On Monday, the iShares Silver Trust (SLV) suffered its steepest single-day percentage drop since 2019, plunging 12.4% on volume surging to 85 million shares, more than double its 30-day average. Assets under management fell by $1.2 billion, slipping from $11.8 billion at Friday’s close to $10.6 billion by end of day. Investors cited a sudden shift in speculative activity as the catalyst behind the historic sell-off.

Trading on Tuesday saw SLV rally 5.7% as bargain hunters reentered the market, driving volume up 45% relative to the prior five-day average. Market makers reported that more than 40 million shares changed hands in the first hour of trading, reversing much of Monday’s turmoil. By midday, SLV had recouped over half of its losses, while AUM rebounded by $600 million, reflecting renewed investor confidence in the silver ETF structure.

Data from fund flow trackers show SLV attracted $350 million of net inflows on Tuesday, the largest single‐day haul since early last quarter. Option open interest around SLV rose 18%, with call volume outpacing puts by a three-to-one margin. Analysts at a major brokerage noted that institutional holdings jumped to 38.2% of total shares outstanding, up from 31.7% just before Monday’s collapse, suggesting that large asset managers have seized the volatility as a long-term opportunity.