Silver exchange-traded products are
exchange-traded fund
An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or comm ...
s (ETFs),
exchange-traded note
An exchange-traded note (ETN) is a senior, unsecured, unsubordinated debt security issued by an underwriting bank or by a special-purpose entity. Similar to other debt securities, ETNs may have a maturity date and are backed by the credit of th ...
s (ETNs) and
closed-end fund
A closed-end fund (CEF), also known as a closed-end mutual fund, is an investment vehicle fund that raises capital by issuing a fixed number of shares at its inception, and then invests that capital in financial assets such as stocks and bonds. ...
s (CEFs) that aim to track
the price of silver. Silver
exchange-traded product
An exchange-traded product (ETP) is a regularly priced security which trades during the day on a national stock exchange. ETPs may embed derivatives but it is not a requirement that they do so – and the investment memorandum (or offering docume ...
s are traded on the major
stock exchange
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...
s including the
London
London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...
and
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
s. The
U.S Geological Survey cites the emergence of silver ETFs as a significant factor in the 2007-2011 price rise of silver. As of September 2011, the largest of these funds holds the equivalent of over one third of the world's total annual silver production.
Products
Physically backed funds
* Central Fund of Canada and Silver Bullion Trust are closed-end funds created by the same Canadian founders and mandated to keep the bulk of their net assets in precious metals, with a small percentage of cash. The Central Fund of Canada holds a mix of gold and silver, while the Silver Bullion Trust holds only silver. The Central Fund of Canada and Silver Bullion Trust
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
s were completed in 1961 and 2009 respectively.
* iShares Silver Trust was launched by
iShares
iShares is a collection of exchange-traded funds (ETFs) and index mutual funds managed by BlackRock, which acquired the brand and business from Barclays in 2009. The first iShares ETFs were known as World Equity Benchmark Shares (WEBS) but hav ...
in April 2006. As of November 2010, iShares Silver Trust is the largest silver ETF on the market with over 335 million troy ounces of silver in storage.
* ETFS Physical Silver was launched by
ETF Securities
ETF Securities is an asset management firm that issues exchange-traded funds (ETFs) primarily in Australia.
History
The company was founded by Australian businessman and philanthropist Graham Tuckwell.
The company worked with the World Gold C ...
in April 2007 and is backed by allocated silver bullion. ETF Securities have since launched physical silver ETFs on multiple exchanges around the world including Paris, Australia, New York and Tokyo. ETFS Physical Silver is backed by allocated bullion in the form of
LBMA bars held with a custodian,
HSBC Bank USA, and audited twice a year by an independent third party, Inspectorate International Ltd.
* ZKB Silver ETF was launched by Zürcher Kantonalbank in May 2007 and invests exclusively in physical silver.
* Claymore Silver Bullion Trust is a closed-end fund created by Claymore Investments. The initial public offering was completed on July 15, 2009.
* Julius Baer Physical Silver Fund was launched by Swiss & Global Asset Management (formerly Julius Baer Asset Management) in January 2010.
* Sprott Physical Silver Trust is a closed-end fund created by Sprott Asset Management. The initial public offering was completed on November 3, 2010.
Other products
* db Physical Silver ETC was launched by
Deutsche Bank
Deutsche Bank AG (, ) is a Germany, German multinational Investment banking, investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange.
...
in July 2010.
See also
*
Gold exchange-traded product
*
Platinum as an investment
Investment in platinum is often compared in financial history to gold and silver, which were both known to be used as money in ancient civilizations. Experts posit that platinum is about 15–20 times scarcer than gold and approximately 60–100 ...
*
Silver as an investment
Silver may be used as an investment like other precious metals. It has been regarded as a form of money and store of value for more than 4,000 years, although it lost its role as legal tender in developed country, developed countries when the use ...
References
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Commodities used as an investment
Exchange-traded products