abrdn Silver ETF Trust reported significant financial performance improvements in its latest 10-Q filing for the quarter ending March 31, 2025. The Trust's net assets increased to $1.64 billion, up 15.44% from $1.42 billion at the end of the previous fiscal period. This growth was primarily driven by a 17.81% rise in the price of silver, which increased from $28.91 per ounce to $34.06 per ounce during the quarter. The net asset value (NAV) per share also saw a substantial increase, rising from $27.59 to $32.49, reflecting a 17.76% gain.
In terms of operational metrics, the Trust experienced a decrease in the number of shares outstanding, which fell from 51.5 million to 50.5 million. This change was attributed to the creation of 3.55 million shares and the redemption of 4.55 million shares during the quarter. The weighted average number of shares increased to 50,642,222 from 46,817,033 in the same period last year, indicating a growing investor interest in the Trust's offerings.
The Trust's expenses for the quarter totaled $1.15 million, compared to $784,000 in the same period last year, largely due to an increase in the Sponsor's fee, which was $1.15 million after waivers. The Sponsor has continued to waive a portion of its fee, maintaining the net fee at 0.30% of the adjusted net asset value. The increase in expenses was offset by realized gains on silver distributed for share redemptions and a significant change in unrealized gains, which totaled $219 million for the quarter.
Looking ahead, the Trust's management remains optimistic about its performance, citing favorable market conditions for silver and a strong demand for its shares. The Trust continues to focus on its investment objective of reflecting the performance of physical silver prices while managing expenses effectively. The Trust's strategy includes ongoing engagement with Authorized Participants for share creations and redemptions, which is expected to support liquidity and market presence. Overall, the Trust's financial health appears solid, with no material changes anticipated in its liquidity needs or operational structure.
About abrdn Silver ETF Trust
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