Franklin Templeton Holdings Trust

Franklin Templeton Holdings Trust is a Delaware statutory trust that exists to issue shares of a single exchange-traded fund, the Franklin Responsibly Sourced Gold ETF (FGDL). The fund is designed to track the price of gold bullion, less expenses, and holds only gold bullion and cash, with gold custody, administration, and marketing handled by affiliated and third-party service providers.

— Franklin Templeton Holdings Trust
%
Exchange-traded gold fund100% A single ETF series that seeks to reflect the price of gold bullion net of expenses.
Physical bullion custody0% Allocated gold bullion held with a custodian and managed through vaulting arrangements.
ETF creation/redemption mechanism0% Primary market share issuance and redemption through Authorized Participants.

The Trust’s end investors are market participants seeking gold exposure in ETF form, including retail and institutional...

  • Retail ETF investorsprimary

    Buy FGDL shares on NYSE Arca to gain liquid exposure to gold prices without storing bullion.

  • Institutional asset allocatorsprimary

    Use the ETF as a portfolio hedge, inflation-sensitive allocation, or tactical gold position.

  • Authorized Participantsprimary

    Create and redeem shares in the primary market to keep ETF trading aligned with NAV.

  • Broker-dealers and market makerssecondary

    Support trading, liquidity, and client access to the ETF in the secondary market.

The Trust is organized in Delaware and listed in the United States on NYSE Arca, so the business is centered in the U.S...

  • •U.S.-domiciled Delaware statutory trust
  • •Listed on NYSE Arca under ticker FGDL
  • •Gold custody handled through JPMorgan's London branch
  • •Administration and transfer agency performed by BNY Mellon
  • •Bullion market exposure is global even though the fund is U.S.-listed

The Trust’s strategy is straightforward: maintain a single-purpose vehicle that tracks gold bullion while emphasizing...

01
Maintain responsible gold sourcingshort-term

The fund differentiates itself by holding post-2012 gold refined under LBMA Responsible Gold Guidance.

02
Preserve tracking of gold bullion pricesmedium-term

Investor demand depends on the ETF closely reflecting bullion performance net of expenses.

03
Maintain operational continuity with service providersshort-term

The trust depends on custodians, administrator, trustee, and marketing agent for core functions.

The Trust is exposed to bullion price volatility, custody risk, and operational dependence on third-party service...

critical

Custody and safekeeping failure

Essentially all bullion is held by the custodian, so any failure in safekeeping could result in a direct loss to the fund.

Scope
Allocated gold bullion
Materiality
high
high

Gold price volatility

The fund is designed to track bullion prices, so changes in gold prices flow directly into NAV and share performance.

Scope
Fund value and investor returns
Materiality
high
high

Operational and technology disruption

The trust depends on electronic recordkeeping, communications, and third-party processes to operate efficiently.

Scope
Trading, administration, and settlement
Materiality
medium
medium

Authorized Participant liquidity dependence

Only Authorized Participants can create and redeem shares directly, so liquidity can be affected if AP activity weakens.

Scope
Primary market liquidity and spread behavior
Materiality
medium
Fair value measurement of gold bullion
Directly affects NAV and results of operations
Expense accruals
Affects net asset value and reported performance
Custody and audit procedures
Affects confidence in reported bullion holdings

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: 28/04/2026