abrdn Silver ETF Trust filed its Form 10-Q for the quarterly period ended September 30, 2026, reporting a net asset value per share of $57.67 and total net assets of approximately $4.259 billion as of that date.

Key Highlights

  • Net assets: Total net assets were $4,259,168 thousand at September 30, 2026, down from $5,430,232 thousand at December 31, 2025.
  • NAV per share: Net asset value per share was $57.67 at September 30, 2026, compared to $68.52 at December 31, 2025.
  • Shares outstanding: 73,850,000 shares were issued and outstanding at September 30, 2026, down from 79,250,000 at December 31, 2025.
  • Silver holdings: The Trust held 70,150,099.1 ounces of silver at September 30, 2026, with a fair value of $4,260,215 thousand and a cost basis of $2,836,581 thousand.
  • Nine-month operations: The change in net assets from operations for the nine months ended September 30, 2026 was a loss of $721,170 thousand, driven by a change in unrealized loss on investment in silver of $1,485,615 thousand.
  • Total return: Net asset value total return was (15.83)% for the nine months ended September 30, 2026 and 3.20% for the three months ended September 30, 2026, according to the filing.
  • Expense ratio: The net expense ratio was 0.30% (annualized), with a gross expense ratio of 0.45% before voluntary waiver.

abrdn Silver ETF Trust Financial Position and Operations for Q3 2026

According to the filing, the abrdn Silver ETF Trust (NYSE Arca:SIVR) reported total assets of $4,260,215 thousand at September 30, 2026, consisting entirely of its investment in silver. Total liabilities, representing fees payable to the Sponsor, stood at $1,047 thousand, leaving net assets of $4,259,168 thousand. This compares to net assets of $5,430,232 thousand at December 31, 2025, reflecting a decline over the nine-month period.

The Trust's silver holdings decreased from 75,449,456.7 ounces at December 31, 2025 to 70,150,099.1 ounces at September 30, 2026, the filing disclosed. During the nine months ended September 30, 2026, the Trust recorded creations of 13,500,000 shares totaling $983,728 thousand and redemptions of 18,900,000 shares totaling $1,433,622 thousand. The net investment loss for the nine-month period was $11,366 thousand, offset partly by realized gains on silver transferred to pay expenses of $5,720 thousand and realized gains on silver distributed for redemptions of $770,091 thousand.

For the three months ended September 30, 2026, the Trust reported a change in net assets from operations of $113,595 thousand, with a net increase in net assets per share of $1.58. The weighted average number of shares outstanding during the nine-month period was 73,652,747, the filing stated. The Sponsor's fee for the nine months ended September 30, 2026 was $17,049 thousand, reduced by a voluntary waiver of $5,683 thousand, resulting in total net expenses of $11,366 thousand. As of November 5, 2026, the Trust had 71,600,000 shares outstanding, according to the filing.

What Was Disclosed

The Trust filed its quarterly report covering the period ended September 30, 2026, disclosing silver holdings, net assets, share activity, expense ratios, and per-share performance figures for the three- and nine-month periods, all on an unaudited basis.