The iShares Silver Trust (SIL) saw its highest single-day trading volume in eight years after silver spot prices eclipsed the $100 per ounce threshold. Volume on the ETF jumped by 320%, with over 45 million shares exchanging hands. Market makers reported heightened demand for both institutional and retail-sized creation units, pushing SIL’s intraday premium to its widest level in 2026. The ETF’s bid-ask spread narrowed to an average of 0.05%, reflecting robust liquidity as investors scrambled to secure exposure to the metal’s historic rally.

SIL recorded net inflows totaling $625 million over the past five trading sessions, marking its largest weekly capital intake since early 2020. Total assets under management now stand at $12.4 billion, up 18% year-to-date. Custodian data show that European and Middle Eastern sovereign wealth funds accounted for 40% of the latest inflows, while U.S.-based hedge funds contributed another 35%. This influx has prompted BlackRock to authorize the creation of an additional 8 million shares to meet escalating demand and maintain tight tracking of the underlying bullion holdings.

Analysts covering hard-asset ETFs have upgraded their outlook on SIL, forecasting an average 20% gain over the next month. Consensus price forecasts imply silver could reach $124 per ounce, translating to a proportional increase in SIL’s net asset value. Strategists cite growing industrial usage in electric vehicles, enhanced jewelry demand in Asia, and central bank purchases as primary drivers. One senior commodities strategist highlighted that SIL’s roll yield advantage over futures-based products will further bolster its relative performance if backwardation in silver futures persists.