Most Popular Silver Exchange Traded Product Celebrates 10 Year Anniversary
By GCRU Gold News on Wednesday, April 27 2016, 07:05 - Permalink
On April 28, 2006, the iShares Silver Trust was launched. It is now the world’s largest silver-backed investment product, with over 330 million ounces (Moz) of silver held in the Trust and net assets of over US$5.5 billion.
Today, iShares Silver Trust accounts for 94 percent of silver holdings in ETPs held by U.S. investors and 52 percent of holdings in ETPs held globally. The SLV is unrivalled in scale compared to other physically-backed silver ETPs, with the second largest ETP, the Central Fund of Canada, accounting for 12 percent of global holdings. From the end of 2006 through year-end 2015, the SLV’s holdings increased at a compounded annual rate of 11 percent and accounted for 43 percent of the 460.1 Moz increase in global ETP holdings during that period.