Ishares Gold Trust
Business Description
The purpose of the iShares® Gold Trust (the “Trust”) is to
own gold transferred to the Trust in exchange for shares issued by the Trust
(“Shares”). Each Share represents a fractional undivided beneficial
interest in the net assets of the Trust. The assets of the Trust consist primarily
of gold held by the Trust’s custodian on behalf of the Trust. However,
there may be situations where the Trust will unexpectedly hold cash. For example,
a claim may arise against a third party, which is settled in cash. In situations
where the Trust unexpectedly receives cash or other assets, no new Shares will
be issued until after the record date for the distribution of such cash or other
property has passed.
The Trust was formed on January 21, 2005 when an initial deposit of gold was
made in exchange for the issuance of three Baskets (a “Basket” consists
of 50,000 Shares). The Trust is a grantor trust formed under the laws of the
State of New York.
The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the “Sponsor”),
a Delaware limited liability company and an indirect subsidiary of BlackRock,
Inc. The trustee of the Trust is The Bank of New York Mellon (the “Trustee”)
and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the
“Custodian”). The agreement between the Trust and the Custodian
is governed by English law. The Trust does not have any officers, directors
or employees.
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