SIVRHIGH SIGNALFINANCIAL10-K

SIVR experienced substantial growth in assets under management with shares at redeemable value growing meaningfully and outstanding shares increasing significantly during 2025.

The Trust's assets under management expanded substantially from $1.42 billion to $5.43 billion, while outstanding shares grew from 51.5 million to 79.25 million shares, indicating strong investor demand for silver exposure. This dramatic asset growth reflects either significant inflows into the ETF or substantial appreciation in the underlying silver holdings, positioning the Trust as a much larger player in the precious metals ETF space.

Comparing 2026-03-02 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

The financial picture shows a trust experiencing rapid expansion, with assets under management growing substantially during 2025. Share buybacks were reduced by approximately half to $32.8 million, which is consistent with a growing fund that has less need for share repurchases. The overall financial trajectory signals strong investor appetite for silver exposure and successful fund management execution during the reporting period.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
-49.3%
$64.8M→$32.8M

Buyback activity reduced 49.3% — capital being redeployed elsewhere or cash conservation underway.

LANGUAGE CHANGES
NEW — 2026-03-02
PRIOR — 2025-02-28
ADDED
false 2025 FY --12-31 0001450922 0001450922 2025-01-01 2025-12-31 0001450922 2025-06-30 0001450922 2026-02-26 0001450922 2025-12-31 0001450922 2024-12-31 0001450922 2024-01-01 2024-12-31 0001450922 sivr:SilverMember 2025-12-31 0001450922 sivr:SilverMember 2024-12-31 0001450922 2023-01-01 2023-12-31 0001450922 2023-12-31 0001450922 2022-12-31 0001450922 us-gaap:FairValueInputsLevel1Member 2025-12-31 0001450922 us-gaap:FairValueInputsLevel1Member 2024-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure utr:oz UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
As of February 26, 2026, abrdn Silver ETF Trust had 76,550,000 abrdn Physical Silver Shares ETF outstanding.
Business 2 Trust Objective 2 Overview of the Silver Industry 3 Operation of the Silver Bullion Markets 6 Secondary Market Trading 8 Valuation of Silver and Computation of Net Asset Value 8 Trust Expenses 9 Creation and Redemption of Shares 10 Creation and Redemption Transaction Fee 13 The Sponsor 13 The Trustee 14 The Custodian 15 Inspection of Silver 15 Description of the Shares 15 Custody of the Trust s Silver 16 United States Federal Income Tax Consequences 17 ERISA and Related Considerations 19 Item 1A.
The Trust s Shares at redeemable value increased from $1,421,124,141 at December 31, 2024 to $5,430,232,445 at December 31, 2025, the Trust s fiscal year end.
Outstanding Shares in the Trust increased from 51,500,000 Shares at December 31, 2024 to 79,250,000 Shares outstanding at December 31, 2025.
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REMOVED
false 2024 FY --12-31 0001450922 0001450922 2024-01-01 2024-12-31 0001450922 2024-06-30 0001450922 2025-02-26 0001450922 2024-12-31 0001450922 2023-12-31 0001450922 2023-01-01 2023-12-31 0001450922 sivr:SilverMember 2024-12-31 0001450922 sivr:SilverMember 2023-12-31 0001450922 2022-01-01 2022-12-31 0001450922 2022-12-31 0001450922 2021-12-31 0001450922 us-gaap:FairValueInputsLevel1Member 2024-12-31 0001450922 us-gaap:FairValueInputsLevel1Member 2023-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure utr:oz UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
As of February 26, 2025, abrdn Silver ETF Trust had 49,900,000 abrdn Physical Silver Shares ETF outstanding.
Business 3 Trust Objective 3 Overview of the Silver Industry 4 Operation of the Silver Bullion Markets 7 Secondary Market Trading 10 Valuation of Silver and Computation of Net Asset Value 10 Trust Expenses 11 Creation and Redemption of Shares 12 Creation and Redemption Transaction Fee 16 The Sponsor 16 The Trustee 17 The Custodian 18 Inspection of Silver 18 Description of the Shares 19 Custody of the Trust s Silver 20 United States Federal Income Tax Consequences 20 ERISA and Related Considerations 23 Item 1A.
The Trust s Shares at redeemable value increased from $1,060,402,598 at December 31, 2023 to $1,421,124,141 at December 31, 2024, the Trust s fiscal year end.
Outstanding Shares in the Trust increased from 46,550,000 Shares at December 31, 2023 to 51,500,000 Shares outstanding at December 31, 2024.
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