SEC Comment Letter 0000000000-23-010963 to VanEck Merk Gold Trust (OUNZ) (CIK 0001546652) (OUNZ)
VanEck Merk Gold Trust (OUNZ) (CIK 0001546652)
Date: Oct. 5, 2023 · CIK: 0001546652 · Accession: 0000000000-23-010963
AI Filing Summary & Sentiment
File numbers found in text: 333-274643
Letter
United States securities and exchange commission logo October 5, 2023 Axel Merk President and Chief Investment Officer VanEck Merk Gold Trust c/o Merk Investments LLC 1150 Chestnut Street Menlo Park, CA 94025 Re:VanEck Merk Gold Trust Registration Statement on Form S-3 Filed September 22, 2023 File No. 333-274643 Dear Axel Merk: We have limited our review of your registration statement to those issues we have addressed in our comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Registration Statement on Form S-3 General 1.We note your disclosure that "the Solactive Index calculates gold bullion fixing prices by taking Time Weighted Average Prices...of XAU trading prices..." Please revise your disclosure to more clearly discuss the difference in calculating the reference rate using the Solactive Index from the reference index previously used and how it may impact your Net Asset Value. In addition, discuss whether there are any material differences between the gold trading prices on the London Bullion Market Association and the Solactive Index. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
FirstName LastNameAxel Merk Comapany NameVanEck Merk Gold Trust October 5, 2023 Page 2 FirstName LastName Axel Merk VanEck Merk Gold Trust October 5, 2023 Page 2 action by the staff. Refer to Rules 460 and 461 regarding requests for acceleration. Please allow adequate time for us to review any amendment prior to the requested effective date of the registration statement. Please contact Lulu Cheng at 202-551-3811 or Sandra Hunter Berkheimer at 202-551- 3758 with any other questions. Sincerely, Division of Corporation Finance Office of Crypto Assets cc: Peter Shea
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United States securities and exchange commission logo
October 5, 2023
Axel Merk
President and Chief Investment Officer
VanEck Merk Gold Trust
c/o Merk Investments LLC
1150 Chestnut Street
Menlo Park, CA 94025
Re:VanEck Merk Gold Trust
Registration Statement on Form S-3
Filed September 22, 2023
File No. 333-274643
Dear Axel Merk:
We have limited our review of your registration statement to those issues we have
addressed in our comments. In some of our comments, we may ask you to provide us with
information so we may better understand your disclosure.
Please respond to this letter by amending your registration statement and providing the
requested information. If you do not believe our comments apply to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why in your
response.
After reviewing any amendment to your registration statement and the information you
provide in response to these comments, we may have additional comments.
Registration Statement on Form S-3
General
1.We note your disclosure that "the Solactive Index calculates gold bullion fixing prices by
taking Time Weighted Average Prices...of XAU trading prices..." Please revise your
disclosure to more clearly discuss the difference in calculating the reference rate using the
Solactive Index from the reference index previously used and how it may impact your Net
Asset Value. In addition, discuss whether there are any material differences between the
gold trading prices on the London Bullion Market Association and the Solactive Index.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
FirstName LastNameAxel Merk
Comapany NameVanEck Merk Gold Trust
October 5, 2023 Page 2
FirstName LastName
Axel Merk
VanEck Merk Gold Trust
October 5, 2023
Page 2
action by the staff.
Refer to Rules 460 and 461 regarding requests for acceleration. Please allow adequate
time for us to review any amendment prior to the requested effective date of the registration
statement.
Please contact Lulu Cheng at 202-551-3811 or Sandra Hunter Berkheimer at 202-551-
3758 with any other questions.
Sincerely,
Division of Corporation Finance
Office of Crypto Assets
cc: Peter Shea