Loading ...“Sprott Asset Management has announced that it is planning to raise $500 million for a publicly traded silver ETF that will only invest in physical bullion trading under the symbol PSLV. Sprott already has a similar gold ETF that trades at a large premium to the price of gold – perhaps because investors truly believe that it is backed by the physical metal. Both the gold ETF (GLD) and silver ETF (SLV) have been questioned for their ownership of the physical gold and silver bullion. Interestingly, JPM is the custodian of the SLV silver ETF. Given Sprott’s solid record, there is a possibility of mass redemption from the questionable SLV ETF by investors who reallocate into PSLV. ”
http://news.silverseek.com/SilverSeek/1288625817.php
“3) Safety. The Royal Canadian Mint stores bullion for the Sprott trust. As Sprott writes on its web site, “The Mint is a Canadian Crown corporation, which acts as an agent of the Canadian Government, and its obligations generally constitute unconditional obligations of the Canadian Government.” SLV’s bullion is stored and managed by a private company (JP Morgan Chase: NYSE:JPM) with no government backing (unless, of course, you count the tacit promise of a bailout when times get tough).”
http://tradingstocks.me/pslv-vs-slv-battle-of-the-silver-etfs/