Net Asset Value (NAV) of the Trust increased by 95.22% from $3,756,119,448 at December 31, 2024, to $7,332,589,978 at December 31, 2025. Outstanding Shares grew from 150,700,000 to 178,600,000 during 2025, with 40,200,000 Shares created and 12,300,000 Shares redeemed. The price per ounce of gold rose by 65.00% from $2,610.85 at December 31, 2024, to $4,307.95 at December 31, 2025. NAV per Share increased by 64.77% from $24.92 at December 31, 2024, to $41.06 at December 31, 2025. Net increase in net assets from operations for 2025 was $2,653,692,212, significantly up from $710,639,056 in 2024. The Sponsor's Fee for 2025 was $9,255,459, representing an annualized rate of 0.17% of the Adjusted Net Asset Value (ANAV). Realized gains on gold transferred to pay expenses and distributed for redemptions totaled $165,464,000 in 2025. Unrealized gain on investment in gold increased by $2,497,483,041 in 2025.