Summary
The iShares Gold Trust (IAU) reported strong performance for the nine months ended September 30, 2025, with net assets increasing significantly by 79.49% from $32.96 billion to $59.15 billion. This growth was primarily driven by a substantial increase in the price of gold, which rose 46.52% during the period, coupled with a notable increase in outstanding shares as investors created new units in the Trust. The Trust's Net Asset Value (NAV) per Share experienced a robust gain, moving from $49.29 at the beginning of the period to $72.08 by September 30, 2025. This growth in NAV closely tracked the appreciation of gold prices, with only a minor reduction due to the Trust's sponsor fees. The primary driver of the Trust's performance remains its direct holding of gold bullion, which experienced significant unrealized appreciation. Significant share creation activity by Authorized Participants also contributed to the Trust's asset growth.
Financial Highlights
6 data points| Operating Expenses | $31.81M |
| Operating Income | -$31.81M |
| Net Income | $7.94B |
| EPS (Basic) | $10.23 |
Key Highlights
- 1Net assets of the iShares Gold Trust (IAU) surged by 79.49% to $59.15 billion as of September 30, 2025, up from $32.96 billion at the end of 2024.
- 2The Net Asset Value (NAV) per Share increased by 46.24% from $49.29 to $72.08 for the nine months ended September 30, 2025.
- 3This performance was largely attributed to a 46.52% increase in the price of gold bullion during the period.
- 4The Trust saw substantial share creation, with 189.9 million new Shares issued and 37.9 million Shares redeemed, resulting in a net increase of 152 million Shares outstanding.
- 5For the nine months ended September 30, 2025, the Trust reported a net increase in net assets from operations of $16.81 billion, driven by $15.89 billion in unrealized appreciation of gold bullion.
- 6Sponsor's fees remained consistent at an annualized rate of 0.25% of net asset value, totaling $83.2 million for the nine-month period.