WisdomTree Gold (BULL) is designed to enable investors to gain an exposure to a total return investment in gold by tracking the Bloomberg Gold Subindex (the "Index") and providing a collateral yield. BULL is an exchange traded commodity ("ETC"). Its securities can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company. The ETC is backed by swaps. The payment obligations of the swap counterparties to the Issuer are protected by collateral held which is marked to market daily. The collateral is held in segregated accounts at The Bank of New York Mellon.