Biggest Discount Since 2008 Opens Up in $16 Billion Silver ETF (Bloomberg)

BlackRock Inc.’s $16.2 billion iShares Silver Trust exchange-traded fund, ticker SLV, plunged 14% on Tuesday alongside spot prices. However, the ETF tracks the London Bullion Market Association’s silver price — which is calculated once a day at an auction and was little changed. The result was a more than 11% discount between SLV and its underlying holdings as the ETF sold off more quickly.