Shareholder Information iShares Silver Trust
iShares® Silver Trust
The iShares Silver Trust (the “Trust”) issues shares (“Shares”) representing fractional undivided beneficial interests in its net assets. The assets of the Trust consist primarily of silver held by a custodian on behalf of the Trust. The Trust seeks to reflect generally the performance of the price of silver. The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities.
The Shares are listed and trade on NYSE Arca, Inc. (“NYSE Arca”) under the ticker symbol “SLV”. Market prices for the Shares may be different from the net asset
value per Share. iShares Delaware Trust Sponsor LLC (the “Sponsor”) is the sponsor of the Trust, The Bank of New York Mellon (the “Trustee”) is the trustee of the Trust, and JPMorgan Chase Bank N.A., London branch (the “Custodian”), is the custodian of the Trust. The Trust is not an investment company registered under the United States Investment Company Act of 1940, as amended (the “Investment Company Act”). The Trust is not a commodity pool for purposes of the United States Commodity Exchange Act of 1936, as amended (the “Commodity Exchange Act” or “CEA”).
The Trust intends to issue Shares on a continuous basis. The Trust issues and redeems Shares only in blocks of 50,000 or integral multiples thereof. A block of 50,000 Shares is called a “Basket.” These transactions take place in exchange for silver. Only registered broker-dealers that become authorized participants by entering into a contract with the Sponsor and the Trustee (“Authorized participants”) may purchase or redeem Baskets. Shares will be offered to the public from time to time at prices that will reflect the price of silver and the trading price of the Shares on NYSE Arca at the time of the offer. On January 28, 2022, the Shares closed on NYSE Arca at $20.71 and the LBMA Silver Price (as defined in “Business of the Trust – Valuation of Silver; Computation of Net Asset Value) was $22.50 per ounce. Except when aggregated in Baskets, Shares are not redeemable securities. Investing in the Shares involves significant risks. See “Risk Factors” starting on page 6.
Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of the
securities offered in this prospectus, or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal
offense.
The Shares are not interests in nor obligations of either the Sponsor or the Trustee.
“iShares” is a registered trademark of BlackRock, Inc. or its affiliates.
The date of this prospectus is January 31, 2022.
