Significant Accounting Policies (Tables)

12 Months Ended

Jan. 31, 2025

The following table summarizes the inputs used as of January 31, 2025 in determining the Trust’s investments at fair value for purposes of ASC 820:

The following table summarizes the inputs used as of January 31, 2024 in determining the Trust’s investments at fair value for purposes of ASC 820:

Changes in the shares for the year ending January 31, 2025 are as follows:

	Shares			Amount
Shares, beginning of year at February 1, 2024		39,626,030		$	657,109,274
Shares issued		9,407,625			230,560,739
Shares redeemed		(368,969	)		(9,295,829	)
Shares, end of year at January 31, 2025		48,664,686		$	878,374,184

Changes in the shares for the year ending January 31, 2024 are as follows:

	Shares			Amount
Shares, beginning of year at February 1, 2023		35,203,259		$	571,416,810
Shares issued		5,944,690			114,227,672
Shares redeemed		(1,521,919	)		(28,535,208	)
Shares, end of year at January 31, 2024		39,626,030		$	657,109,274

Changes in the shares for the year ending January 31, 2023 are as follows:

	Shares			Amount
Shares, beginning of year at February 1, 2022		33,599,843		$	532,684,047
Shares issued		7,638,953			137,482,147
Shares redeemed		(6,035,537	)		(98,749,384	)
Shares, end of year at January 31, 2023		35,203,259		$	571,416,810

VanEck Merk Gold ETF 10-K