2016 marks the 10th anniversary of iShares Silver Trust.

With more than 330 million ounces of silver valued at over $5.5 billion in U.S. dollars held, the trust is now recognized as the world's largest investment product backed by silver, according to The Silver Institute.

According to The Silver Insitute, the trust provides exposure to the day-to-day movement of the price of silver bullion and uses the London Bullion Market Association silver pPrice as its benchmark.

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"Today, iShares Silver Trust accounts for 94 percent of silver holdings in ETPs [exchange traded products] held by U.S. investors and 52 percent of holdings in ETPs held globally," according to The Silver Insitute.

For more information, visit The Silver Institute's latest article on iShares Silver Trust here.