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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 14, 2024 (August 8, 2024)

 

ABRDN PALLADIUM ETF TRUST

(Exact name of registrant as specified in its charter)

 

 

New York   001-34589 26-4733157
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

 

c/o abrdn ETFs Sponsor LLC

1900 Market Street, Suite 200

Philadelphia, PA

   19103
(Address of Principal Executive Offices)   (Zip Code)

 

(844) 383-7289
(Registrant’s telephone number, including area code)

 

N/A
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

 Name of each exchange on which registered
abrdn Physical Palladium Shares ETF PALL NYSE Arca

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR § 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR § 240.12b-2).

 

Emerging growth company  ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

 
 

 

Item 1.02 Termination of a Material Definitive Agreement.

 

Termination of Allocated and Unallocated Account Agreements with Prior Custodian

 

Effective August 8, 2024, JPMorgan Chase Bank N.A. (“JPMorgan” or the “Former Custodian”) no longer serves as a custodian of the Trust’s palladium.

 

Pursuant to the notice of termination of the allocated and unallocated account agreements with the Former Custodian (the “Former Custody Agreements”) delivered to the Former Custodian, the termination became effective on August 8, 2024, which was the date on which all palladium held in the allocated and unallocated accounts governed by the Former Custody Agreements had transferred to the allocated and unallocated accounts governed by the allocated and unallocated account agreements with ICBC Standard Bank Plc (the “New Custodian”). Accordingly, custody of all of the Trust’s palladium is now pursuant to the allocated and unallocated account agreements with the New Custodian.

No cost or expense was, or will be, incurred by the Trust or the holders of the abrdn Physical Palladium Shares ETF in connection with the termination of the Former Custody Agreements.

 

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ABRDN PALLADIUM ETF TRUST
   
  By: abrdn ETFs Sponsor LLC,
  Sponsor of the abrdn Palladium ETF Trust
   
Date:  August 14, 2024 By: /s/Brian Kordeck
    Brian Kordeck
    Chief Financial Officer and Treasurer*

  

 

* The Registrant is a trust and Mr. Kordeck is signing in his capacities as officer of abrdn ETFs Sponsor LLC, the Sponsor of the Registrant.

 

 

 

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Cover
Aug. 08, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 08, 2024
Entity File Number 001-34589
Entity Registrant Name ABRDN PALLADIUM ETF TRUST
Entity Central Index Key 0001459862
Entity Tax Identification Number 26-4733157
Entity Incorporation, State or Country Code NY
Entity Address, Address Line One c/o abrdn ETFs Sponsor LLC
Entity Address, Address Line Two 1900 Market Street
Entity Address, Address Line Three Suite 200
Entity Address, City or Town Philadelphia
Entity Address, State or Province PA
Entity Address, Postal Zip Code 19103
City Area Code (844)
Local Phone Number 383-7289
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security abrdn Physical Palladium Shares ETF
Trading Symbol PALL
Security Exchange Name NYSEArca
Entity Emerging Growth Company false
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