Hi ho Silver, away - new ETF very near

Posted by: Aaron Pressman on March 22, 2006

All that glitters is not gold, at least in the ETF world this week. The Securities and Exchange Commission has finally approved (PDF file) the American Stock Exchange’s plan to trade Barclays’ silver exchange-traded fund. Much like the State Street and Barclays gold funds, shares of the new ETF (trading under the symbol SLV) will represent ownership in the actual metal. In this case, each share will equal the value of 10 ounces of silver.

Keep in mind that silver hit a almost more than 20-year high of $10.59 an ounce in anticipation that the new ETF will drive up demand. I’ll explore why anyone should care that they can buy a silver ETF in a future blog post, perhaps timed to the start of SLV trading.

Reader Comments

Tim

March 29, 2006 1:19 PM

Wow - anyone watching silver today? I'm seeing spot silver quoted over $11 per oz for the first time in over 20 years. Is this still demand spurred by the ETF news, or are we finally getting into the supply crunch induced "silver explosion" foreseen by so many precious metals writers over the past decade?

Leo

April 4, 2006 12:40 PM

When is the Silver ETF scheduled to start trading on the ASE

Philip Lopa

April 29, 2006 10:19 AM

How do I go about purchasing said share!

alan reed

January 26, 2009 8:29 AM

If I buy shares, can I sometime in the future cash these in for actual silver?

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About

Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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