Trade iShares Silver Trust - SLV CFD

iShares Silver Trust Company profile

iShare Silver Trust (SLV) is an exchange-traded fund (ETF) that follows the performance of the silver price and reflects it before payment of the Trust’s expenses and liabilities.

As of August 2014, the Trust uses the performance of the London Metal Bullion 

Association (LMBA) silver price as its underlying benchmark. Previously, the Trust tracked the London Silver Fix for its underlying holdings.

iShares Delaware Trust Sponsor LLC, an indirect subsidiary of BlackRock, Inc. (BLK), sponsors the trust.

The purpose of the trust, which was established on 21 April 2006, is to own silver transferred to the trust in exchange for shares issued by the trust. In short, the shares are meant to be a simple and cost-effective way to make an investment similar to an investment in silver. 

For context, investing in physical silver (the actual precious metal) is frequently expensive and generally requires complicated provisions for transportation, warehousing and insurance of the bullion. As a result, investment in physical silver is out of reach for many investors.

The trust's shares are intended to eliminate the complications and costs associated with investing in physical silver. While the shares are not the same as a silver investment, they provide investors with a way to participate in the silver market through the securities market. Retail investors can buy and sell the shares through conventional brokerage accounts.

The shares are backed by physical silver held by the trust’s custodian, JPMorgan Chase Bank, London branch. The Bank of New York Mellon (BNY Mellon) acts as the trust’s trustee.

The Trustee's arrangements with the custodian provide for a maximum of 1,100 ounces of unallocated silver in the trust account maintained by the custodian at the end of each business day. The shares are listed and trade on the New York Stock Exchange (NYSE) Arca under the ticker symbol SLV.

The trust is not actively managed. It does not sell or buy silver to gain profit from a price swing and could be affected by a general decline in the price of silver.