Is SLV a cryptocurrency backed by physical silver?

3 answers

• Simone CarminatiApr 21, 2021 · 4 years ago
  SLV is not a cryptocurrency backed by physical silver. SLV is actually the ticker symbol for the iShares Silver Trust, which is an exchange-traded fund (ETF) that holds physical silver bullion. It is not a digital currency like Bitcoin or Ethereum. The purpose of SLV is to provide investors with exposure to the price of silver without having to physically own and store the metal. The value of SLV is directly tied to the price of silver and is traded on stock exchanges.
  473

  237
• Tw2X2May 07, 2024 · a year ago
  No, SLV is not a cryptocurrency backed by physical silver. It is an ETF that represents ownership in physical silver bullion. The iShares Silver Trust (SLV) holds silver bars in a vault and issues shares that represent a certain amount of silver. These shares can be bought and sold on stock exchanges, similar to stocks. So, while SLV allows investors to gain exposure to the price of silver, it is not a digital currency.
  423

  141
• kdog-devOct 05, 2024 · 9 months ago
  No, SLV is not a cryptocurrency backed by physical silver. It is an ETF that holds physical silver bullion. The iShares Silver Trust (SLV) is managed by BlackRock, one of the largest asset management companies in the world. The purpose of SLV is to provide investors with a convenient way to invest in silver without the need to physically store the metal. SLV shares can be bought and sold on stock exchanges, making it a popular choice for investors looking to gain exposure to silver.
  487

  122