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Barclays: Silver ETF 'Expected' To Start Trading Friday
DOW JONES NEWSWIRES
Barclays Global Investors anticipates that trading will begin Friday for a silver exchange-traded fund that on Thursday received final regulatory approval, a spokesman said.
"The registration statement for the iShares Silver Trust was declared effective today and the iShares Silver Trust is expected to start trading tomorrow on the American Stock Exchange," said Lance Berg, spokesman for Barclays.
He later added, "Investors with standard brokerage accounts should tomorrow be able to invest in an ETF that tracks the price of silver."
The Securities and Exchange Commission reported Thursday that it has approved the registration statement and that this was the last step in the regulatory review process.
On March 21, the SEC issued an order that allowed the listing and trading of shares of Barclays' iShares Silver Trust on the American Stock Exchange.
The ETF is designed to allow investors to buy or sell shares similar to a stock, only the ETFs closely track the day-to-day movement of the commodity. The objective is for the share value to reflect the price of the silver held by the trust, minus expenses and liabilities, according to the Barclays prospectus submitted to the SEC.
The ETF shares are backed by silver stored on behalf of the trust.
