The funds pay their annual expenses such as storage, insurance, and management fees to the sponsor by selling a small amount of gold; therefore, the amount of gold in each share will gradually decline over time.
It amended its articles of incorporation in 1983 to provide investors with a product for ownership of gold and silver bullion.
[6] A history of the birth of the first gold ETFs was published by the London Bullion Market Association in 2021.
[7] On November 18, 2004, State Street Corporation launched SPDR Gold Shares, which surpassed $1 billion in assets within its first three trading days.
[citation needed] In February 2021, Wilshire Phoenix launched the wShares Enhanced Gold Trust which tracks the Wilshire Gold Index, a proprietary index that uses an adaptive exposure approach to automatically rebalance physical gold and cash based on changing market conditions.