CurrencyShares British Pound Sterling Trust (the Trust) is a grantor trust. The Trust issues shares in blocks of 50,000 in exchange for deposits of British Pound Sterling and distributes British Pound Sterling in connection with the redemption of Baskets. The shares trade on New York Stock Exchange (NYSE) Arca. The investment objective of the Trust is for the shares to reflect the price of British Pound Sterling plus accrued interest, less the expenses of the Trust’s operations. The shares are intended to offer investors an opportunity to participate in the market for the British Pound Sterling through an investment in securities. The shares are intended to provide institutional and retail investors with a means of gaining investment benefits similar to those of holding the British Pound Sterling.