US silver trust assets over $80 mln: ETF Securities

NEW YORK, Aug 11 (Reuters) - ETFS Silver Trust (SIVR.P), a
U.S. exchange-traded product (ETP) trading on the New York
Stock Exchange, said on Tuesday its silver bullion holdings
exceeded $80 million, underscoring strong interest in precious
metals among retail investors.

The silver trust, run by London-based ETF Securities, said
that it experienced high volume during its first week of
trading, which beat its own expectations.

The company is also awaiting a U.S. regulatory approval for
its platinum ETP, which would be the first of such products in
the United States. An approval could provide a boost to the
price of platinum, analysts said.

On July 24, when the silver trust was launched, William
Rhind, head of sales and marketing, told Reuters in an
interview that the trust is expected to hold assets of more
than $1 billion during the next six to 12 months.

Exchange-traded products issue securities backed by
physical stocks of a commodity, giving investors exposure to
the underlying asset prices.
(Reporting by Frank Tang; Editing by Lisa Shumaker)