GraniteShares Platinum Trust (PLTM) 10-K 14 Aug 23 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jun. 30, 2023	Aug. 14, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--06-30
Entity File Number	001-38349
Entity Registrant Name	GRANITESHARES PLATINUM TRUST
Entity Central Index Key	0001690842
Entity Tax Identification Number	82-6644954
Entity Incorporation, State or Country Code	NY
Entity Address, Address Line One	c/o GRANITESHARES LLC
Entity Address, Address Line Two	222 Broadway – 21st floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10038
City Area Code	(646)
Local Phone Number	876 5096
Title of 12(b) Security	GraniteShares Platinum Shares
No Trading Symbol Flag	true
Security Exchange Name	NYSEArca
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Public Float	$ 35,360,000
Entity Common Stock, Shares Outstanding		4,400,000
Documents Incorporated by Reference [Text Block]	None
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	445
Auditor Name	TAIT, WELLER & BAKER LLP
Auditor Location	Philadelphia, Pennsylvania

Statements of Assets and Liabil

Statements of Assets and Liabilities - USD ($) $ in Thousands		Jun. 30, 2023	Jun. 30, 2022
Assets
Investment in platinum, at fair value	[1]	$ 34,934	$ 44,821
Total Assets		34,934	44,821
Liabilities
Fees payable to Sponsor		15	20
Total Liabilities		15	20
Net Assets		$ 34,919	$ 44,801
Shares issued and outstanding	[2]	4,000,000	5,050,000
Net asset value per Share		$ 8.73	$ 8.87
[1]Cost of investment in platinum: $ 40,355 51,381 unlimited

Statements of Assets and Liab_2

Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of Investments [Abstract]
Cost of investment in platinum bullion	$ 40,355	$ 51,381
Common stock, shares authorized	Unlimited	Unlimited

Schedules of Investments

Schedules of Investments $ in Thousands	Jun. 30, 2023 USD ($) oz	Jun. 30, 2022 USD ($) oz
Investment in gold bullion | oz	38,945.929	49,416.657
Cost	$ 40,355	$ 51,381
Fair value	$ 34,934	$ 44,821
Percentage of net assets	100.04%	100.04%
Assets less liabilities	$ (15)	$ (20)
Assets less liabilities, percentage of net assets	(0.04%)	(0.04%)
Net assets	$ 34,919	$ 44,801
Net assets, percentage of net assets	100%	100%
Platinum [Member]
Investment in gold bullion | oz	38,945.929	49,416.657
Cost	$ 40,355	$ 51,381
Fair value	$ 34,934	$ 44,821
Percentage of net assets	100.04%	100.04%

Statements of Operations

Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Expenses
Sponsor fees	$ 217	$ 210	$ 130
Total expenses	217	210	130
Net investment loss	(217)	(210)	(130)
Net realized gain (loss) from:
Platinum bullion sold to pay expenses	(17)	(7)	11
Platinum bullion distributed for the redemption of Shares	(236)	(520)	(23)
Net realized gain (loss)	(253)	(527)	(12)
Net change in unrealized appreciation (depreciation)	1,139	(6,886)	1,452
Net realized and unrealized gain (loss)	886	(7,413)	1,440
Net increase (decrease) in net assets resulting from operations	$ 669	$ (7,623)	$ 1,310
Net increase (decrease) in net assets per share	$ 0.15	$ (1.78)	$ 0.54
Weighted average number of shares (in 000’s)	4,595	4,282	2,433

Statements of Changes in Net As

Statements of Changes in Net Assets - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net Assets – beginning of year	$ 44,801	$ 37,478	$ 8,845
Creation of 350,000, 2,550,000 and 2,650,000 shares respectively	3,392	25,625	28,667
Redemption of (1,400,000), (1,100,000) and (150,000) shares respectively	(13,943)	(10,679)	(1,344)
Net investment income (loss)	(217)	(210)	(130)
Net realized gain (loss) from platinum bullion sold to pay expenses	(17)	(7)	11
Net realized gain (loss) from platinum bullion distributed for redemptions	(236)	(520)	(23)
Net change in unrealized appreciation (depreciation) on investment in platinum bullion	1,139	(6,886)	1,452
Net Assets – end of year	$ 34,919	$ 44,801	$ 37,478

Statements of Changes in Net _2

Statements of Changes in Net Assets (Parenthetical) - shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Creations, shares	350,000	2,550,000	2,650,000
Redemptions, shares	1,400,000	1,100,000	150,000

Financial Highlights

Financial Highlights - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Net asset value per Share at beginning of year		$ 8.87	$ 10.41	$ 8.04
Net investment income (loss)	[1]	(0.05)	(0.05)	(0.05)
Net realized and unrealized gain (loss) on investment in platinum		(0.09)	(1.49)	2.42
Net change in net assets from operations		(0.14)	(1.54)	2.37
Net asset value per Share at end of year		$ 8.73	$ 8.87	$ 10.41
Total return ratio, at net asset value		(1.58%)	(14.79%)	29.48%
Total return ratio, at market price		0.68%	(16.90%)	28.95%
Net assets ($000’s)		$ 34,919	$ 44,801	$ 37,478
Ratio to average net assets
Net investment loss		(0.50%)	(0.50%)	(0.50%)
Expenses		0.50%	0.50%	0.50%
[1]Calculated using the average shares outstanding method.

Organization

Organization	12 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization GraniteShares Platinum Trust (the “Trust”) is an investment trust formed on January 11, 2018 under New York law pursuant to a trust indenture. The Sponsor of the Trust, GraniteShares LLC (the “Sponsor”), is responsible for, among other things, overseeing the performance of The Bank of New York Mellon (the “Trustee”) and the Trust’s principal service providers, including the preparation of financial statements. The Trustee is responsible for the day-to-day administration of the Trust. The objective of the Trust is for the value of the Shares to reflect, at any given time, the value of the assets owned by the Trust at that time less the Trust’s accrued expenses and liabilities as of that time. The Shares are intended to constitute a simple and cost-effective means of making an investment similar to an investment in platinum. The fiscal year end for the Trust is June 30. Undefined capitalized terms shall have the meaning as set forth in the Trust’s registration statement.

Basis of Accounting and Signifi

Basis of Accounting and Significant Accounting Policies	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting and Significant Accounting Policies	2. Basis of Accounting and Significant Accounting Policies The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that for reporting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940, as amended, and is not required to register under such act. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Trust. 2.1 Custody and Fair Valuation of Platinum The Trust follows the provisions of ASC 820, Fair Value Measurements (“ASC 820”). ASC 820 provides guidance for determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Platinum is held by ICBC Standard Bank Plc (the “Custodian”), on behalf of the Trust, at the Custodian’s London, United Kingdom vaulting premises. 99.82 99.80 LBMA Platinum Price PM is the price per troy ounce of platinum, stated in U.S. dollars, determined by the LME, following an auction process starting after 2:00 p.m. (London time), on each day that the London platinum market is open for business, and announced by the LME shortly thereafter. The per Share amount of platinum exchanged for a purchase or redemption is calculated daily by the Trustee, using the LBMA Platinum Price PM to calculate the platinum amount in respect of any liabilities for which covering platinum sales have not yet been made, and represents the per Share amount of platinum held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred. ASC 820 establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. Level 2: Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments and similar data. Level 3: Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available. The following table summarizes the Trust’s investments at fair value: Schedule of Trust Investments Fair value (Amounts in 000’s of US$) June 30, 2023 Level 1 Level 2 Level 3 Investment in Platinum $ 34,934 $ — $ — Total $ 34,934 $ — $ — (Amounts in 000’s of US$) June 30, 2022 Level 1 Level 2 Level 3 Investment in Platinum $ 44,821 $ — $ — Total $ 44,821 $ — $ — There were no 2.2 Expenses, Realized Gains and Losses The Trust’s only ordinary recurring fee is expected to be the fee paid to the Sponsor, which will accrue daily at an annualized rate equal to 0.50% The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain legal expenses. The fees payable to the Sponsor were $ 15,441 19,453 The Sponsor’s Fee was $216,715 for the year ended June 30, 2023, or 0.50% of the Trust’s assets on an annualized basis 209,660 for the year ended June 30, 2022, or 0.50% of the Trust’s assets on an annualized basis 130,460 for the year ended June 30, 2021, or 0.50% of the Trust’s assets on an annualized basis With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s platinum as necessary to pay these expenses. When selling platinum to pay expenses, the Trustee will endeavor to sell the smallest amounts of platinum needed to pay these expenses in order to minimize the Trust’s holdings of assets other than platinum. Other than the Sponsor’s Fee, the Trust had no expenses during years ended June 30, 2023, 2022 and 2021. Unless otherwise directed by the Sponsor, when selling platinum the Trustee will endeavor to sell at the price established by the LBMA PM Platinum Price. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such platinum only if the sale transaction is made at the next LBMA PM Platinum Price or such other publicly available price that the Sponsor deems fair, in each case as set following the sale order. A gain or loss is recognized based on the difference between the selling price and the cost of the platinum sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale. Realized gains and losses result from the transfer of platinum for Share redemptions and / or to pay expenses and are recognized on a trade date basis as the difference between the fair value and cost of platinum transferred. Gain or loss on sales of platinum bullion is calculated on a trade date basis using the average cost method. 2.3 Platinum. Receivable and Payable Platinum receivable or payable represents the quantity of platinum covered by contractually binding orders for the creation or redemption of Shares respectively, where the platinum has not yet been transferred to or from the Trust’s account. Generally, ownership of the platinum is transferred within two business days of the trade date. 2.4 Creations and Redemptions of Shares The Trust issues and redeems in one or more blocks of 50,000 50,000 Orders to create and redeem Baskets may be placed only by Authorized Participants. An Authorized Participant must: (1) be a registered broker-dealer or other securities market participant, such as a bank or other financial institution, which, but for an exclusion from registration, would be required to register as a broker-dealer to engage in securities transactions, (2) be a participant in DTC, and (3) must have an agreement with the Custodian establishing an unallocated account in London or have an existing unallocated account meeting the standards described herein. To become an Authorized Participant, a person must enter into an Authorized Participant Agreement with the Sponsor and the Trustee. The Authorized Participant Agreement provides the procedures for the creation and redemption of Baskets and for the delivery of the platinum required for such creations and redemptions. The Authorized Participant Agreement and the related procedures attached thereto may be amended by the Trustee and the Sponsor, without the consent of any investor or Authorized Participant. A transaction fee of $ 500 192 Authorized Participants who make deposits with the Trust in exchange for Baskets will receive no fees, commissions or other form of compensation or inducement of any kind from either the Sponsor or the Trust, and no such person has any obligation or responsibility to the Sponsor or the Trust to effect any sale or resale of shares. 2.5 Income Taxes The Trust is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust itself will not be subject to United States federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, gains, losses and deductions to the Internal Revenue Service on that basis. The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no The Sponsor evaluates tax positions taken or expected to be taken in the course of preparing the Trust’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet that threshold would be recorded as an expense in the current year. The Trust is required to analyze all open tax years. Open tax years are those years that are open for examination by the relevant income taxing authority. As of June 30, 2023, the 2023, 2022, 2021 and 2020 tax years remain open for examination. 2.6 Emerging Growth Company qualification The Trust is an “emerging growth company” as defined in the JOBS Act, and as such, is permitted to meet reduced public company reporting requirements.

Investment in platinum

Investment in platinum	12 Months Ended
	Jun. 30, 2023
Schedule of Investments [Abstract]
Investment in platinum	3. Investment in platinum Changes in ounces of platinum and their respective values for the year ended June 30, 2023. Schedule of Investment in Platinum Amounts in 000’s of US$, except for ounces data Ounces Fair Value Opening balance as of June 30, 2022 49,416.657 $ 44,821 Platinum contributed 3,412.559 3,392 Platinum distributed (13,883.287 ) (14,418 ) Change in unrealized appreciation (depreciation) - 1,139 Ending balance as of June 30, 2023 38,945.929 $ 34,934 Changes in ounces of platinum and their respective values for the year ended June 30, 2022. Amounts in 000’s of US$, except for ounces data Ounces Fair Value Opening balance as of June 30, 2021 35,405.333 $ 37,494 Platinum contributed 24,986.798 25,625 Platinum distributed (10,975.474 ) (11,412 ) Change in unrealized appreciation (depreciation) - (6,886 ) Ending balance as of June 30, 2022 49,416.657 $ 44,821

Related parties _ Sponsor and T

Related parties – Sponsor and Trustee	12 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related parties – Sponsor and Trustee	4. Related parties – Sponsor and Trustee A fee is paid to the Sponsor as compensation for services performed under the Trust Agreement. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust: the Trustee’s fee and out-of-pocket expenses, the custodian’s fee and reimbursement of the custodian expenses, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and up to $ 100,000 0.50% The Sponsor, from time to time, may temporarily waive all or a portion of the Sponsor’s Fee at its discretion for a stated period of time. Presently, the Sponsor does not intend to waive any part of its fee. Affiliates of the Trustee, may from time to time act as Authorized Participants or purchase or sell platinum or Shares for their own account, as agent for their customers and for accounts over which they exercise investment discretion.

Concentration of risk

Concentration of risk	12 Months Ended
	Jun. 30, 2023
Risks and Uncertainties [Abstract]
Concentration of risk	5. Concentration of risk The Trust’s sole business activity is the investment in platinum. Several factors could affect the price of platinum, including: (i) global platinum supply and demand, which is influenced by factors such as production and cost levels in major platinum-producing countries, recycling, autocatalyst demand, industrial demand, jewelry demand and investment demand; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that platinum will maintain its long-term value in terms of purchasing power in the future. In the event that the price of platinum declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a material effect on the Trust’s financial position and results of operations.

Indemnification

Indemnification	12 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Indemnification	6. Indemnification Under the Trust’s organizational documents, each of the Trustee (and its directors, officers, employees, shareholders, agents and affiliates) and the Sponsor (and its members, managers, directors, officers, employees, agents and affiliates) is indemnified against any liability, loss or expense it incurs without (i) gross negligence, bad faith, willful misconduct or willful misfeasance on its part in connection with the performance of its obligations under the Trust Agreement or any such other agreement or any actions taken in accordance with the provisions of the Trust Agreement or any such other agreement and (ii) reckless disregard on its part of its obligations and duties under the Trust Agreement or any such other agreement. Such indemnity shall also include payment from the Trust of the reasonable costs and expenses incurred by the indemnified party in investigating or defending itself against any such loss, liability or expense or any claim therefor. In addition, the Sponsor may, in its sole discretion, undertake any action that it may deem necessary or desirable in respect of the Trust Agreement and in such event, the reasonable legal expenses and costs and other disbursements of any such actions shall be expenses and costs of the Trust and the Sponsor shall be entitled to reimbursement by the Trust. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

Subsequent events

Subsequent events	12 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent events	7. Subsequent events Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosures.

Basis of Accounting and Signi_2

Basis of Accounting and Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Custody and Fair Valuation of Platinum	2.1 Custody and Fair Valuation of Platinum The Trust follows the provisions of ASC 820, Fair Value Measurements (“ASC 820”). ASC 820 provides guidance for determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Platinum is held by ICBC Standard Bank Plc (the “Custodian”), on behalf of the Trust, at the Custodian’s London, United Kingdom vaulting premises. 99.82 99.80 LBMA Platinum Price PM is the price per troy ounce of platinum, stated in U.S. dollars, determined by the LME, following an auction process starting after 2:00 p.m. (London time), on each day that the London platinum market is open for business, and announced by the LME shortly thereafter. The per Share amount of platinum exchanged for a purchase or redemption is calculated daily by the Trustee, using the LBMA Platinum Price PM to calculate the platinum amount in respect of any liabilities for which covering platinum sales have not yet been made, and represents the per Share amount of platinum held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred. ASC 820 establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. Level 2: Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments and similar data. Level 3: Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available. The following table summarizes the Trust’s investments at fair value: Schedule of Trust Investments Fair value (Amounts in 000’s of US$) June 30, 2023 Level 1 Level 2 Level 3 Investment in Platinum $ 34,934 $ — $ — Total $ 34,934 $ — $ — (Amounts in 000’s of US$) June 30, 2022 Level 1 Level 2 Level 3 Investment in Platinum $ 44,821 $ — $ — Total $ 44,821 $ — $ — There were no
Expenses, Realized Gains and Losses	2.2 Expenses, Realized Gains and Losses The Trust’s only ordinary recurring fee is expected to be the fee paid to the Sponsor, which will accrue daily at an annualized rate equal to 0.50% The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain legal expenses. The fees payable to the Sponsor were $ 15,441 19,453 The Sponsor’s Fee was $216,715 for the year ended June 30, 2023, or 0.50% of the Trust’s assets on an annualized basis 209,660 for the year ended June 30, 2022, or 0.50% of the Trust’s assets on an annualized basis 130,460 for the year ended June 30, 2021, or 0.50% of the Trust’s assets on an annualized basis With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s platinum as necessary to pay these expenses. When selling platinum to pay expenses, the Trustee will endeavor to sell the smallest amounts of platinum needed to pay these expenses in order to minimize the Trust’s holdings of assets other than platinum. Other than the Sponsor’s Fee, the Trust had no expenses during years ended June 30, 2023, 2022 and 2021. Unless otherwise directed by the Sponsor, when selling platinum the Trustee will endeavor to sell at the price established by the LBMA PM Platinum Price. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such platinum only if the sale transaction is made at the next LBMA PM Platinum Price or such other publicly available price that the Sponsor deems fair, in each case as set following the sale order. A gain or loss is recognized based on the difference between the selling price and the cost of the platinum sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale. Realized gains and losses result from the transfer of platinum for Share redemptions and / or to pay expenses and are recognized on a trade date basis as the difference between the fair value and cost of platinum transferred. Gain or loss on sales of platinum bullion is calculated on a trade date basis using the average cost method.
Platinum. Receivable and Payable	2.3 Platinum. Receivable and Payable Platinum receivable or payable represents the quantity of platinum covered by contractually binding orders for the creation or redemption of Shares respectively, where the platinum has not yet been transferred to or from the Trust’s account. Generally, ownership of the platinum is transferred within two business days of the trade date.
Creations and Redemptions of Shares	2.4 Creations and Redemptions of Shares The Trust issues and redeems in one or more blocks of 50,000 50,000 Orders to create and redeem Baskets may be placed only by Authorized Participants. An Authorized Participant must: (1) be a registered broker-dealer or other securities market participant, such as a bank or other financial institution, which, but for an exclusion from registration, would be required to register as a broker-dealer to engage in securities transactions, (2) be a participant in DTC, and (3) must have an agreement with the Custodian establishing an unallocated account in London or have an existing unallocated account meeting the standards described herein. To become an Authorized Participant, a person must enter into an Authorized Participant Agreement with the Sponsor and the Trustee. The Authorized Participant Agreement provides the procedures for the creation and redemption of Baskets and for the delivery of the platinum required for such creations and redemptions. The Authorized Participant Agreement and the related procedures attached thereto may be amended by the Trustee and the Sponsor, without the consent of any investor or Authorized Participant. A transaction fee of $ 500 192 Authorized Participants who make deposits with the Trust in exchange for Baskets will receive no fees, commissions or other form of compensation or inducement of any kind from either the Sponsor or the Trust, and no such person has any obligation or responsibility to the Sponsor or the Trust to effect any sale or resale of shares.
Income Taxes	2.5 Income Taxes The Trust is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust itself will not be subject to United States federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, gains, losses and deductions to the Internal Revenue Service on that basis. The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no The Sponsor evaluates tax positions taken or expected to be taken in the course of preparing the Trust’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet that threshold would be recorded as an expense in the current year. The Trust is required to analyze all open tax years. Open tax years are those years that are open for examination by the relevant income taxing authority. As of June 30, 2023, the 2023, 2022, 2021 and 2020 tax years remain open for examination.
Emerging Growth Company qualification	2.6 Emerging Growth Company qualification The Trust is an “emerging growth company” as defined in the JOBS Act, and as such, is permitted to meet reduced public company reporting requirements.

Basis of Accounting and Signi_3

Basis of Accounting and Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Trust Investments Fair value	The following table summarizes the Trust’s investments at fair value: Schedule of Trust Investments Fair value (Amounts in 000’s of US$) June 30, 2023 Level 1 Level 2 Level 3 Investment in Platinum $ 34,934 $ — $ — Total $ 34,934 $ — $ — (Amounts in 000’s of US$) June 30, 2022 Level 1 Level 2 Level 3 Investment in Platinum $ 44,821 $ — $ — Total $ 44,821 $ — $ —

Investment in platinum (Tables)

Investment in platinum (Tables)	12 Months Ended
	Jun. 30, 2023
Schedule of Investments [Abstract]
Schedule of Investment in Platinum	Changes in ounces of platinum and their respective values for the year ended June 30, 2023. Schedule of Investment in Platinum Amounts in 000’s of US$, except for ounces data Ounces Fair Value Opening balance as of June 30, 2022 49,416.657 $ 44,821 Platinum contributed 3,412.559 3,392 Platinum distributed (13,883.287 ) (14,418 ) Change in unrealized appreciation (depreciation) - 1,139 Ending balance as of June 30, 2023 38,945.929 $ 34,934 Changes in ounces of platinum and their respective values for the year ended June 30, 2022. Amounts in 000’s of US$, except for ounces data Ounces Fair Value Opening balance as of June 30, 2021 35,405.333 $ 37,494 Platinum contributed 24,986.798 25,625 Platinum distributed (10,975.474 ) (11,412 ) Change in unrealized appreciation (depreciation) - (6,886 ) Ending balance as of June 30, 2022 49,416.657 $ 44,821

Schedule of Trust Investments F

Schedule of Trust Investments Fair value (Details) - USD ($) $ in Thousands	Jun. 30, 2023		Jun. 30, 2022		Jun. 30, 2021
Platform Operator, Crypto-Asset [Line Items]
Total	$ 34,934	[1]	$ 44,821	[1]	$ 37,494
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto-Asset [Line Items]
Total	34,934		44,821
Fair Value, Inputs, Level 1 [Member] | Platinum [Member]
Platform Operator, Crypto-Asset [Line Items]
Total	34,934		44,821
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto-Asset [Line Items]
Total
Fair Value, Inputs, Level 2 [Member] | Platinum [Member]
Platform Operator, Crypto-Asset [Line Items]
Total
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto-Asset [Line Items]
Total
Fair Value, Inputs, Level 3 [Member] | Platinum [Member]
Platform Operator, Crypto-Asset [Line Items]
Total
[1]Cost of investment in platinum: $ 40,355 51,381

Basis of Accounting and Signi_4

Basis of Accounting and Significant Accounting Policies (Details Narrative)	12 Months Ended
	Jun. 30, 2023 USD ($) oz shares	Jun. 30, 2022 USD ($)	Jun. 30, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Percenatge of allocated platinum available for sale	99.82%	99.80%
Fair value measurements transfers	$ 0	$ 0
Fair value measurements transfers	$ 0	0
Fee paid to sponsor, annualized rate	0.50%
Fees payable to sponsor, value	$ 15,000	$ 20,000
Sponsor fee description	The Sponsor’s Fee was $216,715 for the year ended June 30, 2023, or 0.50% of the Trust’s assets on an annualized basis	209,660 for the year ended June 30, 2022, or 0.50% of the Trust’s assets on an annualized basis	130,460 for the year ended June 30, 2021, or 0.50% of the Trust’s assets on an annualized basis
Minimum block of shares issued redeemed | shares	50,000
Transaction fee for creations and redemptions	$ 500
Trust unallocated account | oz	192
Uncertain tax positions taken in tax returns	$ 0	$ 0
Income tax examiation, description	As of June 30, 2023, the 2023, 2022, 2021 and 2020 tax years remain open for examination.
Sponsor [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Fees payable to sponsor, value	$ 15,441	$ 19,453

Schedule of Investment in Plati

Schedule of Investment in Platinum (Details) $ in Thousands		9 Months Ended		12 Months Ended
		Mar. 31, 2023 USD ($) oz		Jun. 30, 2023 USD ($) oz		Jun. 30, 2022 USD ($) oz
Schedule of Investments [Abstract]
Platinum opening balance (in Ounces) | oz		49,416.657		49,416.657		35,405.333
Platinum opening balance		$ 44,821	[1]	$ 44,821	[1]	$ 37,494
Platinum contributed (in Ounces) | oz				3,412.559		24,986.798
Platinum contributed				$ 3,392		$ 25,625
Platinum distributed (in Ounces) | oz				(13,883.287)		(10,975.474)
Platinum distributed				$ (14,418)		$ (11,412)
Change in unrealized depreciation (in Ounces) | oz
Change in unrealized depreciation		$ 1,139
Platinum ending balance (in Ounces) | oz				38,945.929		49,416.657
Platinum ending balance	[1]			$ 34,934		$ 44,821
Change in unrealized depreciation						$ (6,886)
[1]Cost of investment in platinum: $ 40,355 51,381

Related parties _ Sponsor and_2

Related parties – Sponsor and Trustee (Details Narrative)	12 Months Ended
	Jun. 30, 2023 USD ($)
Fee paid to sponsor percentage	0.50%
Maximum [Member]
Audit fees and expenses	$ 100,000