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LONDON - iShares Physical Metals Plc announced the issuance of 516,312 securities of its iShares Physical Silver ETC, representing Tranche Number 960 of the series. The securities were issued on November 12, 2025, according to a statement released Tuesday.
The new tranche brings the total number of securities in the series to 62,395,740, up from 61,879,428 prior to the issuance. The securities were issued at a price of $47.680444 with a metal entitlement of 0.952846575 troy ounces of silver per security.
The iShares Physical Silver ETC trades on the London Stock Exchange and provides investors with exposure to physical silver without requiring them to take physical delivery of the metal. Each security represents an entitlement to a specific amount of allocated silver held in custody.
The securities carry a total expense ratio of 0.20% per annum, which is applied to the metal entitlement on a daily basis. This results in a daily reduction of the amount of metal each security represents.
The ETCs are secured, limited recourse obligations of the issuer, with the underlying silver held in allocated form by a custodian. The securities have no final maturity date and are classified as open-ended.
According to the press release, the maximum issue size for the series is capped at 300 billion units. The ISIN code for the securities is IE00B4NCWG09.
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