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.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaShares that represent fractional beneficial interests in silver bullion held by the Trust.
Primary market issuance and redemption of Shares in 50,000-share baskets through authorized participants.
Holding, safekeeping, valuation, and administration of the Trust's silver assets.
Asiakkaat
The Trust is used by investors seeking direct market exposure to silver without buying, storing, or insuring physical metal themselves. Its primary users are brokerage clients and market participants who trade SLV on NYSE Arca, while the creation/redemption process is limited to authorized participants and registered broker-dealers. The product is designed for investors who want a liquid, exchange-traded silver instrument rather than a physical bullion holding.
Buy SLV through brokerage accounts to gain simple, liquid exposure to silver prices.
Use the Trust for tactical commodity allocation, hedging, or portfolio diversification.
Registered broker-dealers that create and redeem baskets by delivering or receiving silver.
Trade the shares for short-term exposure to silver price movements and market liquidity.
Strategia
The Trust's core strategy is to provide a simple, exchange-traded vehicle that closely tracks the price of silver before expenses and liabilities. It relies on physical bullion custody, daily NAV calculation, and the creation/redemption mechanism to keep share price aligned with underlying silver value. Its structure is designed to make silver exposure accessible without the operational burden of storing and insuring metal.
The product's value proposition depends on tracking the underlying metal as closely as possible.
Liquidity and arbitrage help keep trading prices near NAV for investors.
Investor confidence depends on the integrity and traceability of the silver holdings.
Maantiede
The Trust is organized in the United States, formed under New York law, and its shares trade on NYSE Arca. Its silver is held by a custodian in London, New York, and other authorized locations, so the business has a U.S. legal base with international bullion storage and market touchpoints.
Riskit
The Trust's main risks come from dependence on silver prices, benchmark integrity, and the operational reliability of its service providers and market infrastructure. Because it is a passive vehicle, disruptions in custody, trading, or the LBMA Silver Price can directly affect NAV tracking and share performance. Investors also face market-price discounts or premiums to NAV, especially when silver markets and NYSE Arca trading hours do not fully overlap.
- Silver price volatilityVaikutus: KorkeaTodennäköisyys: Kohtalainen
The Trust's value is intended to mirror silver, so commodity moves flow directly into share value.
Kohdistuu: All shareholders
- Benchmark disruption or loss of confidence in LBMA Silver PriceVaikutus: KorkeaTodennäköisyys: Matala
NAV is based on the benchmark, so benchmark failures can distort valuation and investor returns.
Kohdistuu: NAV calculation and market pricing
- Premium/discount to NAVVaikutus: KeskitasoTodennäköisyys: Matala
Trading hours, market supply and demand, and silver market liquidity can cause shares to diverge from underlying value.
Kohdistuu: Secondary market investors
- Operational and cybersecurity riskVaikutus: KeskitasoTodennäköisyys: Matala
The Trust depends on the sponsor, trustee, custodian, and electronic systems for recordkeeping and trading support.
Kohdistuu: Administration and custody chain
- Service provider concentrationVaikutus: KeskitasoTodennäköisyys: Matala
A small number of counterparties handle custody, administration, and market access, increasing dependency risk.
Kohdistuu
Kirjanpito
Harkinnanvaraiset erätThe Trust values its holdings using the LBMA Silver Price, so pricing inputs directly affect reported assets and NAV.
Vaikutus: Largest driver of balance sheet and per-share value
NAV is calculated daily and is central to investor pricing and performance measurement.
Vaikutus: Affects trading premium/discount analysis
Basket transactions change outstanding shares and the amount of silver held by the Trust.
Vaikutus: Affects share count and asset base
The Trust may temporarily hold cash from claims or other settlements, which can affect reported assets until distributed or resolved.
Vaikutus: Minor but can affect period-end balances
Samankaltaisia listattuja yhtiöitä
Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.
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Päivitetty: 24.9.2026