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PLTM GraniteShares Platinum Trust

Document and Entity Information

Document and Entity Information - shares9 Months Ended
Mar. 31, 2021May 05, 2021
Cover [Abstract]
Entity Registrant NameGraniteShares Platinum Trust
Entity Central Index Key0001690842
Document Type10-Q
Document Period End DateMar. 31,
2021
Amendment Flagfalse
Current Fiscal Year End Date--06-30
Entity Current Reporting StatusNo
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Business Flagfalse
Entity Emerging Growth Companytrue
Entity Ex Transition Periodtrue
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding3,600,000
Document Fiscal Period FocusQ3
Document Fiscal Year Focus2021

Statements of Assets and Liabil

Statements of Assets and Liabilities - USD ($) $ in ThousandsMar. 31, 2021Jun. 30, 2020
Assets
Investment in platinum, at fair value[1] $ 41,902 $ 8,849
Total Assets41,902 8,849
Liabilities
Fees payable to Sponsor18 4
Total Liabilities18 4
Net Assets $ 41,884 $ 8,845
Shares issued and outstanding[2]3,600,000 1,100,000
Net asset value per Share $ 11.63 $ 8.04
[1]Cost of investment in platinum: $37,215 and $9,975, respectively.
[2]No par value, unlimited amount authorized.

Statements of Assets and Liab_2

Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands9 Months Ended12 Months Ended
Mar. 31, 2021Jun. 30, 2020
Statement of Financial Position [Abstract]
Cost of investment in platinum bullion $ 37,215 $ 9,975
Common stock, no par value
Common stock, shares authorizedUnlimitedUnlimited

Schedules of Investments

Schedules of Investments $ in ThousandsMar. 31, 2021USD ($)ozJun. 30, 2020USD ($)oz
Income Statement [Abstract]
Investment in Platinum (oz) | oz35,449.599 10,871.136
Cost $ 37,215 $ 9,975
Fair Value41,902 8,849
Liabilities in excess of other assets(18)(4)
Net Assets $ 41,884 $ 8,845
Total investment % of Net Assets100.04%100.03%
Less liabilities, % of Net Assets(0.04%)(0.03%)
Net Assets, % of Net Assets100.00%100.00%

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2021Mar. 31, 2020Mar. 31, 2021Mar. 31, 2020
Expenses
Sponsor fees $ 41 $ 12 $ 78 $ 27
Total expenses41 12 78 27
Net investment loss(41)(12)(78)(27)
Net realized gain (loss) from:
Platinum bullion sold to pay expenses4 [1]3 (1)[1]
Platinum bullion distributed for the redemption of Shares [1](719)(23)(719)
Net realized gain (loss)4 (719)(20)(720)
Net change in unrealized appreciation (depreciation)2,015 (2,333)5,813 (1,332)
Net realized and unrealized gain (loss)2,019 (3,052)5,793 (2,052)
Net increase (decrease) in net assets resulting from operations $ 1,978 $ (3,064) $ 5,715 $ (2,079)
Net increase (decrease) in net assets per share $ 0.67 $ (2.71) $ 2.79 $ (2.56)
Weighted average number of shares2,940,000 1,131,000 2,045,000 811,000
[1]Amounts do not round to $1.

Statements of Changes in Net As

Statements of Changes in Net Assets (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2021Mar. 31, 2020Mar. 31, 2021Mar. 31, 2020
Income Statement [Abstract]
Net Assets - beginning of the period $ 22,248 $ 7,693 $ 8,845 $ 3,655
Creation of 1,500,000, 600,000, 2,650,000 and 950,000 shares respectively17,658 5,566 28,668 8,619
Redemption of 0, 400,000, 150,000 and 400,000 shares respectively (3,004)(1,344)(3,004)
Net investment loss(41)(12)(78)(27)
Net realized gain (loss) platinum bullion sold to pay expenses4 [1]3 (1)[1]
Net realized gain (loss) from platinum bullion distributed for redemption [1](719)(23)(719)
Net Change in unrealized appreciation (depreciation) on investment in platinum bullion2,015 (2,333)5,813 (1,332)
Net Assets - end of period $ 41,884 $ 7,191 $ 41,884 $ 7,191
[1]Amounts do not round to $1.

Statements of Changes in Net _2

Statements of Changes in Net Assets (Parenthetical) - shares3 Months Ended9 Months Ended
Mar. 31, 2021Mar. 31, 2020Mar. 31, 2021Mar. 31, 2020
Income Statement [Abstract]
Creations, shares1,500,000 600,000 2,650,000 950,000
Redemptions, shares0 400,000 150,000 400,000

Financial Highlights (Unaudited

Financial Highlights (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2021Mar. 31, 2020Mar. 31, 2021Mar. 31, 2020
Schedule of investment In gold
Net asset value per Share at beginning of period $ 10.59 $ 9.62 $ 8.04 $ 8.12
Net investment (loss)(.01)[1](.01)[1](0.04)[1](0.03)
Net realized and unrealized gain (loss) on investment in platinum1.05(2.42)3.63(0.90)
Net change in net assets from operations1.04(2.43)3.59(0.93)
Net asset value per Share at end of period $ 11.63 $ 7.19 $ 11.63 $ 7.19
Total return, at net asset value[2]9.82%(25.26%)44.65%(11.45%)
Net assets $ 41,884 $ 7,191 $ 41,884 $ 7,191
Net investment loss[3](0.50%)(0.50%)(0.50%)(0.50%)
Expenses[3]0.50%0.50%0.50%0.50%
[1]Calculated using the average shares outstanding method.
[2]Percentage not annualized.
[3]Percentage annualized.

Organization

Organization9 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization1. 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. On March 11, 2019, the Trust announced a 10-for-1
Share split for all shareholders of record as of March 21, 2019. The ticker symbol for the Trust did not change, and the Trust continues
to trade on the NYSE Arca. The split was applied retroactively for all periods presented, increasing the number of Shares outstanding
for the Trust, and resulted in a proportionate decrease in the price per Share and per Share information of the Trust. Therefore, the
split did not change the aggregate net asset value of a shareholder’s investment at the time of the split. 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.

Significant Accounting Policies

Significant Accounting Policies9 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies2. 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 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 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. The cost of platinum is determined according
to the average cost method and the fair value is based on the London Bullion Market Association (“LBMA”) Platinum Price PM. 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 Trustee categorizes the Trust’s investment
in platinum as a level 1 asset within the ASC 820 hierarchy. 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% of the adjusted daily net asset value
of the Trust, paid monthly in arrears. 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. As of March 31, 2021, the fees payable to the Sponsor
were $17,707. As of June 30, 2020, the fees payable to the Sponsor were $3,601. 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 the three and nine months ended March 31, 2021 and 2020. 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 Shares (a block of 50,000 Shares is called a “Basket”) only to Authorized Participants. The creation and redemption
of Baskets will only be made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of platinum represented
by the Baskets being created or redeemed, the amount of which will be based on the combined ounces represented by the number of shares
included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received. 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 will be assessed on all creation and redemption transactions.
Multiple Baskets may be created on the same day, provided each Basket meets the requirements described below and that the Custodian is
able to allocate platinum to the Trust Allocated Account such that the Trust Unallocated Account holds no more than 192 ounces of platinum
at the close of a business day. 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
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 reserves for uncertain tax positions are
required as of March 31, 2021 and June 30, 2020. 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 March 31, 2021, the 2020, 2019 and 2018 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 Platinum9 Months Ended
Mar. 31, 2021
Schedule of Investments [Abstract]
Investment in Platinum3. Investment in platinum Changes in ounces of platinum and their respective
values for the nine months ended March 31, 2021.
Amounts in 000’s of US$, except for ounces data Ounces Fair Value
Opening balance as of June 30, 2020 10,871.136 8,849
Platinum contributed 26,121.071 28,668
Platinum distributed (1,542.608 ) (1,428 )
Change in unrealized appreciation – 5,813
Ending balance as of March 31, 2021 35,449.599 41,902 Changes in ounces of platinum and their respective
values for the fiscal year ended June 30, 2020.
Amounts in 000’s of US$, except for ounces data Ounces Fair Value
Opening balance as of June 30, 2019 4,469.435 3,656
Platinum contributed 10,893.552 9,814
Platinum distributed (4,491.851 ) (4,219 )
Change in unrealized depreciation – (402 )
Ending balance as of June 30, 2020 10,871.136 8,849

Related Parties - Sponsor and T

Related Parties - Sponsor and Trustee9 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]
Related Parties - Sponsor and Trustee4. 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 per annum in legal fees and expenses. The Sponsor’s fee is payable at an annualized rate of 0.50% of the Trust’s
Net Asset Value, accrued on a daily basis computed on the prior Business Day’s Net Asset Value and paid monthly in arrears. 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 Risk9 Months Ended
Mar. 31, 2021
Risks and Uncertainties [Abstract]
Concentration of Risk5. Concentration of risk In accordance with Statement of Position No. 94-6,
Disclosure of Certain Significant Risks and Uncertainties, 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

Indemnification9 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Indemnification6. 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 Events9 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events7. 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.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)9 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Valuation of Platinum2.1 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. The cost of platinum is determined according
to the average cost method and the fair value is based on the London Bullion Market Association (“LBMA”) Platinum Price PM. 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 Trustee categorizes the Trust’s investment
in platinum as a level 1 asset within the ASC 820 hierarchy.
Expenses, Realized Gains and Losses2.2 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% of the adjusted daily net asset value
of the Trust, paid monthly in arrears. 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. As of March 31, 2021, the fees payable to the Sponsor
were $17,707. As of June 30, 2020, the fees payable to the Sponsor were $3,601. 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 the three and nine months ended March 31, 2021 and 2020. 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 Payable2.3 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 Shares2.4 Creations and Redemptions of Shares The Trust issues and redeems in one or more blocks
of 50,000 Shares (a block of 50,000 Shares is called a “Basket”) only to Authorized Participants. The creation and redemption
of Baskets will only be made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of platinum represented
by the Baskets being created or redeemed, the amount of which will be based on the combined ounces represented by the number of shares
included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received. 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 will be assessed on all creation and redemption transactions.
Multiple Baskets may be created on the same day, provided each Basket meets the requirements described below and that the Custodian is
able to allocate platinum to the Trust Allocated Account such that the Trust Unallocated Account holds no more than 192 ounces of platinum
at the close of a business day. 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 Taxes2.5 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
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 reserves for uncertain tax positions are
required as of March 31, 2021 and June 30, 2020. 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 March 31, 2021, the 2020, 2019 and 2018 tax years remain open for examination.
Emerging Growth Company Qualification2.6 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 (Tables)

Investment in Platinum (Tables)9 Months Ended
Mar. 31, 2021
Schedule of Investments [Abstract]
Schedule of Investment in PlatinumChanges in ounces of platinum and their respective
values for the nine months ended March 31, 2021.
Amounts in 000’s of US$, except for ounces data Ounces Fair Value
Opening balance as of June 30, 2020 10,871.136 8,849
Platinum contributed 26,121.071 28,668
Platinum distributed (1,542.608 ) (1,428 )
Change in unrealized appreciation – 5,813
Ending balance as of March 31, 2021 35,449.599 41,902 Changes in ounces of platinum and their respective
values for the fiscal year ended June 30, 2020.
Amounts in 000’s of US$, except for ounces data Ounces Fair Value
Opening balance as of June 30, 2019 4,469.435 3,656
Platinum contributed 10,893.552 9,814
Platinum distributed (4,491.851 ) (4,219 )
Change in unrealized depreciation – (402 )
Ending balance as of June 30, 2020 10,871.136 8,849

Organization (Details Narrative

Organization (Details Narrative)Mar. 11, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Share split for shareholders10-for-1 Share split

Significant Accounting Polici_3

Significant Accounting Policies (Details Narrative)9 Months Ended
Mar. 31, 2021USD ($)ozsharesJun. 30, 2020USD ($)
Accounting Policies [Abstract]
Fee paid to sponsor, annualized rate0.50%
Fees payable to sponsor, value $ 18,000 $ 4,000
Minimum block of shares issued redeemed | shares50,000
Transaction fee for creations and redemptions $ 500
Maximum amount of platinum to be held by trust unallocated account | oz192
Open tax year for examinationAs of March 31, 2021, the 2020, 2019 and 2018 tax years remain open for examination.

Investment in Platinum - Schedu

Investment in Platinum - Schedule of Investment in Platinum (Details) $ in Thousands9 Months Ended12 Months Ended
Mar. 31, 2021USD ($)ozJun. 30, 2020USD ($)oz
Schedule of Investments [Abstract]
Opening balance (in Ounces) | oz10,871.136 4,469.435
Platinum contributed (in Ounces) | oz26,121.071 10,893.552
Platinum distributed (in Ounces) | oz(1,542.608)(4,491.851)
Change in unrealized appreciation (in Ounces) | oz
Ending balance (in Ounces) | oz35,449.599 10,871.136
Investment in platinum, fair value, opening balance | $ $ 8,849 [1] $ 3,656
Platinum contributed | $28,668 9,814
Platinum distributed | $(1,428)(4,219)
Change in unrealized depreciation | $5,813 (402)
Investment in platinum, fair value, ending balance | $[1] $ 41,902 $ 8,849
[1]Cost of investment in platinum: $37,215 and $9,975, respectively.

Related Parties - Sponsor and_2

Related Parties - Sponsor and Trustee (Details Narrative) $ in Thousands9 Months Ended
Mar. 31, 2021USD ($)
Fee paid to sponsor percentage0.50%
Maximum [Member]
Audit fees and expenses $ 100,000