By: Evan Delaune

In April of 2025, I attended the FutureProof Leaders Retreat in Colorado Springs. At the time, we were investigating the best ways to use Texas Precious Metals’ expertise and infrastructure to solve problems in the capital markets. We spoke to advisor after advisor, and as soon as they heard we were the “gold guys,” they each began explaining one enormous problem that gold created for both them and their clients.

Time after time, advisors told us they managed all of their clients’ assets in one centralized place, with one major exception: physical gold and silver. One advisor in particular described a client he managed roughly $10 million for. For years, he had run this client’s investable assets under the belief that, outside of the value of his home, they were the client’s only assets, and he allocated the money accordingly. Because the client was slightly older and risk-averse, the advisor held roughly 10% of his assets in gold. Then one day he learned that the client had $3 million worth of gold sitting in a gun safe at his house. The client wanted control over his gold and did not believe gold-backed ETFs gave him the protection he was after.

The advisor’s reaction was sharp. He now realized his client held $4 million of gold exposure against $13 million in total assets. Over 30% of those assets were tied up in a single position. The client didn’t think much of it, but he was exposed to far more risk than he realized. The problems were immediate. First, he could not properly diversify the client, because there were assets he was completely unaware of, leaving the client significantly overweight gold. Second, that gold sat entirely outside the advisor’s AUM, so he had to account for metal he did not manage when making investment decisions, all without earning the fees he would normally receive for managing that asset.

Different versions of this story were told to us again and again on that trip. Afterward, we began looking deeply into the market to see whether a real solution existed. The only options available to advisors were gold and silver ETFs, which often failed to give investors the comfort real metal gave, or physical metal allocation. Physical products that do not trade on exchange can be difficult to open accounts for and are, on the whole, disadvantageous to advisors.

That gap is what led us to start building. The reality of our markets is that everyone wants a one-stop shop. They want their equities, bonds, crypto, and commodities available in one place. But many who hold gold and silver want the real metal. Bridging this gap is one of the chief problems we aim to solve at Y’all Street Asset Management, by providing exchange traded physical asset products that only use real allocated backing stored in the United States, and specifically in the heart of Texas.

Beginning on July 15th, 2026, Texas Precious Metals will serve as the custodian of the Y’all Street Physical Gold ETF (YSAU) and the Y’all Street Physical Silver ETF (YSAG). These are the first and only gold and silver ETFs to store 100% of the metal in the United States of America. Both YSAU and YSAG hold only fully allocated gold and silver. They never use unallocated pool exposure and hold only real, physical, allocated bars. They sit completely outside the London unallocated settlement system. These products were purpose-built for the American who wants their metal held in real bars, in their own country, at an expense ratio of 0.24% for YSAU and 0.39% for YSAG.

As an advisor, it is critical, for both your clients and your business, to find out whether your clients hold physical bullion or other assets outside the portfolio you manage. It is the only way to make the best decisions for each client and to understand their entire portfolio.

These are only the first products in our effort to bridge the divide between financial portfolio infrastructure and physical assets, and we will continue to move closer to that goal.