iShares Silver Trust
Institutional Structure & Tax Specification
Statutory fund vehicle structure, benchmark mechanics, regulatory identifiers & taxation specifications
Grantor Trust (Commodity Pool)
Physical Storage
Passive
2011-01-26
LBMA Silver Price USD
Market Capitalization
Benchmark Index Rules & Statutory Prospectus Constraints
Quarterly / Periodic
No Distributions
Collectibles Capital Gains (28% Max)
39.60%
28.00%
Collectibles / 60-40 Rule
USSLV0000010 · CEOJMS
BlackRock Fund Advisors
BlackRock Investments, LLC
Operational Governance & Primary Market Mechanics (S48-Phase 2)
Statutory Form 497K & N-CEN statutory disclosures: creation/redemption mechanics, securities lending & tax forms
Standard 1099-DIV qualified pass-through; no complex partnership tax filing
Portfolio collateral not rehypothecated to short sellers
100% direct physical equity replication; zero swap counterparty risk
Statutory Form N-PORT transparent reporting schedule
Standard block size for authorized participant (AP) primary creation
Active primary market arbitrage throughput
Massive AUM scale and daily dollar liquidity protect against liquidation
Fit vs. LBMA Silver Price USD
Ease of AP primary market arbitrage and basket creation
Annual NAV tracking variance vs benchmark index
SEC EDGAR & Regulatory Structure
Statutory filings and fund prospectuses