Authorized Participant Agreement Sample Contracts

Global Currency Gold Trust – Form of World Gold Trust Authorized Participant Agreement (May 4th, 2018)

This Authorized Participant Agreement (Agreement), dated as of , is entered into by and between (the Authorized Participant), WGC USA Asset Management Company, LLC, as sponsor (the Sponsor) of the World Gold Trust (the Trust) and each series of the Trust listed on Annex A hereto (each, a Fund and together, the Funds), and BNY Mellon Asset Servicing, a division of The Bank of New York Mellon (the Administrator), as administrator of the Trust and each Fund.

Perth Mint Physical Gold ETF – Authorized Participant Agreement (April 20th, 2018)

STANDARD TERMS FOR AUTHORIZED PARTICIPANT AGREEMENTS (the "Standard Terms") agreed to as of [*], 2018 by and between The Bank of New York Mellon, a New York banking corporation, as trustee for the Perth Mint Physical Gold ETF (the "Trustee"), and Exchange Traded Concepts LLC, an Oklahoma limited liability company, as administrative sponsor for the Perth Mint Physical Gold ETF (the "Administrative Sponsor").

Metaurus Equity Component Trust – Metaurus Equity Component Trust Authorized Participant Agreement (December 18th, 2017)

This Authorized Participant Agreement (this Agreement) is entered into as of this day of 20 (the Effective Date), by and between (the Participant), Metaurus Advisors LLC (the Sponsor) and SEI Investments Distribution Co. (the Distributor), and is subject to acceptance by (the Transfer Agent), solely in its capacity as transfer agent of the Trust.

ETFS Gold Trust – Authorized Participant Agreement (November 6th, 2017)

AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Trust(s) listed on the attached Schedule A, which is a part of this Agreement (each a "Trust" and collectively, the "Trusts"), each Trust created under New York law pursuant to its respective Depositary Trust Agreement identified on the attached Schedule A (each a "Trust Agreement" and collectively, the "Trust Agreements"), and (iii) ETF Securities USA LLC, in its capacity as sponsor of each Trust (in such capacity, the "Sponsor").

Etfs Palladium Trust – Authorized Participant Agreement (November 6th, 2017)

AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Trust(s) listed on the attached Schedule A, which is a part of this Agreement (each a "Trust" and collectively, the "Trusts"), each Trust created under New York law pursuant to its respective Depositary Trust Agreement identified on the attached Schedule A (each a "Trust Agreement" and collectively, the "Trust Agreements"), and (iii) ETF Securities USA LLC, in its capacity as sponsor of each Trust (in such capacity, the "Sponsor").

ETFS Precious Metals Basket Trust – Authorized Participant Agreement (November 6th, 2017)

AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Trust(s) listed on the attached Schedule A, which is a part of this Agreement (each a "Trust" and collectively, the "Trusts"), each Trust created under New York law pursuant to its respective Depositary Trust Agreement identified on the attached Schedule A (each a "Trust Agreement" and collectively, the "Trust Agreements"), and (iii) ETF Securities USA LLC, in its capacity as sponsor of each Trust (in such capacity, the "Sponsor").

Etfs Silver Trust – Authorized Participant Agreement (November 6th, 2017)

AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Trust(s) listed on the attached Schedule A, which is a part of this Agreement (each a "Trust" and collectively, the "Trusts"), each Trust created under New York law pursuant to its respective Depositary Trust Agreement identified on the attached Schedule A (each a "Trust Agreement" and collectively, the "Trust Agreements"), and (iii) ETF Securities USA LLC, in its capacity as sponsor of each Trust (in such capacity, the "Sponsor").

ETFS Platinum Trust – Authorized Participant Agreement (November 6th, 2017)

AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Trust(s) listed on the attached Schedule A, which is a part of this Agreement (each a "Trust" and collectively, the "Trusts"), each Trust created under New York law pursuant to its respective Depositary Trust Agreement identified on the attached Schedule A (each a "Trust Agreement" and collectively, the "Trust Agreements"), and (iii) ETF Securities USA LLC, in its capacity as sponsor of each Trust (in such capacity, the "Sponsor").

GraniteShares Platinum Trust – Authorized Participant Agreement (November 3rd, 2017)

This AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of _____________, 2017, by and among (i) [Name of Authorized Participant], a [AP Entity Type] organized under the laws of [Jurisdiction of AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Trust(s) listed on the attached Schedule A, which is a part of this Agreement, (each, a "Trust" and, collectively, the "Trusts"), with each Trust created under New York law pursuant to its respective Depositary Trust Agreement identified on the attached Schedule A (each a "Trust Agreement" and, collectively, the "Trust Agreements"), and (iii) GraniteShares LLC, in its capacity as sponsor of each Trust (in such capacity, the "Sponsor").

GraniteShares Platinum Trust – Authorized Participant Agreement (September 8th, 2017)

This AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of _____________, 2017, by and among (i) [Name of Authorized Participant], a [AP Entity Type] organized under the laws of [Jurisdiction of AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Trust(s) listed on the attached Schedule A, which is a part of this Agreement, (each, a "Trust" and, collectively, the "Trusts"), with each Trust created under New York law pursuant to its respective Depositary Trust Agreement identified on the attached Schedule A (each a "Trust Agreement" and, collectively, the "Trust Agreements"), and (iii) GraniteShares LLC, in its capacity as sponsor of each Trust (in such capacity, the "Sponsor").

GraniteShares Gold Trust – Authorized Participant Agreement (July 17th, 2017)

This AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of _____________, 2017, by and among (i) [Name of Authorized Participant], a [AP Entity Type] organized under the laws of [Jurisdiction of AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Trust(s) listed on the attached Schedule A, which is a part of this Agreement, (each, a "Trust" and, collectively, the "Trusts"), with each Trust created under New York law pursuant to its respective Depositary Trust Agreement identified on the attached Schedule A (each a "Trust Agreement" and, collectively, the "Trust Agreements"), and (iii) GraniteShares LLC, in its capacity as sponsor of each Trust (in such capacity, the "Sponsor").

USCF Funds Trust – USCF Funds Trust AUTHORIZED PARTICIPANT AGREEMENT (June 27th, 2017)

This Authorized Participant Agreement (the "Agreement"), dated as of _________________, is entered into by and among United States Commodity Funds LLC, a Delaware limited liability company (the "Sponsor"), the USCF Funds Trust, a Delaware statutory trust (the "Trust"), on its own behalf and on behalf of each series established and designated by the Trust as a fund and listed on Annex A (each, a "Fund"), and [ ], (the "Authorized Participant").

USCF Funds Trust – USCF Funds Trust AUTHORIZED PARTICIPANT AGREEMENT (June 27th, 2017)

This Authorized Participant Agreement (the "Agreement"), dated as of _________________, is entered into by and among United States Commodity Funds LLC, a Delaware limited liability company (the "Sponsor"), the USCF Funds Trust, a Delaware statutory trust (the "Trust"), on its own behalf and on behalf of each series established and designated by the Trust as a fund and listed on Annex A (each, a "Fund"), and [ ], (the "Authorized Participant").

Bitcoin Investment Trust – Authorized Participant Agreement (March 24th, 2017)

AUTHORIZED PARTICIPANT AGREEMENT (this Agreement) dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AUTHORIZED PARTICIPANT] (the Authorized Participant), (ii) Grayscale Investments LLC, in its capacity as sponsor of the Bitcoin Investment Trust (the Trust) (the Sponsor) and (iii) [LIQUIDITY PROVIDER], a [company] organized under the laws of [JURISDICTION OF AUTHORIZED PARTICIPANT] (the Liquidity Provider), subject to acceptance by (iv) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as administrator (the Administrator) of the Trust, created under Delaware law pursuant to a Trust Agreement between the Delaware Trust Company acting in its capacity as Trustee (the Trustee) and the Sponsor, as defined herein, dated September 13, 2013, as amended and as it may be further amended from time to time (the Trust Agreement).

SolidX Bitcoin Trust – Form of Solidx Bitcoin Trust Authorized Participant Agreement (February 3rd, 2017)

This SolidX Bitcoin Trust Authorized Participant Agreement (the Agreement), dated as of , 2017, is entered into by and among SolidX Bitcoin Trust (the Trust), SolidX Management LLC, a Delaware limited liability company and the sponsor of the Trust (the Sponsor), on behalf of itself and as sponsor of the Trust, and , a Delaware limited liability company (the Authorized Participant), and is subject to acceptance by The Bank of New York Mellon (BNY Mellon or Transfer Agent).

Global Currency Gold Trust – Form of World Currency Gold Trust Authorized Participant Agreement (January 9th, 2017)

This Authorized Participant Agreement (Agreement), dated as of , is entered into by and between (the Authorized Participant), WGC USA Asset Management Company, LLC, as sponsor (the Sponsor) of the World Currency Gold Trust (the Trust), and BNY Mellon Asset Servicing, a division of The Bank of New York Mellon (the Administrator), as administrator of the Trust.

Ishares Silver Trust – iShares(r) Silver Trust Standard Terms for Authorized Participant Agreements Dated as of December 22, 2016 (December 22nd, 2016)

STANDARD TERMS FOR AUTHORIZED PARTICIPANT AGREEMENTS (the "Standard Terms") agreed to as of December 22, 2016 by and between The Bank of New York Mellon, a New York banking corporation, and iShares Delaware Trust Sponsor LLC, a Delaware limited liability company.

Ishares Gold Trust – iShares(r) Gold Trust Standard Terms for Authorized Participant Agreements Dated as of December 22, 2016 (December 22nd, 2016)

STANDARD TERMS FOR AUTHORIZED PARTICIPANT AGREEMENTS (the "Standard Terms") agreed to as of December 22, 2016, by and between The Bank of New York Mellon, a New York banking corporation, and iShares Delaware Trust Sponsor LLC, a Delaware limited liability company.

Bitcoin Investment Trust – Authorized Participant Agreement (November 2nd, 2016)

AUTHORIZED PARTICIPANT AGREEMENT (this Agreement) dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AP] (the Authorized Participant), and (ii) Grayscale Investments LLC, in its capacity as sponsor of the Trust (as defined below) (in such capacity, the Sponsor), subject to acceptance by (iii) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as administrator (in such capacity, the Administrator) of the Bitcoin Investment Trust (the Trust), created under Delaware law pursuant to a Trust Agreement between the [Trustee] and the Sponsor, as defined herein, dated September 13, 2013, as it may be amended from time to time (the Trust Agreement).

Global Currency Gold Trust – Form of World Currency Gold Trust Authorized Participant Agreement (August 30th, 2016)

This Authorized Participant Agreement (Agreement), dated as of , is entered into by and between (the Authorized Participant), WGC USA Asset Management Company, LLC, as sponsor (the Sponsor) of the World Currency Gold Trust (the Trust), and BNY Mellon Asset Servicing, a division of The Bank of New York Mellon (the Administrator), as administrator of the Trust.

United States Heating Oil Fd – Form of United States Diesel-Heating Oil Fund, Lp Authorized Participant Agreement (March 31st, 2016)

This United States Diesel-Heating Oil Fund, LP Authorized Participant Agreement (the "Agreement"), dated as of [ DATE], 2016, is entered into by and among United States Diesel-Heating Oil Fund, LP (the "Fund"), United States Commodity Funds LLC, a Delaware limited liability company and the general partner of the Fund (the "General Partner"), on behalf of itself and as General Partner of United States Diesel-Heating Oil Fund, LP, and [Insert name of Authorized Participant and type of company (Corporation, LLC, Inc., LLP)], a [state of incorporation/formation] (the "Authorized Participant").

United States Brent Oil Fund, LP – Form of United States Brent Oil Fund, Lp Authorized Participant Agreement (March 31st, 2016)

This United States Brent Oil Fund, LP Authorized Participant Agreement (the "Agreement"), dated as of [ DATE], 2016, is entered into by and among United States Brent Oil Fund, LP (the "Fund"), United States Commodity Funds LLC, a Delaware limited liability company and the general partner of the Fund (the "General Partner"), on behalf of itself and as General Partner of United States Brent Oil Fund, LP, and [Insert name of Authorized Participant and type of company (Corporation, LLC, Inc., LLP)], a [state of incorporation/formation] (the "Authorized Participant").

United States 12 Month Natural Gas Fund, LP – Form of United States 12 Month Natural Gas Fund, Lp Authorized Participant Agreement (March 21st, 2016)

This United States 12 Month Natural Gas Fund, LP Authorized Participant Agreement (the "Agreement"), dated as of [ DATE], 2016, is entered into by and among United States 12 Month Natural Gas Fund, LP (the "Fund"), United States Commodity Funds LLC, a Delaware limited liability company and the general partner of the Fund (the "General Partner"), on behalf of itself and as General Partner of United States 12 Month Natural Gas Fund, LP, and [Insert name of Authorized Participant and type of company (Corporation, LLC, Inc., LLP)], a [state of incorporation/formation] (the "Authorized Participant").

United States Short Oil Fund – Form of United States Short Oil Fund, Lp Authorized Participant Agreement (March 21st, 2016)

This United States Short Oil Fund, LP Authorized Participant Agreement (the "Agreement"), dated as of [ DATE], 2016, is entered into by and among United States Short Oil Fund, LP (the "Fund"), United States Commodity Funds LLC, a Delaware limited liability company and the general partner of the Fund (the "General Partner"), on behalf of itself and as General Partner of United States Short Oil Fund, LP, and [Insert name of Authorized Participant and type of company (Corporation, LLC, Inc., LLP)], a [state of incorporation/formation] (the "Authorized Participant").

United States Oil Fund Lp – Form of United States Oil Fund, Lp Authorized Participant Agreement (February 3rd, 2016)

This United States Oil Fund, LP Authorized Participant Agreement (the "Agreement"), dated as of [ DATE], 2016, is entered into by and among United States Oil Fund, LP (the "Fund"), United States Commodity Funds LLC, a Delaware limited liability company and the general partner of the Fund (the "General Partner"), on behalf of itself and as General Partner of United States Oil Fund, LP, and [Insert name of Authorized Participant and type of company (Corporation, LLC, Inc., LLP)], a [state of incorporation/formation] (the "Authorized Participant").

Managed Emerging Markets Trust – Form of Authorized Participant Agreement (August 18th, 2015)
ETF Managers Group Commodity Trust I – Authorized Participant Agreement (January 28th, 2015)

This Participant Agreement (the "Agreement"), dated as of January ___, 2015, is entered into by and among ___________________ (the "Authorized Participant"), ETF Managers Group Commodity Trust I, a Delaware statutory trust (the "Trust") organized into separate series as set forth on Schedule A attached hereto (each a "Fund" and collectively, the "Funds"), and ETF Managers Capital LLC, a Delaware limited liability company, as managing owner of the Trust (the "Managing Owner").

GreenHaven Coal Fund – Form of Authorized Participant Agreement for Greenhaven Coal Fund (January 21st, 2015)

This Authorized Participant Agreement for GreenHaven Coal Fund (this "Agreement") is entered into by and among GreenHaven Coal Fund (the "Fund"), GreenHaven Coal Services, LLC (the "Sponsor"), ALPS Distributors, Inc. (the "Distributor") and __________ (the "Authorized Participant" and together with the Fund, the Sponsor and the Distributor, the "Parties"), and is subject to acceptance by The Bank of New York (the "Transfer Agent"). The Transfer Agent serves as an agent for the Fund and is an "Index Receipt Agent" as that term is defined in the rules of the National Securities Clearing Corporation ("NSCC").

ETF Managers Group Commodity Trust I – Authorized Participant Agreement (November 26th, 2014)

This Participant Agreement (the "Agreement"), dated as of December ___, 2014, is entered into by and among ___________________ (the "Authorized Participant"), ETF Managers Group Commodity Trust I, a Delaware statutory trust (the "Trust") organized into separate series as set forth on Schedule A attached hereto (each a "Fund" and collectively, the "Funds"), and ETF Managers Capital LLC, a Delaware limited liability company, as managing owner of the Trust (the "Managing Owner").

iSHARES COMMODITY OPTIMIZED TRUST – Authorized Participant Agreement (April 2nd, 2014)
Van Eck Merk Gold Trust – Authorized Participant Agreement (March 20th, 2014)

AUTHORIZED PARTICIPANT AGREEMENT (this "Agreement") dated as of [DATE] among (i) [AUTHORIZED PARTICIPANT], a [company] organized under the laws of [JURISDICTION OF AP] (the "Authorized Participant"), (ii) The Bank of New York Mellon, a New York Banking corporation acting in its capacity as trustee (in such capacity, the "Trustee") of the Merk Gold Trust (the "Trust"), created under New York law pursuant to a Depositary Trust Agreement between the Trustee and the Sponsor, as defined herein, dated [ ], 2014, as it may be amended from time to time (the "Trust Agreement"), and (iii) Merk Investments LLC, in its capacity as sponsor of the Trust (in such capacity, the "Sponsor").

iShares S&P GSCI Commodity-Indexed Investing Pool LLC – Authorized Participant Agreement (November 29th, 2013)
iSHARES COMMODITY OPTIMIZED TRUST – Authorized Participant Agreement (July 1st, 2013)
iShares S&P GSCI Commodity-Indexed Investing Pool LLC – Form of Authorized Participant Agreement (March 4th, 2013)
Managed Emerging Markets Trust – Form of Authorized Participant Agreement (January 14th, 2013)