Blanket Issuer Letter of Representations between ETFS Gold Trust and The Depository Trust Company (June 25, 2009)

Summary

This agreement is between ETFS Gold Trust, represented by ETF Securities USA LLC, and The Depository Trust Company (DTC). It confirms that ETFS Gold Trust will comply with DTC's rules and operational requirements for making its securities eligible for deposit and book-entry transfer through DTC. The agreement ensures that all securities issued by ETFS Gold Trust can be processed and transferred electronically via DTC's systems. The document is signed by both parties and outlines their mutual understanding regarding the handling of these securities.

EX-10.3 12 c57028_ex10-3.htm

The Depository Trust Company
A subsidiary of the Depository Trust & Clearing Corporation

BLANKET ISSUER LETTER OF REPRESENTATIONS

ETFS GOLD TRUST

June 25, 2009
(Date)

Attention: Underwriting Department
The Depository Trust Company
55 Water Street, 1SL
New York, NY 10041-0099

Ladies and Gentlemen:

This letter sets forth our understanding with respect to all issues (the “Securities”) that Issuer shall request to be made eligible for deposit by the Depository Trust Company (“DTC”).

Issuer is formed under the laws of the State of New York.

To induce DTC to accept the Securities as eligible for deposit at DTC, and to act in accordance with DTC’s Rules with respect to the Securities, Issuer represents to DTC that issuer will comply with the requirements stated in DTC’s Operational Arrangements, as they may be amended from time to time.

Note:		Very truly yours,
Schedule A contains statements that DTC believes
accurate describe DTC, the method of effecting		ETFS GOLD TRUST,
book-entry transfers of securities distributed
through DTC, and certain related matters.		by ETF Securities USA LLC, as sponsor

Received and Accepted		By:	/s/ Greg Burgess
THE DEPOSITORY TRUST COMPANY			(Authorized Officer’s Signature”)

By:	/s/ The Depository Trust Company		Greg Burgess
			(Print Name)

			Ordnance House, 31 Pier Road, St. Helier JE48 PW
			(Street Address)

			Jersey, Channel Islands
			(City, State, Country, Zip)

			011 ###-###-####
			(Phone Number)

			*@*
			(Email Address)