iShares Silver Trust
1,077 hedge funds and large institutions have $5.42B invested in iShares Silver Trust in 2025 Q2 according to their latest regulatory filings, with 164 funds opening new positions, 361 increasing their positions, 280 reducing their positions, and 86 closing their positions.
91% more first-time investments, than exits
New positions opened: 164 | Existing positions closed: 86
84% more call options, than puts
Call options by funds: $9.31B | Put options by funds: $5.06B
29% more repeat investments, than reductions
Existing positions increased: 361 | Existing positions reduced: 280
7% more funds holding
Funds holding: 1,011 → 1,077 (+66)
4% more capital invested
Capital invested by funds: $5.21B → $5.42B (+$209M)
2.97% less ownership
Funds ownership: 34.13% → 31.16% (-3%)
19% less funds holding in top 10
Funds holding in top 10: 31 → 25 (-6)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$167M |
| 2 |
NM
NWI Management
New York
|
+$55.2M |
| 3 |
Morgan Stanley
New York
|
+$44.9M |
| 4 |
Wells Fargo
San Francisco,
California
|
+$31M |
| 5 |
SCB
Saudi Central Bank
Riyadh,
Saudi Arabia
|
+$28.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$754M |
| 2 |
BNP Paribas Financial Markets
Paris,
France
|
-$47.9M |
| 3 |
SG Americas Securities
New York
|
-$28.6M |
| 4 |
QC
Quadrature Capital
London,
United Kingdom
|
-$26M |
| 5 |
IMC Chicago
Chicago,
Illinois
|
-$22.8M |
SLV Hedge Fund Activity: Q2 2025 in Review
1,077 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in iShares Silver Trust (SLV) for Q2 2025, worth a combined $5.42B — up 4% from $5.21B a quarter earlier.
Buyers outnumbered sellers: 164 funds opened new SLV positions and 86 closed out — a net gain of 78 holders — while 361 added to existing stakes and 280 trimmed.
The largest buyer was UBS Group, adding an estimated $167M. The largest seller was Jane Street, cutting an estimated $754M.
- 1,077 institutional investors held iShares Silver Trust (SLV) as of Q2 2025, up from 1,011 in Q1 2025.
- Funds reported $5.42B of iShares Silver Trust stock for Q2 2025, up 4% quarter-over-quarter.
- 164 funds opened new iShares Silver Trust positions in Q2 2025 and 86 closed out, a net change of +78 holders.
- The largest iShares Silver Trust buyer in Q2 2025 was UBS Group, an estimated $167M added.
- The largest iShares Silver Trust seller in Q2 2025 was Jane Street, an estimated $754M sold.
Based on aggregated 13F filings for Q2 2025.