Sprott Asset Management launches silver miners and physical silver ETF
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E-mail(Reuters) - Sprott Asset Management LP on Wednesday launched its silver miners and physical silver exchange-traded fund, the latest addition to its critical materials ETFs.
The Sprott Silver Miners & Physical Silver ETF aims to track the performance of the Nasdaq Sprott Silver Miners Index by investing at least 80% of its total assets in the index's securities, the company said.
The index includes securities of silver producers, developers and explorers, as well as physical silver.
"We believe silver and its miners have significant investment potential, as silver is both a precious metal and an industrial metal critical to new energy," the company's CEO John Ciampaglia said.
Spot silver was up more than 1% at $30.3 per ounce on Wednesday after ending 2024 21.5% higher. [GOL/]
(Reporting by Noel John in Bengaluru; Editing by Jan Harvey)
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