Company: SPPP
Filing Date: 2025-08-15
Form Type: 6-K
Source: 0001999371-25-011465
Chunk: 0

Company: SPROTT PHYSICAL PLATINUM & PALLADIUM TRUST
Filing Date: 2025-08-15
Form: 6-K
Chunk 0
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2025

Commission File Number: 001-35765

SPROTT PHYSICAL PLATINUM AND
PALLADIUM TRUST

(Translation of registrant’s name into English)

Suite 2600, South Tower

Royal Bank Plaza

200 Bay Street

Toronto, Ontario

Canada M5J 2J1

(Address of principal executive offices)</div>

Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.

<div align='center'>Form 20-F☐ Form 40-F ☒</div>

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached hereto as Exhibit 99.1 are the Interim
Management Report of Fund Performance and Unaudited Interim Financial Statements as of June 30, 2025 of Sprott Physical Platinum and Palladium Trust
(the “Trust”).

Exhibit 99.1 is hereby incorporated by reference
into the Trust’s Registration Statement on Form F-10EF (File No. 333-287978), filed with the Securities and Exchange
Commission on June 12, 2025.

<div align='center'>2

SIGNATURES</div>

Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

<div align='center'>SPROTT PHYSICAL PLATINUM AND PALLADIUM TRUST
(Registrant)
By Sprott Asset Management GP Inc.,
as general partner of
the manager of the Registrant</div>

|                        | By: | /s/ Kevin Hibbert |
|                        |     | Kevin Hibbert     |
|                        |     | Director          |
| Dated: August 15, 2025 |     |                   |

<div align='center'>3</div>