08:49 AM EDT, 03/17/2025 (MT Newswires) -- Sprott (SII.TO) said Monday that the net asset value of the Sprott Physical Gold Trust ( PHYS ) net asset value has surpassed US$10 billion.

As of March 13, the Trust held 3.4 million ounces of gold on behalf of its unitholder, according to Sprott.

"Gold prices have set new records in 2025, driven largely by global central bank purchases," Sprott CEO Whitney George said. "We expect this trend to accelerate and broaden as investor participation increases."

Separately, Sprott subsidiary Sprott Asset Management said an application was made to list and trade trust units of Sprott Physical Copper Trust (COP-UN.TO) on NYSE Arca to allow the dual listing of the units on both the TSX and NYSE Arca.

Sprott Physical Copper Trust was created to invest and hold substantially all of its assets in physical copper metal.

"We believe a U.S. listing of Sprott Physical Copper Trust Units would provide U.S. investors with easier access to the only exchange listed physical copper fund," said John Ciampaglia, CEO of Sprott Asset Management. "Copper is a critical material essential to meet growing demand for electricity generation, distribution and storage."

Sprott's share price was up 0.4% at last look to US$42.67 in NYSE pre-market trading.