Summary
This Form 8-K filing by iShares Gold Trust (IAU) on September 2, 2010, primarily details administrative and structural updates to the trust. The most significant event is the execution of a Second Amended and Restated Depositary Trust Agreement. This agreement consolidates previous amendments, officially changes the trust's name to iShares Gold Trust (from iShares COMEX Gold Trust), and importantly, grants the Sponsor the authority to designate the pricing source for the trust's gold holdings after October 4, 2010. Furthermore, an Amended and Restated Custodian Agreement was put in place with JPMorgan Chase Bank N.A., London branch. This agreement formalizes the arrangements for the custody of the trust's gold and ensures that, on a daily basis, all gold held for the trust will be allocated to the registrant's account, preventing any gold from being held in an unallocated form. These changes are largely administrative but aim to enhance clarity and operational efficiency for the trust.
Key Highlights
- 1The iShares Gold Trust (IAU) officially changed its name from iShares COMEX Gold Trust.
- 2A Second Amended and Restated Depositary Trust Agreement was executed, consolidating prior amendments.
- 3The Sponsor, BlackRock Asset Management International Inc., gained the authority to designate the price source for gold valuation after October 4, 2010.
- 4An Amended and Restated Custodian Agreement was entered into with JPMorgan Chase Bank N.A., London branch.
- 5The Custodian Agreement ensures that gold held for the trust will be allocated daily, avoiding unallocated gold holdings.
- 6These updates are primarily administrative and operational in nature.