iShares Silver Trust

The iShares Silver Trust is a grantor trust that holds physical silver and issues publicly traded shares reflecting fractional ownership in those holdings, enabling retail investors to gain efficient exposure to silver without the costs and logistical complexity of direct ownership such as assay, storage, insurance, and transportation. Shares trade on NYSE Arca under ticker SLV and are created and redeemed in large Baskets by authorized broker-dealers, while the underlying silver is held in allocated accounts at custodian banks and valued daily using the LBMA Silver Price. The Trust operates passively—accepting silver deposits for new shares, selling silver to cover operating expenses, and redeeming shares upon request—and generates revenue through a sponsor management fee of 0.50% of net asset value, which covers trustee, custodian, and administrative costs.