Company: SPPP
Filing Date: 2025-06-12
Form Type: F-10EF
Source: 0001999371-25-007710
Chunk: 0

Company: SPROTT PHYSICAL PLATINUM & PALLADIUM TRUST
Filing Date: 2025-06-12
Form: F-10EF
Chunk 0
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<div align='center'>As filed with the Securities and Exchange Commission on June 12, 2025</div>

Registration No. 333-

<div align='center'>UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM F-10
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933

SPROTT PHYSICAL PLATINUM AND PALLADIUM TRUST
(Exact name of Registrant as specified in its charter)</div>

| Province                           
 of Ontario, Canada                 
 (Province or other jurisdiction of 
 incorporation or organization)     |     | 1040                         
 (Primary Standard Industrial 
 Classification Code Number)  |     | N/A                 
 (I.R.S. Employer    
 Identification No.) |

<div align='center'>Royal Bank Plaza,
South Tower
200 Bay Street, Suite 2600
Toronto, Ontario,
Canada M5J 2J1
(416) 943-8099
(Address and telephone number of Registrant’s principal executive offices)

Puglisi & Associates
850 Library Avenue, Suite 204
Newark, Delaware 19711
(302) 738-6680
(Name, address (including zip code) and telephone number (including area code)
of agent for service in the United States)</div>

| Copies                           
 to:                              |     |                                  |     |                        |
| Lara                             
 Misner                           
 Sprott Asset Management LP       
 Royal Bank Plaza, South Tower,   
 200 Bay Street, Suite 2600       
 Toronto, Ontario, Canada M5J 2J1 
 (416) 943-8099                   |     | John                             
 Laffin, Esq.                     
 Stikeman Elliot LLP              
 5300 Commerce Court West         
 199 Bay Street                   
 Toronto, Ontario, Canada M5L 1B9 
 (416) 869-5289                   |     | Anthony                
 Tu-Sekine, Esq.        
 Seward & Kissel LLP    
 901 K Street N.W.      
 Washington, D.C. 20001 
 (202) 737-8833         |

<div align='center'>Approximate date of commencement of proposed sale of the securities to the public:
From time to time after the effective date of this Registration Statement.</div>

It
is proposed that this filing shall become effective (check appropriate box)

| A. | ☒ | upon filing with the Commission, pursuant to