The Market Vectors Redeemable Gold Trust shares are issued by the trust in blocks of shares as “baskets” in exchange for London bars from certain registered broker-dealers or other securities market participants. The trust issues and redeems baskets on an ongoing basis at net asset value to authorized participants who have entered into a contract with the sponsor and the trustee.
Market Vectors Redeemable Silver Trust has a proposed maximum aggregate offering price of $1,000,000, but that is solely for the purpose of determining the amount of the registration fee. The trust will hold London good delivery bars, and shares are issued by the trust in blocks of shares as baskets in exchange for London bars from certain registered broker-dealers or other securities market participants.
The full filings are available here for the silver trust and here for the gold trust.
Until more data is available closer to the launch date, we will keep this as “posted without comment” in order not to create any confusion.
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