and the Custodian and their affiliates
may from time to time act as Authorized Participants and purchase or sell Shares for their own account, as agent for their customers
and for accounts over which they exercise investment discretion. In addition, the Trustee and the Custodian and their affiliates
may from time to time purchase or sell Bullion directly, for their own account, as agent for their customers and for accounts
over which they exercise investment discretion. The Trustee’s and Custodian’s fees are paid by the Sponsor and are
not separate expenses of the Trust.











4.

Concentration
of Risk










The
Trust’s sole business activity is the investment in Bullion, and substantially all the Trust’s assets are holdings
of Bullion, which creates a concentration of risk associated with fluctuations in the price of Bullion. Several factors could
affect the price of Bullion, including: (i) global Bullion supply and demand, which is influenced by factors such as general changes
in economic conditions, such as a recession or other economic downturn, recycling, autocatalyst demand, industrial demand, jewelry
demand and investment demand, central bank purchases and sales, and production and cost levels in major Bullion-producing countries;
(ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates;
(v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial
events and situations. In addition, there is no assurance that Bullion will maintain its long-term value in terms of purchasing
power in the future. In the event that the price of Bullion declines, the Sponsor expects the value of an investment in the
Shares to decline proportionately. Each of these events could have a material effect on the Trust’s financial position and
results of operations.











5.

Indemnification










Under
the Trust’s organizational documents, the Trustee (and its directors, employees and agents) and the Sponsor (and its members,
managers, directors, officers, employees and affiliates) are indemnified by the Trust against any liability, cost or expense it
incurs without gross negligence, bad faith, willful misconduct or willful malfeasance on its part and without reckless disregard
on its part of its obligations and duties under the Trust’s organizational documents. The Trust’s maximum exposure
under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.











12























Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations






This
information should be read in conjunction with the financial statements and notes to the financial statements included in Item
1 of Part 1 of this Form 10-Q. The discussion and analysis that follows may contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
and within the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements may relate to the
Trust’s financial condition, operations, future performance and business. These statements can be identified by the use
of the words “may”, “should”, “expect”, “plan”, “anticipate”, “believe”,
“estimate”, “predict”, “potential” or similar words and phrases. These statements are based
upon certain assumptions and analyses the Sponsor has made based on its perception of historical trends, current conditions and
expected future developments. Neither the Trust nor the Sponsor is under a duty to update any of the forward-looking statements,
to conform such statements to actual results or to reflect a change in management’s expectations or predictions.











Introduction






The
Trust is a common law trust, formed under the laws of the state of New York on October 18, 2010. The Trust is not managed
like a corporation or an active investment vehicle. It does not have any officers, directors, or employees and is administered
by the Trustee pursuant to the Trust Agreement. The Trust is not registered as an investment company under the Investment Company
Act of 1940 and is not required to register under such act. It does not hold or trade in commodity futures contracts, nor is it
a commodity pool, or subject to regulation as a commodity pool operator or a commodity trading adviser in connection with issuing
Shares.








The
Trust holds Bullion (consisting of gold, silver, platinum, palladium in specified proportions) and is expected to issue Baskets
in exchange for deposits of Bullion and to distribute Bullion in connection with redemptions of Baskets. Shares issued
by the Trust represent units of undivided beneficial interest in and ownership of the Trust. The investment objective of the Trust
is for the Shares to reflect the performance of the price of gold, silver, platinum and palladium in the proportions held
by the Trust, less the Trust’s expenses. The Trust holds Bullion in a ratio such that for every 0.03 ounces of gold it holds
1.1 ounces of silver, 0.004 ounces of platinum and 0.006 ounces of palladium.  The Sponsor believes that, for many investors,
the Shares will represent a cost effective investment relative to traditional means of investing in Bullion.








The
Trust issues and redeems Shares only with Authorized Participants in exchange for Bullion and only in aggregations of 50,000
Shares or integral multiples thereof. A list of current Authorized Participants is available from the Sponsor or the Trustee.








Shares
of the Trust trade on the New York Stock Exchange (the “NYSE”) Arca under the symbol “GLTR”.










Valuation
of Bullion and Computation of Net Asset Value






On
each day that the NYSE Arca is open for regular trading, as promptly as practicable after 4:00 p.m. New York time on such day
(the “Evaluation Time”), the Trustee will evaluate the Bullion held by the Trust and determine both the ANAV
and the NAV of the Trust.








At
the Evaluation Time, the Trustee values the Trust’s Bullion on the basis of that day’s London Metal Price for such
metal or, if no London Metal Price is made for a metal on such day or has not been announced by the Evaluation Time, the next
most recent London Metal Price announced for such metal determined prior to the Evaluation Time will be used, unless the Sponsor
determines that such price is inappropriate as a basis for evaluation. In the event the Sponsor determines that the applicable
London Metal Price or such other publicly available price as the Sponsor may deem fairly represents the commercial value of the
Trust’s Bullion is not an appropriate basis for evaluation of the Trust’s Bullion, it shall identify an alternative
basis for such evaluation to be employed by the Trustee. Neither the Trustee nor the Sponsor shall be liable to any person for
the determination that the London Metal Price or such other publicly available price is not appropriate as a basis for evaluation
of the Trust’s Bullion or for any determination as to the alternative basis for such evaluation provided that such determination
is made in good faith.








Once
the value of the Bullion has been determined, the Trustee subtracts all estimated accrued but unpaid fees (other than the
fees accruing for such day on which the valuation takes place that are computed by reference to the value of the Trust or its
assets), expenses and other liabilities of the Trust from the total value of the Bullion and all other assets of the Trust
(other than any amounts credited to the Trust’s reserve account, if established). The resulting figure is the adjusted net
asset value (the “ANAV”) of the Trust. The ANAV of the Trust is used to compute the Sponsor’s Fee.










13


















All
fees accruing for the day on which the valuation takes place that are computed by reference to the value of the Trust or its assets
are calculated using the ANAV calculated for such day. The Trustee subtracts from the ANAV the amount of accrued fees so computed
for such day and the resulting figure is the NAV of the Trust. The Trustee also determines the NAV per Share by dividing the NAV
of the Trust by the number of the Shares outstanding as of the close of trading on the NYSE Arca (which includes the net number
of any Shares created or redeemed on such evaluation day).








The
Trustee’s estimation of accrued but unpaid fees, expenses and liabilities is conclusive upon all persons interested in the
Trust and no revision or correction in any computation made under the Trust Agreement will be required by reason of any difference
in amounts estimated from those actually paid.








The
NAV of the Trust is obtained by subtracting the Trust’s liabilities on any day from the value of the Bullion owned and receivable
by the Trust on that day; the NAV per Share is obtained by dividing the NAV of the Trust on a given day by the number of Shares
outstanding on that day.










The
Quarter Ended






September 30, 2021










The
Trust’s NAV decreased from $1,020,525,545 at June 30, 2021 to $947,881,649 at September 30, 2021, a 7.12% decrease for the
quarter. The decrease in the Trust’s NAV resulted primarily from


a
decrease in


the price per ounce
of gold, silver, platinum and palladium in the proportions held by the Trust (the “Proportionate Price”), which fell
10.32% from $101.71 at June 30, 2021 to $91.21 at September 30, 2021. There was an increase in


outstanding
Shares, which rose from 10,700,000 Shares at June 30, 2021 to 11,100,000 Shares at September 30, 2021, as a result of 750,000
Shares (15 Baskets) being created and 350,000 Shares (7 Baskets) being redeemed.








The
NAV per Share decreased 10.47% from $95.38 at June 30, 2021 to $85.39 at September 30, 2021. The Trust’s NAV per Share fell
slightly more than Proportionate Price on a percentage basis due to the Sponsor’s Fee, which was $1,574,298 for the quarter,
or 0.60% of the Trust’s ANAV on an annualized basis.








The
NAV per Share of $98.64 at July 6, 2021 was the highest during the quarter, compared with a low of $85.39 at September 30, 2021.








The
decrease in net assets from operations for the quarter ended September 30, 2021 was $112,608,918, resulting from a realized gain
of $295,224 on the transfer of Bullion to pay expenses and a realized gain of $4,715,560 on Bullion distributed for the redemption
of Shares, offset by a change in unrealized loss on investment in Bullion of $116,045,404 and the Sponsor’s Fee of $1,574,298.
Other than the Sponsor’s Fee, the Trust had no expenses during the quarter ended September 30, 2021.










The
Nine Months Ended






September 30,
2021










The
Trust’s NAV increased from $841,868,238 at December 31, 2020 to $947,881,649 at September 30, 2021, a 12.59% increase for
the period. The increase in the Trust’s NAV resulted primarily from an increase in outstanding Shares, which rose from 8,600,000
Shares at December 31, 2020 to 11,100,000 Shares at September 30, 2021, a result of 3,250,000 Shares (65 Baskets) being created
and 750,000 Shares (15 Baskets) being redeemed during the period. There was a decrease in the Proportionate Price which fell 12.37%
from $104.09 at December 31, 2020 to $91.21 at September 30, 2021.








The
NAV per Share decreased 12.77% from $97.89 at December 31, 2020 to $85.39 at September 30, 2021. The Trust’s NAV per Share
fell slightly more than the Proportionate Price on a percentage basis due to the Sponsor’s Fee, which was $4,333,565 for
the period, or 0.60% of the Trust’s ANAV on an annualized basis.










14


















The NAV per Share of $102.92 at June 1, 2021 was the highest during the period, compared with a low of $85.39 at September 30, 2021.






The decrease in net assets from operations for the period ended September 30, 2021 was $139,104,584, resulting from a realized gain of $912,304 on the transfer of Bullion to pay expenses and a realized gain of $13,410,760 on Bullion distributed for the redemption of Shares, offset by a change in unrealized loss on investment in Bullion of $149,066,150, a change in unrealized loss on unsettled creations of $27,933 and the Sponsor’s Fee of $4,333,565. Other than the Sponsor’s Fee, the Trust had no expenses during the period ended September 30, 2021.









Liquidity & Capital Resources






The Trust is not aware of any trends, demands, commitments, events or uncertainties that are reasonably likely to result in material changes to its liquidity needs. In exchange for the Sponsor’s Fee, the Sponsor has agreed to assume most of the expenses incurred by the Trust. As a result, the only ordinary expense of the Trust during the period covered by this report was the Sponsor’s Fee.





The Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s Bullion, only in the specified proportion of gold, silver, platinum and palladium held by the Trust, as necessary to pay the Trust’s expenses not otherwise assumed by the Sponsor. The Trustee will not sell Bullion to pay the Sponsor’s Fee but will pay the Sponsor’s Fee through in-kind transfers of Bullion to the Sponsor. At September 30, 2021, the Trust did not have any cash balances.









Off-Balance Sheet Arrangements






The Trust has no off-balance sheet arrangements.









Critical Accounting Policies






The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements relies on estimates and assumptions that impact the Trust’s financial position and results of operations. These estimates and assumptions affect the Trust’s application of accounting policies. Refer to Note 2 to the Financial Statements for further information on accounting policies.







Item 3. Quantitative and Qualitative Discl


osures About Market Risk




Not applicable.







Item 4. Controls and Pro


cedures




The Trust maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in its reports under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Chief Executive Officer and Chief Financial Officer of the Sponsor, and to the audit committee, as appropriate, to allow timely decisions regarding required disclosure.





Under the supervision and with the participation of the Chief Executive Officer and the Chief Financial Officer of the Sponsor, the Sponsor conducted an evaluation of the Trust’s disclosure controls and procedures, as defined under Exchange Act Rules 13a-15(e) and 15d-15(e). Based on this evaluation, the Chief Executive Officer and the Chief Financial Officer of the Sponsor concluded that, as of September 30, 2021, the Trust’s disclosure controls and procedures were effective.





There have been no changes in the Trust’s or Sponsor’s internal control over financial reporting during the quarter ended September 30, 2021 that have materially affected, or are reasonably likely to materially affect, the Trust’s or Sponsor’s internal control over financial reporting.








15













PART II. OTHER INF


ORMATION








Item 1. Legal Procee


dings




None.







Item 1A. Risk Fac


tors




Except for the risk factor set forth below, there have been no material changes to the risk factors previously disclosed in the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020.









Effects of COVID-19






The COVID-19 pandemic has caused major disruptions to economies and markets around the world, including the markets in which the Trust
invests, and which has and may continue to negatively impact the value of certain of the Trust’s investments. Although vaccines
for COVID-19 and variants thereof are becoming more widely available, the COVID-19 pandemic and impacts thereof may continue for an extended
period of time and may vary from market to market. To the extent the impacts of COVID-19 continue, the Trust may experience negative impacts
to its business that could exacerbate other risks to which the Trust is subject. Policy and legislative changes in countries around the
world are affecting many aspects of financial regulation, and governmental and quasi-governmental authorities and regulators throughout
the world have previously responded to serious economic disruptions with a variety of significant fiscal and monetary policy changes.








Item 2. Unregistered Sales of Eq


uity Securities and Use of Proceeds








Item 2(a).




None.






Item 2(b).




Not applicable.






Item 2(c).




For the three months ended September 30, 2021:




15 Baskets were created.




7 Baskets were redeemed.











































































Total
Baskets








Total
Shares








Average
ounces of Bullion per Share













Period









Redeemed














Redeemed














Gold







Palladium







Platinum







Silver











July
2021





1










50,000










0.028





0.006





0.004





1.031










August
2021





5










250,000










0.028





0.006





0.004





1.030










September
2021





1










50,000










0.028





0.006





0.004





1.030










7










350,000



















Item 3. Defaults Upon


Senior Securities






None.








Item 4. Mine Safety D


isclosures






Not applicable.










Item 5. Other Information






None.








16
















Item 6. Exhibits






















































31.1





Chief Executive Officer’s Certificate, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.





31.2





Chief Financial Officer’s Certificate, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.





32.1





Chief Executive Officer’s Certificate, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.





32.2





Chief Financial Officer’s Certificate, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.





101





The following financial statements from the Trust’s Quarterly Report on Form 10-Q for the quarter ended

September 30, 2021

, formatted in Inline XBRL: (i) Statements of Assets and Liabilities, (ii) Statements of Operations, (iii) Statements of Changes in Net Assets, and (iv) Notes to the Financial Statements.





101.SCH





Inline XBRL Taxonomy Extension Schema Document





101.CAL





Inline XBRL Taxonomy Extension Calculation Document





101.DEF





Inline XBRL Taxonomy Extension Definitions Document





101.LAB





Inline XBRL Taxonomy Extension Labels Document





101.PRE





Inline XBRL Taxonomy Extension Presentation Document





104





The cover page from the Trust’s Quarterly Report on Form 10-Q for the quarter ended

September 30, 2021

, formatted in Inline XBRL (included as Exhibit 101).









17













ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST








SIGNATUR


ES







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 thereunto duly authorized.





































































ABERDEEN STANDARD INVESTMENTS ETFS SPONSOR LLC











Date: November 5, 2021





/s/ Steven Dunn








Steven Dunn*








President and Chief Executive Officer








(Principal Executive Officer)















Date: November 5, 2021





/s/ Andrea Melia








Andrea Melia*








Chief Financial Officer and Treasurer








(Principal Financial Officer and Principal Accounting Officer)















*





The Registrant is a trust and the persons are signing in their capacities as officers of Aberdeen Standard Investments ETFs Sponsor LLC, the Sponsor of the Registrant.



















18




The above information was disclosed in a filing to the SEC. To see the filing, click here.

To receive a free e-mail notification whenever ETFS Precious Metals Basket Trust makes a similar move, sign up!

Auto Refresh

Feedback