iShares Gold Trust Micro

iShares Gold Trust Micro is a grantor trust that holds allocated physical gold in secure vaults and offers fractional ownership interests to investors through shares traded on securities exchanges. The Trust provides retail and institutional investors with a cost-efficient and convenient way to gain exposure to gold prices without the expense and complexity of direct physical ownership, such as storage and insurance. The Trust's primary revenue comes from a small sponsor fee charged as a percentage of assets under management, while actual physical gold holdings are managed by professional custodians and can only be created or redeemed through authorized broker-dealers using a basket mechanism tied to underlying gold prices.