For years, American investors who wanted the security of physical gold and silver lived with a gap in the market. They could buy an ETF that tracked the metal, but the metal itself almost always lived overseas. The Y’all Street Physical Gold ETF (YSAU) and Y’all Street Physical Silver ETF (YSAG) were built to fill that gap. As of July 15, 2026, both funds are trading on NASDAQ, and are the first and only physical gold and silver ETFs to hold 100% of their metal on American soil.
Gold and silver have always been store-of-value assets, held for the moments when everything else feels uncertain. That is precisely why the question of where the metal sits, and who controls it, matters more than most investors realize. The largest physically backed metals ETFs available in the United States today custody the majority of their bullion in foreign jurisdictions, concentrated heavily in London. On top of that, much of the broader market operates using unallocated accounts, an arrangement in which an investor’s position is a claim against a shared pool of metal rather than specific bars set aside and owned outright. In ordinary times, few people notice. In stressed times, the difference between owning specific metal and holding a claim on a pool becomes more important.
The Metal is in the United States
The defining feature of YSAU and YSAG is jurisdiction. Every ounce backing the two funds is vaulted in the United States and held by Texas Precious Metals Depository, with facilities in Shiner, Texas and Hempstead, New York. Keeping the metal domestic removes a category of risk that overseas storage carries by default: exposure to foreign jurisdictions and foreign courts, and the concentration risk that comes with warehousing a nation’s investment metal in a single offshore city. If a dispute, a policy shift, or a liquidity event ever touched that foreign hub, investors relying on metal stored there would be exposed to a system they have no control over. Metal held in Texas answers to American law and sits within reach of the people who own it. The depository itself is a 71,000-square-foot facility that carries an all-risk insurance policy underwritten by Lloyd’s of London, and it permits independent auditors to examine the metal held for the funds twice a year.
Fully Allocated
Location is only half of the story. The other half is ownership. YSAU and YSAG are fully allocated, which means the funds hold real, specific gold and silver bars, each one identified by its own bar number and specification and set aside in a segregated area for the funds’ account. None of the funds’ metal is held on an unallocated basis. There are no unallocated pools, no futures contracts, and no derivatives standing in for the physical asset.
That distinction carries real weight. Many existing bullion products rely on unallocated holdings, which can expose investors to the credit risk of the clearing banks that hold the metal. If that counterparty runs into trouble, an investor’s claim can become entangled with it. Full allocation cuts that link. And because the bars are specific and segregated, they can be verified rather than simply trusted. Texas Precious Metals publishes daily bar lists and submits the funds to independent audits, so what stands behind them is not a line on a balance sheet but identifiable metal that can be counted. Allocation is one of those features that sounds technical right up until the moment it matters.
A Lower Cost for a Higher Standard
A common assumption is that doing all of this the right way must cost more. It does not. YSAU carries an expense ratio of 0.24% and YSAG carries an expense ratio of 0.39%, placing both below the leading U.S.-listed gold and silver ETFs by assets under management. In other words, domestic and fully allocated storage is available at a lower ongoing cost than the offshore, status quo that has dominated the category for years. For an asset most investors intend to hold over the long term as a strategic allocation rather than a short-term trade, that difference compounds quietly in the investor’s favor.
Built on a Real Depository
Texas Precious Metals, the parent company of Y’all Street Asset Management, serves as the funds’ sole custodian. Established in 2011, it is one of the largest precious metals companies in the world, a market maker for gold and silver and the operator of a depository already trusted to safeguard billions in client holdings. The same security, insurance, and operational standards that built that reputation now stand behind YSAU and YSAG. On the fund side, Y’all Street partnered with Teucrium, an experienced ETF sponsor, to bring the products to market through an established and well-understood ETF structure. The result pairs a proven custody operation with proven fund mechanics, giving investors the convenience of an exchange-traded product without giving up the substance of real, allocated gold and silver.
Where They Fit
For financial advisors and individual investors alike, the case is straightforward. Investors do not typically buy gold and silver to trade in and out of them. They hold metal as a diversifier and a hedge, a portion of a portfolio meant to hold its value when other assets do not. For that purpose, the risks that matter most are not the day-to-day price swings but the durability of the holding itself: where the metal is, whether it is truly owned, and who ultimately controls it. YSAU and YSAG were designed around exactly those questions. Metal on American soil, held in fully allocated form, verifiable and audited, at a competitive cost.
More Americans than ever are turning to gold and silver as a store of value. For the first time, they can do so through an ETF whose metal never leaves the country, is owned outright rather than shared, and can be pointed to bar by bar. That option did not exist before July 15, 2026. It does now. YSAU and YSAG are trading on NASDAQ. To learn more about how the funds are structured or how they might fit within a portfolio, reach out to the Y’all Street Asset Management team or visit our website at yallstreetetfs.com
Important Disclosures
Expense Ratio Comparison (as of July 6, 2026): “Leading” refers to the largest U.S.-listed ETF by assets under management in each category. YSAU (0.24%) is compared to GLD (0.40%), the leading gold ETF by AUM. YSAG (0.39%) is compared to SLV (0.50%), the leading silver ETF by AUM. Expense ratios sourced from each fund’s current prospectus or fund fact sheet. Expense ratios are subject to change.
This material must be preceded or accompanied by a prospectus. Before investing, investors should read the prospectus carefully for more complete information about the Funds, including investment objectives, risks, charges, and expenses. Live links to: YSAG/YSAU
The value of each Share is directly related to the price of physical gold, as applicable, less Fund expenses. Silver & gold prices can be highly volatile and may be affected by supply and demand, interest rates, inflation expectations, currency movements, geopolitical events, central bank or governmental activity, investment and trading activity, and broader economic or market conditions.
Fund shares may trade at a premium or discount to net asset value. An active trading market for the Shares may not develop or be maintained.
YSAU & YSAG are not investment companies registered under the Investment Company Act of 1940 (the “1940 Act”) and are not subject to regulation under the Commodity Exchange Act of 1936 (the “CEA”). As a result, shareholders do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act or the protections afforded by the CEA.
YSAU & YSAG shares trade like stocks, are subject to investment risk and will fluctuate in market value. The value shares relates directly to the value of the silver & gold held by each Fund (less its expenses), and fluctuations in the price of gold or silver could materially and adversely affect an investment in the shares. The Funds do not generate any income, and as the Funds regularly sell gold or silver to pay for ongoing expenses, the amount of gold or silver represented by each Share will decline over time to that extent.
An investment in the funds involves risk, including possible loss of principal. Exchange-traded funds (ETFs) trade like stocks, are subject to investment risk, fluctuate in market value, and may trade at prices above or below the ETF’s net asset value (NAV), and are not individually redeemable directly with the ETF. Brokerage commissions and ETF expenses will reduce returns. ETFs are subject to specific risks, depending on the nature of the underlying strategy of the fund. These risks also include value stocks risk, market disruption and geopolitical risk, inflation risk, issuer risk, small and mid cap companies risk, other investment companies or real estate investment trust risk, focus risk, concentration policy risk, market price risk, small fund risk, and authorized participant concentration risk. For a complete description of the fund’s principal investment risks, please refer to the prospectus.
Teucrium Asset Management, LLC is the sponsor for YSAG and YSAU. PINE Distributors LLC is the Marketing Agent for YSAG and YSAU and is not affiliated with Texas Precious Metals or Teucrium Asset Management.
TUCRM-5722523-07/26
