Profile: iShares Silver Trust (SLV)

iShares Silver Trust (the Trust) is a grantor trust that is designed to provide a vehicle for investors to own interests in silver. The purpose of the Trust is to own silver transferred to the Trust in exchange for shares issued by the Trust (iShares). Each iShare represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist primarily of silver held by the custodian on behalf of the Trust. The objective of the Trust is for the value of the iShares to reflect, at any given time, the price of silver owned by the Trust at that time.

The Trust’s activities include issuing Baskets (a Basket consists of 50,000 iShares) of iShares in exchange for the silver deposited with the custodian as consideration, and delivering silver in exchange for Baskets of iShares surrendered for redemption. The Trust is a passive investment vehicle. The trustee of iShares Silver Trust is The Bank of New York and is responsible for the day to day administration of the Trust. The Trust’s sponsor is Barclays Global Investors International Inc., a subsidiary of Barclays Bank PLC.