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British Pound Sterling Deposits
6 Months Ended
Jun. 30, 2019
Cash And Cash Equivalents [Abstract]  
British Pound Sterling Deposits

Note 4 – British Pound Sterling Deposits

British Pound Sterling principal deposits are held in a British Pound Sterling-denominated, interest-bearing demand account. The interest rate in effect as of June 30, 2019 was an annual nominal rate of 0.35%. For the six months ended June 30, 2019, there were British Pound Sterling principal deposits of 33,946,451, British Pound Sterling principal redemptions of 43,645,433 and British Pound Sterling withdrawals (to pay expenses) of 24,527, resulting in an ending British Pound Sterling principal balance of 96,982,616. This equates to 123,429,795 USD (which includes USD redemptions payable). For the two months ended December 31, 2018, there were British Pound Sterling principal deposits of 19,401,440, British Pound Sterling principal redemptions of 29,102,021 and British Pound Sterling withdrawals (to pay expenses) of 9,701, resulting in an ending British Pound Sterling principal balance of 106,706,125. This equates to 135,900,899 USD.

Net interest, if any, associated with creation and redemption activity is held in a British Pound Sterling-denominated non-interest-bearing account, and any balance is distributed in full as part of the monthly income distributions, if any.