UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 14, 2024 (
(Exact name of registrant as specified in its charter)
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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. ☐
| Item 1.02 | Termination of a Material Definitive Agreement. |
Termination of Allocated and Unallocated Account Agreements with Prior Custodian
Effective August 8, 2024, JPMorgan Chase Bank N.A. (“JPMorgan” or the “Former Custodian”) no longer serves as a custodian of the Trust’s gold, silver, platinum and palladium metal (“Bullion”).
Pursuant to the notice of termination of the allocated and unallocated account agreements with the Former Custodian (the “Former Custody Agreements”) delivered to the Former Custodian, the termination became effective on August 8, 2024, which was the date on which all Bullion held in the allocated and unallocated accounts governed by the Former Custody Agreements had transferred to the allocated and unallocated accounts governed by the allocated and unallocated account agreements with ICBC Standard Bank Plc (the “New Custodian”). Accordingly, custody of all of the Trust’s Bullion is now pursuant to the allocated and unallocated account agreements with the New Custodian.
No cost or expense was, or will be, incurred by the Trust or the holders of the abrdn Physical Precious Metals Basket Shares ETF in connection with the termination of the Former Custody Agreements.
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 hereunto duly authorized.
| ABRDN PRECIOUS METALS BASKET ETF TRUST | ||
| By: abrdn ETFs Sponsor LLC, | ||
| Sponsor of the abrdn Precious Metals Basket ETF Trust | ||
| Date: August 14, 2024 | By: | /s/Brian Kordeck |
| Brian Kordeck | ||
| Chief Financial Officer and Treasurer* | ||
| * | The Registrant is a trust and Mr. Kordeck is signing in his capacities as officer of abrdn ETFs Sponsor LLC, the Sponsor of the Registrant. |