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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


June 30, 2022









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



















abrdn 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 abrdn 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






abrdn 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 August 3, 2022, abrdn Precious Metals Basket ETF Trust had


11,900,000


abrdn Physical Precious Metals Basket Shares ETF outstanding.





































abrdn Precious Metals Basket ETF TRUST






FORM 10-Q








FOR THE QUARTER ENDED JUNE 30, 2022








INDEX




































































































































PART I. FINANCIAL INFORMATION














Item 1.







Financial Statements






1








Item 2.







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






14








Item 3.







Quantitative and Qualitative Disclosures About Market Risk






16








Item 4.







Controls and Procedures






16








PART II. OTHER INFORMATION










Item 1.







Legal Proceedings






17








Item 1A.







Risk Factors






17








Item 2.







Unregistered Sales of Equity Securities and Use of Proceeds






17








Item 3.







Defaults Upon Senior Securities






17








Item 4.







Mine Safety Disclosures






17








Item 5.







Other Information






17








Item 6.







Exhibits






18









SIGNATURES






19






















abrdn Precious Metals Basket ETF Trust










PART I. FINANCIAL INFORMATION










Item 1. Financial Statements







Statements of Assets and Liabilities



At June 30, 2022 (Unaudited) and December 31, 2021











































































































































































June 30, 2022



December 31, 2021


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









ASSETS









Gold (cost: June 30, 2022: $


560,686


; December 31, 2021: $


473,391


)


$


635,401




$


552,324



Palladium (cost: June 30, 2022: $


126,507


; December 31, 2021: $


103,958


)




132,046






120,690



Platinum (cost: June 30, 2022: $


48,238


; December 31, 2021: $


42,229


)




42,290






39,108



Silver (cost: June 30, 2022: $


276,748


; December 31, 2021: $


236,355


)




261,766






258,889



Total investment in Bullion




1,071,503






971,011



Total assets




1,071,503






971,011












LIABILITIES









Fees payable to Sponsor




532






498



Total liabilities




532






498














NET ASSETS

(1)





$


1,070,971




$


970,513












(1)




Authorized share capital is




unlimited




with




no




par value per Share. Shares issued and outstanding at June 30, 2022 were




12,500,000




and at December 31, 2021 were




10,900,000




. Net asset values per Share at June 30, 2022 and December 31, 2021 were $


85.68


and $


89.04


, respectively.








See Notes to the Financial Statements









1












abrdn Precious Metals Basket ETF Trust





Schedules of Investments



At June 30, 2022 (Unaudited) and December 31, 2021





































































































































































June 30, 2022


Description


oz



Cost



Fair Value



% of Net Assets




Investment in Bullion


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



Gold




349,697.7




$


560,686




$


635,401






59.33


%

Palladium




69,939.6






126,507






132,046






12.33


%

Platinum




46,626.4






48,238






42,290






3.95


%

Silver




12,822,252.8






276,748






261,766






24.44


%

Total investment in Bullion




13,288,516.5




$


1,012,179




$


1,071,503






100.05


%

Less liabilities











(

532


)



(

0.05


)%

Net Assets










$


1,070,971






100.00


%




































































































































































December 31, 2021


Description


oz



Cost



Fair Value



% of Net Assets




Investment in Bullion


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



Gold




305,852.8




$


473,391




$


552,324






56.90


%

Palladium




61,170.6






103,958






120,690






12.44


%

Platinum




40,780.4






42,229






39,108






4.03


%

Silver




11,214,604.8






236,355






258,889






26.68


%

Total investment in Bullion




11,622,408.6




$


855,933




$


971,011






100.05


%

Less liabilities











(

498


)



(

0.05


)%

Net Assets










$


970,513






100.00


%








See Notes to the Financial Statements









2












abrdn Precious Metals Basket ETF Trust





Statements of Operations (Unaudited)



For the three and six months ended June 30, 2022 and
2021
































































































































































































































































































































































































Three Months Ended


June 30, 2022



Three Months Ended


June 30, 2021



Six Months Ended


June 30, 2022



Six Months Ended


June 30, 2021


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

















EXPENSES

















Sponsor’s Fee


$


1,704




$


1,474




$


3,244




$


2,759



Total expenses




1,704






1,474






3,244






2,759




















Net investment loss



(

1,704


)



(

1,474


)



(

3,244


)



(

2,759


)


















REALIZED AND UNREALIZED GAINS / (LOSSES)

















Realized gain on Bullion transferred to pay expenses




259






309






453






617



Realized gain on Bullion distributed for the redemption of Shares




1,537













2,077






8,695



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



(

130,957


)




32,504





(

55,754


)



(

33,021


)

Change in unrealized (loss) on unsettled creations or redemptions
























(

28


)

Total (loss)/gain on investment in Bullion



(

129,161


)




32,813





(

53,224


)



(

23,737


)


















Change in net assets from operations


$

(

130,865


)


$


31,339




$

(

56,468


)


$

(

26,496


)


















Net increase / (decrease) in net assets per Share


$

(

10.52


)


$


3.12




$

(

4.78


)


$

(

2.76


)


















Weighted average number of Shares




12,436,264






10,039,560






11,803,039






9,584,807









See
Notes to the Financial Statements










3












abrdn Precious Metals Basket ETF Trust







Statements of Changes in Net Assets (Unaudited)



For the three and six months ended June 30, 2022 and 2021





































































































































































Three Months Ended June 30, 2022



Three Months Ended June 30, 2021


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


Shares



Amount



Shares



Amount


Opening balance




12,100,000




$


1,163,907






9,550,000




$


875,400



Net investment loss







(

1,704


)







(

1,474


)

Realized gain on investment in Bullion








1,796










309



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







(

130,957


)








32,504



Creations




600,000






55,651






1,150,000






113,787



Redemptions



(

200,000


)



(

17,722


)











Closing balance




12,500,000




$


1,070,971






10,700,000




$


1,020,526

























































































































































































Six Months Ended June 30, 2022



Six Months Ended June 30, 2021


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


Shares



Amount



Shares



Amount


Opening balance




10,900,000




$


970,513






8,600,000




$


841,868



Net investment loss







(

3,244


)







(

2,759


)

Realized gain on investment in Bullion








2,530










9,312



Change in unrealized (loss) on investment in Bullion







(

55,754


)







(

33,021


)

Change in unrealized (loss) on unsettled creations or redemptions
















(

28


)

Creations




1,850,000






179,112






2,500,000






243,307



Redemptions



(

250,000


)



(

22,186


)



(

400,000


)



(

38,153


)

Closing balance




12,500,000




$


1,070,971






10,700,000




$


1,020,526












See Notes to the Financial Statements













4












abrdn Precious Metals Basket ETF Trust







Financial Highlights (Unaudited)



For the three and six months ended June 30, 2022 and 2021







































































































































































































































































































































Three Months Ended


June 30, 2022



Three Months Ended


June 30, 2021



Six Months Ended


June 30, 2022



Six Months Ended


June 30, 2021


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

















Net asset value per Share at beginning of period


$


96.19




$


91.66




$


89.04




$


97.89



Income from investment operations:

















Net investment loss



(

0.14


)



(

0.15


)



(

0.27


)



(

0.29


)

Total realized and unrealized gains or losses on investment in Bullion



(

10.37


)




3.87





(

3.09


)



(

2.22


)

Change in net assets from operations



(

10.51


)




3.72





(

3.36


)



(

2.51


)


















Net asset value per Share at end of period


$


85.68




$


95.38




$


85.68




$


95.38




















Weighted average number of Shares




12,436,264






10,039,560






11,803,039






9,584,807























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)







(

10.93


)%




4.06


%



(

3.77


)%



(

2.56


)%














(1)




Annualized for periods less than one year.




(2)




Total return is not annualized.












See Notes to the Financial Statements











5












abrdn Precious Metals Basket ETF Trust





Notes to the Financial Statements (Unaudited)









1.

Organization






The abrdn Precious Metals Basket ETF Trust (known
as Aberdeen Standard Precious Metals Basket ETF Trust prior to March 31, 2022) (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 abrdn ETFs Sponsor LLC (known as Aberdeen Standard Investments ETFs Sponsor LLC prior to March 1, 2022) (the “Sponsor”)
and The Bank of New York Mellon as Trustee (the “Trustee”). The Trust holds bullion 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 abrdn Physical Precious Metals Basket Shares ETF (known as Aberdeen Standard Physical Precious Metals
Basket Shares ETF prior to March 31, 2022) (“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 abrdn Inc. (known as Aberdeen Standard Investments Inc. prior to January 1, 2022).
abrdn Inc. is a wholly-owned indirect subsidiary of abrdn (formerly known as Standard Life Aberdeen) plc. The Trust is governed by the
Trust Agreement.





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 June 30, 2022, and for the three and six month periods then ended 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, 2021. The results of operations for the three and six months
ended June 30, 2022 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
















abrdn 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 June 30, 2022,
approximately


0.73


% of the Trust’s palladium,


0.73


% of the Trust’s platinum and


24.35


% of the Trust’s silver was
held by one or more sub-custodians. At June 30, 2022


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
















abrdn 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$)


June 30, 2022



December 31, 2021


Level 1









Investment in Bullion


$


1,071,503




$


971,011









There were no transfers between levels during the six months ended June 30, 2022 or the year ended December 31, 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 June 30, 2022, the Trust had




no




Bullion receivable or payable for the creation or redemption of Shares. At December
31, 2021, the Trust had




no




Bullion receivable or payable for the creation or redemption of Shares.












8
















abrdn 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 Sponsor’s Fee 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 June
30, 2022 or December 31, 2021.












9
















abrdn 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 six months ended June 30, 2022 and 2021 are set
out below:


































































































































































































































































































































































































Three Months Ended June 30, 2022


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







Ounces of Bullion


Gold



Palladium



Platinum



Silver



Total


Opening balance




339,014.5






67,802.9






45,201.9






12,430,531.1






12,882,550.4



Creations




16,793.6






3,358.8






2,239.1






615,766.1






638,157.6



Redemptions



(

5,595.0


)



(

1,119.0


)



(

745.9


)



(

205,147.1


)



(

212,607.0


)

Transfers of Bullion to pay expenses



(

515.4


)



(

103.1


)



(

68.7


)



(

18,897.3


)



(

19,584.5


)

Closing balance




349,697.7






69,939.6






46,626.4






12,822,252.8






13,288,516.5
























Investment in Bullion





















Opening balance


$


658,417




$


153,167




$


44,433




$


308,464




$


1,164,481



Creations




31,802






7,263






2,152






14,434






55,651



Redemptions



(

10,295


)



(

2,212


)



(

721


)



(

4,494


)



(

17,722


)

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




1,333






189





(

51


)




66






1,537



Transfers of Bullion to pay expenses



(

999


)



(

231


)



(

67


)



(

449


)



(

1,746


)

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




176






45





(

4


)




42






259



Change in unrealized loss on investment in Bullion



(

45,033


)



(

26,175


)



(

3,452


)



(

56,297


)



(

130,957


)

Closing balance


$


635,401




$


132,046




$


42,290




$


261,766




$


1,071,503



































































































































































































































































































































































































Three Months Ended June 30, 2021


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







Ounces of Bullion


Gold



Palladium



Platinum



Silver



Total


Opening balance




266,369.4






53,273.9






35,515.9






9,766,878.7






10,122,037.9



Creations




33,781.3






6,756.2






4,504.2






1,238,644.3






1,283,686.0



Redemptions


























Transfers of Bullion to pay expenses



(

413.2


)



(

82.6


)



(

55.1


)



(

15,148.7


)



(

15,699.6


)

Closing balance




299,737.5






59,947.5






39,965.0






10,990,374.3






11,390,024.3
























Investment in Bullion





















Opening balance


$


450,444




$


139,844




$


41,980




$


234,405




$


866,673



Creations




61,180






18,705






5,297






33,003






118,185



Redemptions


























Realized gain on Bullion distributed for the redemption of Shares


























Transfers of Bullion to pay expenses



(

735


)



(

226


)



(

67


)



(

393


)



(

1,421


)

Realized gain on Bullion transferred to pay expenses




113






100






11






85






309



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




17,480






3,855





(

4,898


)




16,067






32,504



Closing balance


$


528,482




$


162,278




$


42,323




$


283,167




$


1,016,250












10
















abrdn Precious Metals Basket ETF Trust



































































































































































































































































































































































































Six Months Ended June 30, 2022


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







Ounces of Bullion


Gold



Palladium



Platinum



Silver



Total


Opening balance




305,852.8






61,170.6






40,780.4






11,214,604.8






11,622,408.6



Creations




51,810.8






10,362.2






6,908.1






1,899,730.6






1,968,811.7



Redemptions



(

6,997.1


)



(

1,399.4


)



(

932.9


)



(

256,559.6


)



(

265,889.0


)

Transfers of Bullion to pay expenses



(

968.8


)



(

193.8


)



(

129.2


)



(

35,523.0


)



(

36,814.8


)

Closing balance




349,697.7






69,939.6






46,626.4






12,822,252.8






13,288,516.5
























Investment in Bullion





















Opening balance


$


552,324




$


120,690




$


39,108




$


258,889




$


971,011



Creations




99,953






25,389






7,109






46,661






179,112



Redemptions



(

12,856


)



(

2,745


)



(

906


)



(

5,679


)



(

22,186


)

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




1,723






246





(

60


)




168






2,077



Transfers of Bullion to pay expenses



(

1,816


)



(

437


)



(

128


)



(

829


)



(

3,210


)

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




291






96





(

6


)




72






453



Change in unrealized loss on investment in Bullion



(

4,218


)



(

11,193


)



(

2,827


)



(

37,516


)



(

55,754


)

Closing balance


$


635,401




$


132,046




$


42,290




$


261,766




$


1,071,503
































































































































































































































































































































































































Six Months Ended June 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




73,264.5






14,652.9






9,768.6






2,686,361.1






2,784,047.1



Redemptions



(

11,282.4


)



(

2,256.5


)



(

1,504.3


)



(

413,687.2


)



(

428,730.4


)

Transfers of Bullion to pay expenses



(

778.8


)



(

155.8


)



(

103.8


)



(

28,554.1


)



(

29,592.5


)

Closing balance




299,737.5






59,947.5






39,965.0






10,990,374.3






11,390,024.3
























Investment in Bullion





















Opening balance


$


450,257




$


111,729




$


33,967




$


231,645




$


827,598



Creations




133,380






37,623






11,224






70,967






253,194



Redemptions



(

20,700


)



(

5,348


)



(

1,641


)



(

10,464


)



(

38,153


)

Realized gain on Bullion distributed for the redemption of Shares




4,055






2,139






131






2,370






8,695



Transfers of Bullion to pay expenses



(

1,412


)



(

393


)



(

120


)



(

755


)



(

2,680


)

Realized gain on Bullion transferred to pay expenses




252






164






16






185






617



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



(

37,350


)




16,364





(

1,254


)



(

10,781


)



(

33,021


)

Closing balance


$


528,482




$


162,278




$


42,323




$


283,167




$


1,016,250
















11
















abrdn Precious Metals Basket ETF Trust









Notes to the Financial Statements (Unaudited)











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 June 30, 2022 and 2021, the
Sponsor’s Fee was $


1,703,897


and $


1,473,939


, respectively. For the six months ended June 30, 2022
and 2021, the Sponsor’s Fee was $


3,244,003


and $


2,759,267


, respectively.





At June 30, 2022 and at December 31, 2021, the fees payable
to the Sponsor were $


532,488


and $


498,389


, 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 six months ended June 30, 2022 and 2021.





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.












12
















abrdn Precious Metals Basket ETF Trust









Notes to the Financial Statements (Unaudited)











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.











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.











13












abrdn Precious Metals Basket ETF Trust








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.










14












abrdn Precious Metals Basket ETF Trust





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.





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 June 30, 2022







The Trust’s NAV decreased from
$1,163,906,466 at March 31, 2022 to $1,070,970,687 at June 30, 2022, a 7.98% decrease for the quarter. The decrease in the Trust’s
NAV resulted 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 10.80% from $103.05 at
March 31, 2022 to $91.92 at June 30, 2022. There was an increase in


outstanding Shares, which rose
from 12,100,000 Shares at March 31, 2022 to 12,500,000 Shares at June 30, 2022, as a result of 600,000 Shares (12 Baskets) being created
and 200,000 Shares (4 Baskets) being redeemed.





The NAV per Share decreased 10.93% from $96.19 at March
31, 2022 to $85.68 at June 30, 2022. The Trust’s NAV per Share fell slightly more than Proportionate Price on a percentage basis
due to the Sponsor’s Fee, which was $1,703,897 for the quarter, or 0.60% of the Trust’s ANAV on an annualized basis.





The NAV per Share of $98.69 at April 13, 2022 was the
highest during the quarter, compared with a low of $85.68 at June 30, 2022.





The decrease in net assets from operations for the
quarter ended June 30, 2022 was $130,865,051, resulting from a realized gain of $258,545 on the transfer of Bullion to pay expenses and
a realized gain of $1,536,836 on Bullion distributed for the redemption of Shares, offset by a change in unrealized loss on investment
in Bullion of $130,956,545 and the Sponsor’s Fee of $1,703,897. Other than the Sponsor’s Fee, the Trust had no expenses during
the quarter ended June 30, 2022.







The Six Months Ended June 30, 2022






The Trust’s NAV increased from $970,513,038 at December
31, 2021 to $1,070,970,687 at June 30, 2022, a 10.35% increase for the six months. The increase in the Trust’s NAV resulted primarily
from an increase in outstanding Shares, which rose from 10,900,900 Shares at December 31, 2021 to 12,500,000 Shares at June 30, 2022,
as a result of 1,850,000 Shares (37 Baskets) being created and 250,000 Shares (5 Baskets) being redeemed. There was, however, a decrease
in the Proportionate Price,
which declined 3.49% from $95.24 at December 31, 2021 to $91.92 at June 30, 2022.










15












abrdn Precious Metals Basket ETF Trust





The NAV per Share decreased 3.77% from $89.04 at December
31, 2021 to $85.68 at June 30, 2022. The Trust’s NAV per Share fell slightly more than Proportionate Price on a percentage basis due to
the Sponsor’s Fee, which was $3,244,003 for the period, or 0.60% of the Trust’s ANAV on an annualized basis.





The NAV per Share of $105.06 at March 8, 2022 was the
highest during the period, compared with a low of $85.68 at June 30, 2022.





The decrease in net assets from operations for the
six months ended June 30, 2022 was $56,468,209, resulting from a realized gain of $453,024 on the transfer of Bullion to pay expenses
and a realized gain of $2,076,789 on Bullion distributed for the redemption of Shares, offset by a change in unrealized loss on investment
in Bullion of $55,754,019 and the Sponsor’s Fee of $3,244,003. Other than the Sponsor’s Fee, the Trust had no expenses during the six
months ended June 30, 2022.







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 June 30, 2022, 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 Disclosures About Market Risk



Not applicable.










Item 4. Controls and Procedures



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 June 30, 2022, 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 June 30, 2022 that have materially affected, or are reasonably
likely to materially affect, the Trust’s or Sponsor’s internal control over financial reporting.










16












abrdn Precious Metals Basket ETF Trust








PART II. OTHER INFORMATION








Item 1. Legal Proceedings



None.








Item 1A. Risk Factors



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,
2021.







Risks Related to Bullion




On March 7, 2022, in response to Russia’s invasion of
Ukraine, the LBMA suspended six Russian refiners (all of which refine gold and five of which refine silver) on March 7, 2022, and
the LPPM suspended two government-owned Russian platinum and palladium refiners. New productions by such refiners will no longer be
accepted as “Good Deliver” by the LBMA and LPPM until further notice. The bars and sponges these refiners previously
produced will still be considered Good Delivery, consistent with past suspensions of refiners by the LBMA and LPPM. Fewer suppliers
to the LBMA and LPPM may lead to lower supply of Good Delivery Bullion and further volatility in the price of Bullion.





On June 26, 2022, Canada, Japan, the United Kingdom, and the United States
announced sanctions that prevent Russia gold from entering their respective countries. The import ban will only apply to newly mined or
refined gold and does not impact Russian-origin gold previously exported from Russia. On August 3, 2022, Switzerland announced sanctions that ban buying, importing or transporting gold and gold products from Russia, as well
as services in connection with said gold and gold products. Although it is not possible to predict the impact that these sanctions may
have, such sanctions could impact the operations of the Trust and its service providers and could significantly harm the value of the
Trust's Shares.







General Risks





Armed conflict can result in significant disruptions to the commodities
markets and could adversely affect the price of the Shares.





On February 24, 2022, Russia commenced an invasion of Ukraine. In response
to such conflict or for other reasons, governments have imposed and may impose additional economic sanctions against Russia, certain other
countries, entities and/or individuals. Economic sanctions and other similar governmental actions could, among other things, prevent or
prohibit certain entities or individuals from participating in the bullion and commodities markets or otherwise impact the functioning
of those markets. Such actions could affect the value of Bullion held by the Fund. Sanctions could also result in countermeasures or retaliatory
actions, which may impact the value of Bullion. Although it is not possible to predict the impact that any sanctions and retaliatory actions
may have on the Fund, such events could significantly harm the value of the Fund’s shares.








Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds




Item 2(a).

None.




Item 2(b).

Not applicable.




Item 2(c).

For the three months ended June
30, 2022:



12 Baskets were created.



4 Baskets were redeemed.



































































































































Average ounces of Bullion per Share


Period




Total Baskets




Redeemed







Total Shares




Redeemed











Gold





Palladium



Platinum



Silver


April 2022


—



—



—



—



—



—



May 2022



1



50,000



0.028



0.006



0.004



1.026



June 2022



3



150,000



0.028



0.006



0.004



1.026




4



200,000



0.028



0.006



0.004



1.026










Item 3. Defaults Upon Senior Securities



None.










Item 4. Mine Safety Disclosures



Not applicable.










Item 5. Other Information



None.










17












abrdn Precious Metals Basket ETF Trust








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 June 30, 2022, 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 June 30, 2022, formatted in Inline XBRL (included as Exhibit 101).








18












abrdn Precious Metals Basket ETF Trust










SIGNATURES





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.




















































abrdn ETFs Sponsor LLC





Date: August 5, 2022



/s/ Steven Dunn




Steven Dunn*




President and Chief Executive Officer




(Principal Executive Officer)





Date: August 5, 2022



/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 abrdn ETFs Sponsor LLC, the Sponsor of the Registrant.












19






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

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