iShares Silver Trust

iShares Silver Trust is a U.S.-based grantor trust that holds physical silver bullion and issues shares representing fractional interests in that silver. Its shares trade on NYSE Arca under the ticker SLV, giving investors exchange-traded exposure to the price of silver through the securities market.

— iShares Silver Trust
%
Silver-backed exchange-traded shares100% Shares that represent fractional beneficial interests in silver bullion held by the Trust.
Basket creation and redemption0% Primary market issuance and redemption of Shares in 50,000-share baskets through authorized participants.
Custody and bullion administration0% Holding, safekeeping, valuation, and administration of the Trust's silver assets.

The Trust is used by investors seeking direct market exposure to silver without buying, storing, or insuring physical...

  • Retail investorsprimary

    Buy SLV through brokerage accounts to gain simple, liquid exposure to silver prices.

  • Institutional investorsprimary

    Use the Trust for tactical commodity allocation, hedging, or portfolio diversification.

  • Authorized participantsprimary

    Registered broker-dealers that create and redeem baskets by delivering or receiving silver.

  • Commodity traderssecondary

    Trade the shares for short-term exposure to silver price movements and market liquidity.

The Trust is organized in the United States, formed under New York law, and its shares trade on NYSE Arca...

  • •United States is the legal domicile and listing market
  • •Shares trade on NYSE Arca under ticker SLV
  • •Silver is held in London, New York, and other authorized locations
  • •Custody and benchmark pricing connect the Trust to global silver markets

The Trust's core strategy is to provide a simple, exchange-traded vehicle that closely tracks the price of silver...

01
Maintain tight linkage to silver spot pricesshort-term

The product's value proposition depends on tracking the underlying metal as closely as possible.

02
Preserve efficient market liquidityshort-term

Liquidity and arbitrage help keep trading prices near NAV for investors.

03
Maintain secure bullion custody and verificationmedium-term

Investor confidence depends on the integrity and traceability of the silver holdings.

The Trust's main risks come from dependence on silver prices, benchmark integrity, and the operational reliability of...

high

Silver price volatility

The Trust's value is intended to mirror silver, so commodity moves flow directly into share value.

Scope
All shareholders
Materiality
high
high

Benchmark disruption or loss of confidence in LBMA Silver Price

NAV is based on the benchmark, so benchmark failures can distort valuation and investor returns.

Scope
NAV calculation and market pricing
Materiality
high
medium

Premium/discount to NAV

Trading hours, market supply and demand, and silver market liquidity can cause shares to diverge from underlying value.

Scope
Secondary market investors
Materiality
medium
medium

Operational and cybersecurity risk

The Trust depends on the sponsor, trustee, custodian, and electronic systems for recordkeeping and trading support.

Scope
Administration and custody chain
Materiality
medium
medium

Service provider concentration

A small number of counterparties handle custody, administration, and market access, increasing dependency risk.

Scope
Sponsor, trustee, custodian, authorized participants
Materiality
medium
Fair value of silver bullion
Largest driver of balance sheet and per-share value
Net asset value computation
Affects trading premium/discount analysis
Share creation and redemption accounting
Affects share count and asset base
Incidental cash balances
Minor but can affect period-end balances

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: 29/04/2026