 "Decks cleared for the launch of silver ETFs as Sebi notifies norms")
The Securities and Exchange Board of India (Sebi) has notified norms to enable the launch of silver exchange traded funds (ETF).
“Silver exchange traded fund scheme” shall mean a mutual fund scheme that invests primarily in silver or silver-related instruments,” the regulator has said in a notification dated November 9.
The Sebi board at its meeting held in September had approved MFs to launch silver ETFs. Currently, MFs offer only gold-based ETFs in the commodity space. Silver ETFs will have similar safeguards as that in the existing regulatory mechanism for Gold ETFs.
Globally, there are at least four silver ETFs with AUM of more than $ 1 billion. iShares Silver Trust world’s biggest silver ETF has AUM of over $12 billion.
“Silver exchange traded fund scheme” shall mean a mutual fund scheme that invests primarily in silver or silver-related instruments,” the regulator has said in a notification dated November 9.
The Sebi board at its meeting held in September had approved MFs to launch silver ETFs. Currently, MFs offer only gold-based ETFs in the commodity space. Silver ETFs will have similar safeguards as that in the existing regulatory mechanism for Gold ETFs.
Globally, there are at least four silver ETFs with AUM of more than $ 1 billion. iShares Silver Trust world’s biggest silver ETF has AUM of over $12 billion.
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