Sprott Physical Gold Trust Overview
Pro stress-test →Sprott Physical Gold Trust is an exchange-traded commodity launched and managed by Sprott Asset Management LP that primarily invests in physical gold bullion in London Good Delivery bar form. As of June 8, 2026, PHYS holds 3,683,081 ounces of gold. Trust units are highly liquid, with average daily trading volume of $40 million, and can be sold on any open trading day for the New York Stock Exchange or Toronto Stock Exchange.
Strategic Profile
Pro stress-test →PHYS provides investors with exposure to physical gold at a time when demand is high, causing excessive premiums on coins and bars. The Trust only holds fully allocated and unencumbered gold, and unitholders can redeem their units for physical gold bullion on a monthly basis, subject to certain minimum requirements. The Trust's metal is held in custody by the Royal Canadian Mint, a Federal Crown Corporation of the Government of Canada.
Competitive Landscape
Pro stress-test →PHYS competes with other gold exchange-traded products including GLD (SPDR Gold Shares via BlackRock), IAU (iShares Gold Trust), and traditional physical gold bullion dealers. Its key competitive advantage is the combination of full allocation transparency, redemption rights, and high daily liquidity. Unlike GLD and IAU (which use allocated or unallocated structures varying by product), PHYS guarantees fully allocated physical bullion with explicit redemption mechanisms monthly.
Industry Context
Sprott Physical Gold Trust operates in Commodity trust funds.
Key facts
Founded: 2009 · Headquarters: Toronto, Canada · Employees: Managed by Sprott Asset Management (staffing embedded in parent) · Revenue: N/A (closed-end trust; generates no operating revenue) · Market cap: ~$16.0B (at ~$4,350/oz gold, 3.68M oz × unit structure)