Silver exchange-traded products are

exchange-traded fund An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout the ...

s (ETFs), exchange-traded notes (ETNs) and

closed-end fund A closed-end fund (CEF) is a fund that raises capital by issuing a fixed number of shares which are not redeemable, and then invest that capital in financial assets such as stocks and bonds. Unlike open-end funds, new shares in a closed-end fund ...

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 documents ...

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 the ...

s including the

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

and

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

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) 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 have since been rebranded. ...

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 ...

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 HSBC Bank USA, National Association, an American subsidiary of multinational company HSBC, is a bank with its operational head office in New York City and its nominal head office in McLean, Virginia (as designated on its charter). 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 (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

in July 2010.

References

{{Reflist, 30em Commodities used as an investment Exchange-traded products

Products

Physically backed funds

Other products

See also

References