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Decks cleared for the launch of silver ETFs as Sebi notifies norms

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

ETFs | silver ETFs

BS Reporter  |  Mumbai 

exchange-traded funds, etfs, mutual funds, MFs, assets under management, AUM, INVESTORS, investment
Illustration: Binay Sinha

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 board at its meeting held in September had approved MFs to launch silver Currently, MFs offer only gold-based in the commodity space. Silver will have similar safeguards as that in the existing regulatory mechanism for Gold ETFs.

Globally, there are at least four 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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First Published: Thu, November 11 2021. 19:28 IST