<SEC-DOCUMENT>0001437749-18-019631.txt : 20181106
<SEC-HEADER>0001437749-18-019631.hdr.sgml : 20181106
<ACCEPTANCE-DATETIME>20181106120122
ACCESSION NUMBER:		0001437749-18-019631
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		42
CONFORMED PERIOD OF REPORT:	20180930
FILED AS OF DATE:		20181106
DATE AS OF CHANGE:		20181106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			iShares Silver Trust
		CENTRAL INDEX KEY:			0001330568
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32863
		FILM NUMBER:		181162154

	BUSINESS ADDRESS:	
		STREET 1:		400 HOWARD STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94105
		BUSINESS PHONE:		415-670-2000

	MAIL ADDRESS:	
		STREET 1:		400 HOWARD STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94105
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>slv20180930_10q.htm
<DESCRIPTION>FORM 10-Q
<TEXT>
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<div contenteditable="false" docsect="3" id="33663" sectdesc="Table of Contents">&nbsp;</div>

<p style="margin: 0pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><a href="#toc" style="-sec-extract:exhibit;">Table of Contents</a></p>

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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 18pt; margin: 0pt; text-align: center;"><b>UNITED STATES</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 18pt; margin: 0pt; text-align: center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Washington, D.C. 20549</b></p>

<p style="margin: 0pt;">&nbsp;</p>

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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 18pt; margin: 0pt; text-align: center;"><b>FORM 10-Q</b></p>

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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

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			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;">&#9746;</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><font style="text-transform: uppercase; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><b>Quarterly report pursuant to Section 13 or 15(</b></font><font style="font-family:Arial,Helvetica,sans-serif;font-size:12pt;"><b>d</b></font><font style="text-transform: uppercase; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><b>) of the Securities Exchange Act of</b><b> 1934</b></font></p>
			</td>
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		<tr>
			<td style="width: 36pt;">&nbsp;</td>
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>For the quarterly period ended September 30, 2018</b></td>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>or</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>&nbsp;</b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

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			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><font style="text-transform: uppercase; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;">&#9744; </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><font style="text-transform: uppercase; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><b>Transition report pursuant to Section 13 or 15(</b></font><font style="font-family:Arial,Helvetica,sans-serif;font-size:12pt;"><b>d</b></font><font style="text-transform: uppercase; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><b>) of the Securities Exchange Act of </b><b>1934</b></font></p>
			</td>
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		<tr>
			<td style="width: 36pt;">&nbsp;</td>
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>For the transition period from ________ to ________</b></td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Commission File Number: 001-32863</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;</p>

<hr style="text-align: center; height: 1px; color: #000000; background-color: #000000; width: 15%; border: none; margin: 3pt auto">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 18pt; margin: 0pt; text-align: center;"><b>iShares<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">&reg;</font> Silver Trust</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>(Exact name of registrant as specified in its charter)</b></p>

<hr style="text-align: center; height: 1px; color: #000000; background-color: #000000; width: 15%; border: none; margin: 3pt auto">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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			<td style="vertical-align: top; width: 45%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>New York</b></p>
			</td>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 45%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>13-7474456</b></p>
			</td>
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			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>(State or other jurisdiction of</b></p>
			</td>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 45%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>(I.R.S. Employer</b></p>
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			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>incorporation or organization)</b></p>
			</td>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 45%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>Identification No.)</b></p>
			</td>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>&nbsp;</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>c/o iShares Delaware Trust Sponsor LLC</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>400 Howard Street</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>San Francisco, California 94105</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Attn: Product Management Team</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>iShares Product Research &amp; Development</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>(Address of principal executive offices)(Zip Code)</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>&nbsp;</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>(415) 670-2000</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>(Registrant&rsquo;s telephone number, including area code)</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;">&nbsp;</p>

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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>N/A</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>(Former name, former address and former fiscal year, if changed since last report)&nbsp;</b></p>

<hr style="text-align: center; height: 1px; color: #000000; background-color: #000000; width: 15%; border: none; margin: 3pt auto">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes &#9746;&nbsp;No&nbsp;&#9744;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes&nbsp;&#9746;&nbsp;No&nbsp;&#9744;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth company&rdquo;&nbsp;in Rule 12b-2 of the Exchange Act.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

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			<td style="width: 33%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Large accelerated filer&nbsp; &#9746;</td>
			<td style="width: 33%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Accelerated filer&nbsp;&nbsp;&#9744;</td>
			<td style="width: 33%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Non-accelerated filer&nbsp;&nbsp;&#9744;</td>
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Smaller reporting company&nbsp;&nbsp;&#9744;</td>
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Emerging growth company&nbsp;&nbsp;&#9744;</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&#9744;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes &#9744;&nbsp;No&nbsp;&#9746;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;</p>

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<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div contenteditable="false" docsect="3" id="33664" sectdesc="Table of Contents">&nbsp;</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><a id="toc" name="toc"></a>Table of Contents</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;</p>

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			<td colspan="2" style="vertical-align: bottom; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; text-align: right;"><u><b>Page</b></u></td>
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			<td colspan="2" style="vertical-align: bottom; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#part1" style="-sec-extract:exhibit;">PART I &ndash; FINANCIAL INFORMATION</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 1.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#item1" style="-sec-extract:exhibit;">Financial Statements (Unaudited)</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">1</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#assets" style="-sec-extract:exhibit;">Statements of Assets and Liabilities at September 30, 2018 and December 31, 2017</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">1</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#stmntops" style="-sec-extract:exhibit;">Statements of Operations for the three and nine months ended September 30, 2018 and 2017</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">2</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#netassets" style="-sec-extract:exhibit;">Statements of Changes in Net Assets for the nine months ended September 30, 2018 and the year ended December 31, 2017</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">3</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#cashflows" style="-sec-extract:exhibit;">Statements of Cash Flows for the nine months ended September 30, 2018 and 2017</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">4</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#scheds" style="-sec-extract:exhibit;">Schedules of Investments at September 30, 2018 and December 31, 2017</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">5</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#notes" style="-sec-extract:exhibit;">Notes to Financial Statements</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">6</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 2.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#item2" style="-sec-extract:exhibit;">Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">10</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 3.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#item3" style="-sec-extract:exhibit;">Quantitative and Qualitative Disclosures About Market Risk</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">11</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 4.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#item4" style="-sec-extract:exhibit;">Controls and Procedures</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">11</p>
			</td>
		</tr>
		<tr>
			<td colspan="2" style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="2" style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#part2" style="-sec-extract:exhibit;">PART II &ndash; OTHER INFORMATION</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr>
			<td colspan="2" style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 1.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#legal" style="-sec-extract:exhibit;">Legal Proceedings</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">12</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 1A.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#risk" style="-sec-extract:exhibit;">Risk Factors</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">12</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 2.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#saleseq" style="-sec-extract:exhibit;">Unregistered Sales of Equity Securities and Use of Proceeds</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">12</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 3.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#defaults" style="-sec-extract:exhibit;">Defaults Upon Senior Securities</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">12</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 4.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#mine" style="-sec-extract:exhibit;">Mine Safety Disclosures</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">12</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 5.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#other" style="-sec-extract:exhibit;">Other Information</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">12</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Item 6.</p>
			</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#exhibits" style="-sec-extract:exhibit;">Exhibits</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">13</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="2" style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#sigs" style="-sec-extract:exhibit;">SIGNATURES</a></p>
			</td>
			<td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;">14</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div contenteditable="false" docsect="4" id="33665" sectdesc="Balance Sheet">&nbsp;</div>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 98.7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><a id="part1" name="part1"></a>PART I &ndash;&nbsp;FINANCIAL INFORMATION</b></p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 97.4%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;"><b>&nbsp;</b></p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 98.7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;"><b><a id="item1" name="item1"></a>Item 1. Financial Statements</b></p>
			</td>
		</tr>
		<tr>
			<td colspan="1" style="vertical-align: bottom; width: 98.7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr>
			<td colspan="1" style="vertical-align: bottom; width: 98.7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 98.7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: center; text-indent: -10.8pt;"><b><a id="assets" name="assets"></a>iShares Silver Trust</b></p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 98.7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: center; text-indent: -10.8pt;"><b>Statements of Assets and Liabilities (Unaudited) </b></p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 98.7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">At September 30, 2018 and December 31, 2017</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div data-td-statement-type="balance-sheet" data-td-taggable-table="" data-td-v2v-id="1540489463892" id="thunderdome-statement-1008893">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>September 30,</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>December 31,</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2018</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2017</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;"><b>Assets</b></p>
			</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B3" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&nbsp;</b></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B4" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&nbsp;</b></td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Investment in silver bullion, at fair value<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272349" style="font-weight: inherit; font-style: normal;">4,764,234,916</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272350" style="font-weight: inherit; font-style: normal;">5,407,419,250</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total Assets</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272351" style="font-weight: inherit; font-style: normal;">4,764,234,916</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272352" style="font-weight: inherit; font-style: normal;">5,407,419,250</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 70%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;"><b>Liabilities</b></p>
			</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B3" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&nbsp;</b></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B4" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&nbsp;</b></td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Sponsor&rsquo;s fees payable</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272353" style="font-weight: inherit; font-style: normal;">1,960,217</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272354" style="font-weight: inherit; font-style: normal;">2,225,399</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total Liabilities</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272355" style="font-weight: inherit; font-style: normal;">1,960,217</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272356" style="font-weight: inherit; font-style: normal;">2,225,399</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 70%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;">Commitments and contingent liabilities (Note 6)</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272357" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272358" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 70%;">&nbsp;</td>
			<td id=".lead.B3" style="padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="border-bottom: 1px solid rgb(0, 0, 0); width: 12%;">&nbsp;</td>
			<td id=".trail.B3" style="padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="border-bottom: 1px solid rgb(0, 0, 0); width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="padding-bottom: 1px; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;"><b>Net Assets</b></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272359" style="font-weight: inherit; font-style: normal;">4,762,274,699</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272360" style="font-weight: inherit; font-style: normal;">5,405,193,851</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 70%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;">Shares issued and outstanding<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272361" style="font-weight: inherit; font-style: normal;">354,250,000</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272362" style="font-weight: inherit; font-style: normal;">339,750,000</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;">Net asset value per Share (Note 2C)</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272363" style="font-weight: inherit; font-style: normal;">13.44</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272364" style="font-weight: inherit; font-style: normal;">15.91</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0">
<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Arial, Helvetica, sans-serif;">

		<tr style="font-size: 10pt;">
			<td colspan="1" style="vertical-align: top; width: 2.6%; font-size: 10pt;">
			<p style="font-size: 10pt; margin: 0pt; font-family: Arial, Helvetica, sans-serif;"><font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</font></p>
			</td>
			<td colspan="1" style="vertical-align: bottom; width: 80.5%; font-size: 10pt;">
			<p style="font-size: 8pt; margin: 0pt;">Cost of investment in silver bullion: $5,939,485,807 and $5,831,748,196, respectively.</p>
			</td>
		</tr>
		<tr style="font-size: 10pt;">
			<td colspan="1" style="vertical-align: top; width: 2.6%; font-size: 10pt;">
			<p style="font-size: 10pt; margin: 0pt; font-family: Arial, Helvetica, sans-serif;"><font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</font></p>
			</td>
			<td colspan="1" style="vertical-align: bottom; width: 80.5%; font-size: 10pt;">
			<p style="font-size: 8pt; margin: 0pt;">No par value, unlimited amount authorized.</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="2" style="vertical-align: bottom; width: 97.4%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>See notes to financial statements.</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>&nbsp;</i></p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">1</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div contenteditable="false" docsect="5" id="33666" sectdesc="Income Statement">&nbsp;</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b><a id="stmntops" name="stmntops"></a>iShares Silver Trust</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b>Statements of Operations (Unaudited)</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;">For the three and nine months ended September 30, 2018 and 2017</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<div data-td-statement-type="income" data-td-taggable-table="" data-td-v2v-id="1540489469210" id="thunderdome-statement-1008894">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="6" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>Three Months Ended</b></b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="6" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>Nine Months Ended </b></b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="6" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>September 30, </b></b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="6" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>September 30,</b></b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>2018</b></b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>2017</b></b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>2018</b></b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>2017</b></b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 52%;"><b>Expenses</b></td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".amt.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".amt.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".amt.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".amt.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Sponsor&rsquo;s fees</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272367" style="font-weight: inherit; font-style: normal;">6,235,371</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272368" style="font-weight: inherit; font-style: normal;">7,129,498</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272369" style="font-weight: inherit; font-style: normal;">19,371,652</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272370" style="font-weight: inherit; font-style: normal;">21,523,569</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total expenses</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272371" style="font-weight: inherit; font-style: normal;">6,235,371</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272372" style="font-weight: inherit; font-style: normal;">7,129,498</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272373" style="font-weight: inherit; font-style: normal;">19,371,652</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272374" style="font-weight: inherit; font-style: normal;">21,523,569</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net investment loss</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272375" style="font-weight: inherit; font-style: normal;">(6,235,371</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272376" style="font-weight: inherit; font-style: normal;">(7,129,498</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272377" style="font-weight: inherit; font-style: normal;">(19,371,652</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272378" style="font-weight: inherit; font-style: normal;">(21,523,569</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B2">&nbsp;</td>
			<td id=".symb.B2">&nbsp;</td>
			<td id=".amt.B2">&nbsp;</td>
			<td id=".trail.B2">&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Net Realized and Unrealized Gain (Loss)</b></td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".amt.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".amt.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".amt.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".amt.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&nbsp;</b></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-left: 18pt;">Net realized gain (loss) from:</td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Silver bullion sold to pay expenses</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;"><em data-td-fact-id="39272379" style="font-weight: inherit; font-style: normal;">(1,160,169</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;"><em data-td-fact-id="39272380" style="font-weight: inherit; font-style: normal;">(596,586</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;"><em data-td-fact-id="39272381" style="font-weight: inherit; font-style: normal;">(2,354,874</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;"><em data-td-fact-id="39272382" style="font-weight: inherit; font-style: normal;">(1,537,774</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Silver bullion distributed for the redemption of Shares</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272383" style="font-weight: inherit; font-style: normal;">(24,507,624</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272384" style="font-weight: inherit; font-style: normal;">(32,222,429</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272385" style="font-weight: inherit; font-style: normal;">(65,805,501</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272386" style="font-weight: inherit; font-style: normal;">(59,391,929</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net realized loss</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272387" style="font-weight: inherit; font-style: normal;">(25,667,793</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272388" style="font-weight: inherit; font-style: normal;">(32,819,015</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272389" style="font-weight: inherit; font-style: normal;">(68,160,375</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272390" style="font-weight: inherit; font-style: normal;">(60,929,703</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net change in unrealized appreciation/depreciation</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272391" style="font-weight: inherit; font-style: normal;">(538,368,056</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272392" style="font-weight: inherit; font-style: normal;">178,415,473</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272393" style="font-weight: inherit; font-style: normal;">(750,921,945</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272394" style="font-weight: inherit; font-style: normal;">298,932,277</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized and unrealized gain (loss)</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272395" style="font-weight: inherit; font-style: normal;">(564,035,849</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272396" style="font-weight: inherit; font-style: normal;">145,596,458</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272397" style="font-weight: inherit; font-style: normal;">(819,082,320</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272398" style="font-weight: inherit; font-style: normal;">238,002,574</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B2">&nbsp;</td>
			<td id=".symb.B2">&nbsp;</td>
			<td id=".amt.B2">&nbsp;</td>
			<td id=".trail.B2">&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net increase (decrease) in net assets resulting from operations</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272399" style="font-weight: inherit; font-style: normal;">(570,271,220</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272400" style="font-weight: inherit; font-style: normal;">138,466,960</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272401" style="font-weight: inherit; font-style: normal;">(838,453,972</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272402" style="font-weight: inherit; font-style: normal;">216,479,005</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B2">&nbsp;</td>
			<td id=".symb.B2">&nbsp;</td>
			<td id=".amt.B2">&nbsp;</td>
			<td id=".trail.B2">&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net increase (decrease) in net assets per Share<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;"><em data-td-fact-id="39272403" style="font-weight: inherit; font-style: normal;">(1.63</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;"><em data-td-fact-id="39272404" style="font-weight: inherit; font-style: normal;">0.39</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;"><em data-td-fact-id="39272405" style="font-weight: inherit; font-style: normal;">(2.45</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 7.2pt;"><em data-td-fact-id="39272406" style="font-weight: inherit; font-style: normal;">0.61</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<hr style="text-align: left;height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0pt;">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 3%;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</font></p>
			</td>
			<td style="width: 97%;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">Net increase (decrease) in net assets per Share based on average shares outstanding during the period.</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 97.4%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>See notes to financial statements.</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>&nbsp;</i></p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">2</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div contenteditable="false" docsect="7" id="33667" sectdesc="Stockholders' Equity">&nbsp;</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b><a id="netassets" name="netassets"></a>iShares Silver Trust</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b>Statements of Changes in Net Assets (Unaudited)</b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">For the nine months ended September 30, 2018 and the year ended December 31, 2017</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div data-td-statement-type="stockholders-equity" data-td-taggable-table="" data-td-v2v-id="1540489475863" id="thunderdome-statement-1008895">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Nine Months Ended</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Year Ended</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>September 30, 2018</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>December 31, 2017</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Net Assets, Beginning of Period</b></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272410" style="font-weight: inherit; font-style: normal;">5,405,193,851</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272411" style="font-weight: inherit; font-style: normal;">5,541,130,643</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 64%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;"><b>Operations:</b></td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 15%;"><b>&nbsp;</b></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 15%;"><b>&nbsp;</b></td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272412" style="font-weight: inherit; font-style: normal;">(19,371,652</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272413" style="font-weight: inherit; font-style: normal;">(28,299,587</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net realized loss</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272414" style="font-weight: inherit; font-style: normal;">(68,160,375</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272415" style="font-weight: inherit; font-style: normal;">(92,120,817</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net change in unrealized appreciation/depreciation</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272416" style="font-weight: inherit; font-style: normal;">(750,921,945</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272417" style="font-weight: inherit; font-style: normal;">337,891,452</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net increase (decrease) in net assets resulting from operations</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272418" style="font-weight: inherit; font-style: normal;">(838,453,972</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272419" style="font-weight: inherit; font-style: normal;">217,471,048</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 64%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="width: 64%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;"><b>Capital Share Transactions:</b></td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 15%;"><b>&nbsp;</b></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 15%;"><b>&nbsp;</b></td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Contributions for Shares issued</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272420" style="font-weight: inherit; font-style: normal;">880,252,487</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272421" style="font-weight: inherit; font-style: normal;">873,170,446</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Distributions for Shares redeemed</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272422" style="font-weight: inherit; font-style: normal;">(684,717,667</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272423" style="font-weight: inherit; font-style: normal;">(1,226,578,286</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net increase (decrease) in net assets from capital share transactions</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272424" style="font-weight: inherit; font-style: normal;">195,534,820</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272425" style="font-weight: inherit; font-style: normal;">(353,407,840</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 64%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Decrease in net assets</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272426" style="font-weight: inherit; font-style: normal;">(642,919,152</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272427" style="font-weight: inherit; font-style: normal;">(135,936,792</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 64%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Net Assets, End of Period</b></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272428" style="font-weight: inherit; font-style: normal;">4,762,274,699</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272429" style="font-weight: inherit; font-style: normal;">5,405,193,851</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 64%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 15%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">Shares issued and redeemed</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 15%;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 15%;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Shares issued</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272430" style="font-weight: inherit; font-style: normal;">58,600,000</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272431" style="font-weight: inherit; font-style: normal;">55,800,000</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Shares redeemed</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272432" style="font-weight: inherit; font-style: normal;">(44,100,000</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272433" style="font-weight: inherit; font-style: normal;">(75,950,000</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 64%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net increase (decrease) in Shares issued and outstanding</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272434" style="font-weight: inherit; font-style: normal;">14,500,000</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272435" style="font-weight: inherit; font-style: normal;">(20,150,000</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
		</tr>

</table>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>See notes to financial statements.</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>&nbsp;</i></p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">3</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div contenteditable="false" docsect="8" id="33668" sectdesc="Cash Flows">&nbsp;</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b><a id="cashflows" name="cashflows"></a>iShares Silver Trust</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b>Statements of Cash Flows (Unaudited)</b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">For the nine months ended September 30, 2018 and 2017</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div data-td-statement-type="cash-flows" data-td-taggable-table="" data-td-v2v-id="1540489480327" id="thunderdome-statement-1008896">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="6" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 112111%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Nine Months Ended<br>
			September 30, </b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2018</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2017</b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;"><b>Cash Flows from Operating Activities</b></p>
			</td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B4" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&nbsp;</b></td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B5" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&nbsp;</b></td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Proceeds from silver bullion sold to pay expenses</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272439" style="font-weight: inherit; font-style: normal;">19,636,834</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272440" style="font-weight: inherit; font-style: normal;">21,537,444</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Expenses &ndash; Sponsor&rsquo;s fees paid</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272441" style="font-weight: inherit; font-style: normal;">(19,636,834</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272442" style="font-weight: inherit; font-style: normal;">(21,537,444</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net cash provided by operating activities</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272443" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272444" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Increase (decrease) in cash</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272445" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272446" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Cash, beginning of period</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272447" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272448" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Cash, end of period</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272449" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272450" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="width: 70%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B5" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B5" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;"><b>Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations to Net Cash Provided by (Used in) Operating Activities</b></p>
			</td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B4" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&nbsp;</b></td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
			<td id=".amt.B5" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&nbsp;</b></td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&nbsp;</b></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net increase (decrease) in net assets resulting from operations</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272451" style="font-weight: inherit; font-style: normal;">(838,453,972</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272452" style="font-weight: inherit; font-style: normal;">216,479,005</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;">Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:</p>
			</td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 29pt; text-align: left; text-indent: -10.8pt;">Proceeds from silver bullion sold to pay expenses</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272453" style="font-weight: inherit; font-style: normal;">19,636,834</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272454" style="font-weight: inherit; font-style: normal;">21,537,444</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 29pt; text-align: left; text-indent: -10.8pt;">Net realized (gain) loss</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272455" style="font-weight: inherit; font-style: normal;">68,160,375</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272456" style="font-weight: inherit; font-style: normal;">60,929,703</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 29pt; text-align: left; text-indent: -10.8pt;">Net change in unrealized appreciation/depreciation</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272457" style="font-weight: inherit; font-style: normal;">750,921,945</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272458" style="font-weight: inherit; font-style: normal;">(298,932,277</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%; padding-left: 18pt;">Change in operating assets and liabilities:</td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Sponsor&rsquo;s fees payable</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272459" style="font-weight: inherit; font-style: normal;">(265,182</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272460" style="font-weight: inherit; font-style: normal;">(13,875</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net cash provided by (used in) operating activities</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272461" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272462" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="width: 70%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 1%;">&nbsp;</td>
			<td id=".lead.B5" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="width: 12%;">&nbsp;</td>
			<td id=".trail.B5" style="width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 10.8pt; text-align: left; text-indent: -10.8pt;">Supplemental disclosure of non-cash information:</p>
			</td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 29pt; text-align: left; text-indent: -10.8pt;">Silver bullion contributed for Shares issued</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272463" style="font-weight: inherit; font-style: normal;">880,252,487</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272464" style="font-weight: inherit; font-style: normal;">649,149,108</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt; width: 70%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 29pt; text-align: left; text-indent: -10.8pt;">Silver bullion distributed for Shares redeemed</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272465" style="font-weight: inherit; font-style: normal;">(684,717,667</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><em data-td-fact-id="39272466" style="font-weight: inherit; font-style: normal;">(899,979,662</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>

</table>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>See notes to financial statements.</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>&nbsp;</i></p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">4</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33669" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489489101" id="thunderdome-statement-1008897">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><a id="scheds" name="scheds"></a>iShares Silver Trust</b></p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Schedules of Investments (Unaudited)</b></p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">At <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> September 30, 2018 </em>and <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017</em></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="10" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><u><b><em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;">September 30, 2018</em></b></u></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1540489489091" id="thunderdome-statement-1008898">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Description</b></p>
			</td>
			<td id=".lead.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Cost</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Fair Value</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272472" style="font-weight: inherit; font-style: normal;">333,046,831</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272473" style="font-weight: inherit; font-style: normal;">5,939,485,807</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272474" style="font-weight: inherit; font-style: normal;">4,764,234,916</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B2">&nbsp;</td>
			<td id=".symb.B2">&nbsp;</td>
			<td id=".amt.B2">&nbsp;</td>
			<td id=".trail.B2">&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total Investment &ndash; 100.04%</p>
			</td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272475" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272476" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272477" style="font-weight: inherit; font-style: normal;">4,764,234,916</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less Liabilities &ndash;&nbsp;(0.04)%</p>
			</td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272478" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272479" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272480" style="font-weight: inherit; font-style: normal;">(1,960,217</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net Assets &ndash;&nbsp;100.00%</p>
			</td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272481" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272482" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272483" style="font-weight: inherit; font-style: normal;">4,762,274,699</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="10" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><u><b><em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;">December 31, 2017</em></b></u></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1540489489095" id="thunderdome-statement-1008899">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Description</b></p>
			</td>
			<td id=".lead.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Cost</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Fair Value</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272484" style="font-weight: inherit; font-style: normal;">320,629,662</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272485" style="font-weight: inherit; font-style: normal;">5,831,748,196</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272486" style="font-weight: inherit; font-style: normal;">5,407,419,250</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B2">&nbsp;</td>
			<td id=".symb.B2">&nbsp;</td>
			<td id=".amt.B2">&nbsp;</td>
			<td id=".trail.B2">&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total Investment &ndash;&nbsp;100.04%</p>
			</td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272487" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272488" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272489" style="font-weight: inherit; font-style: normal;">5,407,419,250</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less Liabilities &ndash;&nbsp;(0.04)%</p>
			</td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272490" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272491" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272492" style="font-weight: inherit; font-style: normal;">(2,225,399</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net Assets &ndash;&nbsp;100.00%</p>
			</td>
			<td id=".lead.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272493" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em data-td-fact-id="39272494" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272495" style="font-weight: inherit; font-style: normal;">5,405,193,851</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="margin: 0pt;">&nbsp;</p>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>See notes to financial statements.</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>&nbsp;</i></p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">5</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b><a id="notes" name="notes"></a>iShares</b> <b>Silver Trust</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b>Notes to Financial Statements (Unaudited)</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 7.5pt; text-align: center;"><b>September 30, 2018</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt;margin:0pt 7.5pt;text-align:center;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size:10pt;margin:0pt 7.5pt;text-align:center;">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33670" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489497227" id="thunderdome-statement-1008900">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272641" style="font-weight: inherit; font-style: normal;">1</em> </b><b>- Organization</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The iShares Silver Trust (the &ldquo;Trust&rdquo;) was organized on <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> April 21, 2006 </em>as a New York trust. The trustee is The Bank of New York Mellon (the &ldquo;Trustee&rdquo;), which is responsible for the day-to-day administration of the Trust. The Trust&rsquo;s sponsor is iShares Delaware Trust Sponsor LLC, a Delaware limited liability company (the &ldquo;Sponsor&rdquo;). The Trust is governed by the provisions of the Second Amended and Restated Depositary Trust Agreement (the &ldquo;Trust Agreement&rdquo;) executed by the Trustee and the Sponsor as of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 22, 2016. </em>The Trust issues units of beneficial interest (&ldquo;Shares&rdquo;) representing fractional undivided beneficial interests in its net assets.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust seeks to reflect generally the performance of the price of silver. The Trust seeks to reflect such performance before payment of the Trust&rsquo;s expenses and liabilities. The Trust is designed to provide a vehicle for investors to make an investment similar to an investment in silver.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The accompanying unaudited financial statements were prepared in accordance with generally accepted accounting principles in the United States of America (&ldquo;U.S. GAAP&rdquo;) for interim financial information and with the instructions for Form <em data-td-fact-id="39272642" style="font-weight: inherit; font-style: normal;">10</em>-Q and the rules and regulations of the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;). In the opinion of management, all material adjustments, consisting only of normal recurring adjustments considered necessary for a fair statement of the interim period financial statements, have been made. Interim period results are <em data-td-fact-id="39272643" style="font-weight: inherit; font-style: normal;">not</em> necessarily indicative of results for a full-year period. These financial statements and the notes thereto should be read in conjunction with the Trust&rsquo;s financial statements included in its Annual Report on Form&nbsp;<em data-td-fact-id="39272644" style="font-weight: inherit; font-style: normal;">10&#8209;K</em> for the year ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>as filed with the SEC on <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> February 28, 2018.</em></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust qualifies as an investment company solely for accounting purposes and <em data-td-fact-id="39272645" style="font-weight: inherit; font-style: normal;">not</em> for any other purpose and follows the accounting and reporting guidance under the Financial Accounting Standards Board Accounting Standards Codification Topic <em data-td-fact-id="39272646" style="font-weight: inherit; font-style: normal;">946,</em> <i>Financial Services - Investment Companies</i>, but is <em data-td-fact-id="39272647" style="font-weight: inherit; font-style: normal;">not</em> registered, and is <em data-td-fact-id="39272648" style="font-weight: inherit; font-style: normal;">not</em> required to be registered, as an investment company under the Investment Company Act of <em data-td-fact-id="39272649" style="font-weight: inherit; font-style: normal;">1940,</em> as amended.</p>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33671" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489504630" id="thunderdome-statement-1008901">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272650" style="font-weight: inherit; font-style: normal;">2</em> - Significant Accounting Policies</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>A.</i></p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>Basis of Accounting</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>B.</i></p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>Silver Bullion</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">JPMorgan Chase Bank N.A., London branch (the &ldquo;Custodian&rdquo;), is responsible for the safekeeping of silver bullion owned by the Trust.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Fair value of the silver bullion held by the Trust is based on the price per ounce of silver determined in an electronic auction hosted&nbsp;by&nbsp;ICE&nbsp;Benchmark Administration&nbsp;(&ldquo;IBA&rdquo;)&nbsp;that&nbsp;begins at <em data-td-fact-id="39272651" style="font-weight: inherit; font-style: normal;">12:00</em> p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such&nbsp;price,&nbsp;the &ldquo;LBMA Silver Price&rdquo;). If there is <em data-td-fact-id="39272652" style="font-weight: inherit; font-style: normal;">no</em> announced LBMA Silver Price on any day, the Trustee is authorized to use the most recently announced LBMA Silver Price unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate as a basis for evaluation. Prior to <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> October&nbsp;</em><em data-td-fact-id="39272653" style="font-weight: inherit; font-style: normal;">2,</em>&nbsp;<em data-td-fact-id="39272654" style="font-weight: inherit; font-style: normal;">2017,</em> the LBMA Silver Price was determined using an electronic auction administered by CME Group Inc. (&ldquo;CME&nbsp;Group&rdquo;) and published by Thomson Reuters. Effective as of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> October 2, 2017, </em>IBA replaced CME Group and Thomson Reuters as the administrator for the LBMA Silver Price and began administering the electronic auction for the LBMA Silver Price.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Gain or loss on sales of silver bullion is calculated on a trade date basis using the average cost method.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">6</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following tables summarize activity in silver bullion for the <em data-td-fact-id="39272655" style="font-weight: inherit; font-style: normal;">three</em> months ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> September 30, 2018 </em>and <em data-td-fact-id="39272656" style="font-weight: inherit; font-style: normal;">2017:</em></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1540489504603" id="thunderdome-statement-1008902">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 5%; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Three Months Ended September 30, 2018</b></p>
			</td>
			<td id=".lead.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br>
			<b><b>Cost</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Fair<br>
			Value</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Realized<br>
			Gain (Loss)</b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272496" style="font-weight: inherit; font-style: normal;">322,465,714</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272497" style="font-weight: inherit; font-style: normal;">5,806,008,238</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272498" style="font-weight: inherit; font-style: normal;">5,169,125,403</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272499" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272500" style="font-weight: inherit; font-style: normal;">19,467,176</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272501" style="font-weight: inherit; font-style: normal;">292,541,629</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272502" style="font-weight: inherit; font-style: normal;">292,541,629</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272503" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272504" style="font-weight: inherit; font-style: normal;">(8,462,245</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272505" style="font-weight: inherit; font-style: normal;">(151,456,941</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272506" style="font-weight: inherit; font-style: normal;">(126,949,317</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272507" style="font-weight: inherit; font-style: normal;">(24,507,624</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272508" style="font-weight: inherit; font-style: normal;">(423,814</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272509" style="font-weight: inherit; font-style: normal;">(7,607,119</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272510" style="font-weight: inherit; font-style: normal;">(6,446,950</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272511" style="font-weight: inherit; font-style: normal;">(1,160,169</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272512" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272513" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272514" style="font-weight: inherit; font-style: normal;">(25,667,793</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272515" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272516" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272517" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272518" style="font-weight: inherit; font-style: normal;">(538,368,056</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272519" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272520" style="font-weight: inherit; font-style: normal;">333,046,831</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272521" style="font-weight: inherit; font-style: normal;">5,939,485,807</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272522" style="font-weight: inherit; font-style: normal;">4,764,234,916</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272523" style="font-weight: inherit; font-style: normal;">(25,667,793</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
		</tr>

</table>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1540489504610" id="thunderdome-statement-1008903">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 5%; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Three Months Ended September 30, 2017</b></p>
			</td>
			<td id=".lead.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br>
			<b><b>Cost</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Fair<br>
			Value</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Realized<br>
			Gain (Loss)</b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272524" style="font-weight: inherit; font-style: normal;">339,605,211</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272525" style="font-weight: inherit; font-style: normal;">6,235,001,418</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272526" style="font-weight: inherit; font-style: normal;">5,593,297,824</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272527" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272528" style="font-weight: inherit; font-style: normal;">11,392,577</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272529" style="font-weight: inherit; font-style: normal;">180,668,658</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272530" style="font-weight: inherit; font-style: normal;">180,668,658</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272531" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272532" style="font-weight: inherit; font-style: normal;">(23,817,516</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272533" style="font-weight: inherit; font-style: normal;">(435,509,224</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272534" style="font-weight: inherit; font-style: normal;">(403,286,795</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272535" style="font-weight: inherit; font-style: normal;">(32,222,429</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272536" style="font-weight: inherit; font-style: normal;">(422,857</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272537" style="font-weight: inherit; font-style: normal;">(7,742,714</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272538" style="font-weight: inherit; font-style: normal;">(7,146,128</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272539" style="font-weight: inherit; font-style: normal;">(596,586</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272540" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272541" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272542" style="font-weight: inherit; font-style: normal;">(32,819,015</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272543" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272544" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272545" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272546" style="font-weight: inherit; font-style: normal;">178,415,473</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272547" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272548" style="font-weight: inherit; font-style: normal;">326,757,415</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272549" style="font-weight: inherit; font-style: normal;">5,972,418,138</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272550" style="font-weight: inherit; font-style: normal;">5,509,130,017</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272551" style="font-weight: inherit; font-style: normal;">(32,819,015</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
		</tr>

</table>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following tables summarize activity in silver bullion for the <em data-td-fact-id="39272657" style="font-weight: inherit; font-style: normal;">nine</em> months ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> September 30, 2018 </em>and <em data-td-fact-id="39272658" style="font-weight: inherit; font-style: normal;">2017:</em></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1540489504616" id="thunderdome-statement-1008904">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 5%; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Nine Months Ended September 30, 2018 </b></p>
			</td>
			<td id=".lead.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br>
			<b><b>Cost</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Fair<br>
			Value</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Realized<br>
			Gain (Loss)</b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272552" style="font-weight: inherit; font-style: normal;">320,629,662</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272553" style="font-weight: inherit; font-style: normal;">5,831,748,196</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272554" style="font-weight: inherit; font-style: normal;">5,407,419,250</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272555" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272556" style="font-weight: inherit; font-style: normal;">55,163,280</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272557" style="font-weight: inherit; font-style: normal;">880,252,487</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272558" style="font-weight: inherit; font-style: normal;">880,252,487</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272559" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272560" style="font-weight: inherit; font-style: normal;">(41,529,029</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272561" style="font-weight: inherit; font-style: normal;">(750,523,168</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272562" style="font-weight: inherit; font-style: normal;">(684,717,667</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272563" style="font-weight: inherit; font-style: normal;">(65,805,501</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272564" style="font-weight: inherit; font-style: normal;">(1,217,082</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272565" style="font-weight: inherit; font-style: normal;">(21,991,708</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272566" style="font-weight: inherit; font-style: normal;">(19,636,834</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272567" style="font-weight: inherit; font-style: normal;">(2,354,874</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272568" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272569" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272570" style="font-weight: inherit; font-style: normal;">(68,160,375</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272571" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272572" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272573" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272574" style="font-weight: inherit; font-style: normal;">(750,921,945</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272575" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272576" style="font-weight: inherit; font-style: normal;">333,046,831</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272577" style="font-weight: inherit; font-style: normal;">5,939,485,807</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272578" style="font-weight: inherit; font-style: normal;">4,764,234,916</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272579" style="font-weight: inherit; font-style: normal;">(68,160,375</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
		</tr>

</table>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1540489504622" id="thunderdome-statement-1008905">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 5%; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Nine Months Ended September 30, 2017 </b></p>
			</td>
			<td id=".lead.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br>
			<b><b>Cost</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Fair<br>
			Value</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Realized<br>
			Gain (Loss)</b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272580" style="font-weight: inherit; font-style: normal;">341,348,242</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272581" style="font-weight: inherit; font-style: normal;">6,305,715,839</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272582" style="font-weight: inherit; font-style: normal;">5,543,495,441</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272583" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272584" style="font-weight: inherit; font-style: normal;">38,888,176</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272585" style="font-weight: inherit; font-style: normal;">649,149,108</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272586" style="font-weight: inherit; font-style: normal;">649,149,108</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272587" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272588" style="font-weight: inherit; font-style: normal;">(52,224,977</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272589" style="font-weight: inherit; font-style: normal;">(959,371,591</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272590" style="font-weight: inherit; font-style: normal;">(899,979,662</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272591" style="font-weight: inherit; font-style: normal;">(59,391,929</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272592" style="font-weight: inherit; font-style: normal;">(1,254,026</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272593" style="font-weight: inherit; font-style: normal;">(23,075,218</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272594" style="font-weight: inherit; font-style: normal;">(21,537,444</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272595" style="font-weight: inherit; font-style: normal;">(1,537,774</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272596" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272597" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272598" style="font-weight: inherit; font-style: normal;">(60,929,703</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272599" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272600" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272601" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272602" style="font-weight: inherit; font-style: normal;">298,932,277</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272603" style="font-weight: inherit; font-style: normal;">&mdash;</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272604" style="font-weight: inherit; font-style: normal;">326,757,415</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272605" style="font-weight: inherit; font-style: normal;">5,972,418,138</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272606" style="font-weight: inherit; font-style: normal;">5,509,130,017</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272607" style="font-weight: inherit; font-style: normal;">(60,929,703</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
		</tr>

</table>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>C.</i></p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>Calculation of Net Asset Value</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">On each business day, as soon as practicable after <em data-td-fact-id="39272659" style="font-weight: inherit; font-style: normal;">4:00</em> p.m. (New York time), the net asset value of the Trust is obtained by subtracting all accrued fees, expenses and other liabilities of the Trust from the fair value of the silver and other assets held by the Trust. The Trustee computes the net asset value per Share by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">7</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>D. </i></p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>Offering of the Shares</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Trust Shares are issued and redeemed continuously in aggregations of <em data-td-fact-id="39272660" style="font-weight: inherit; font-style: normal;">50,000</em> Shares in exchange for silver bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the &ldquo;Authorized Participants&rdquo;). Holders of Shares of the Trust <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of <em data-td-fact-id="39272661" style="font-weight: inherit; font-style: normal;">50,000</em> Shares&#894; <i>provided</i>, that redemptions of Shares <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>be suspended during any period while regular trading on NYSE Arca, Inc. (&ldquo;NYSE Arca&rdquo;) is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of silver is <em data-td-fact-id="39272662" style="font-weight: inherit; font-style: normal;">not</em> reasonably practicable.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The per Share amount of silver exchanged for a purchase or redemption represents the per Share amount of silver held by the Trust, after giving effect to its liabilities.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">When silver bullion is exchanged in settlement of a redemption, it is considered a sale of silver bullion for accounting purposes.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>E.</i></p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><i>Federal Income Taxes</i></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust is treated as a grantor trust for federal income tax purposes and, therefore, <em data-td-fact-id="39272663" style="font-weight: inherit; font-style: normal;">no</em> provision for federal income taxes is required. Any interest, expenses, gains and losses are passed through to the holders of Shares of the Trust.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> September 30, 2018 </em>and does <em data-td-fact-id="39272664" style="font-weight: inherit; font-style: normal;">not</em> believe that there are any uncertain tax positions that require recognition of a tax liability.</p>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33672" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489510304" id="thunderdome-statement-1008906">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272665" style="font-weight: inherit; font-style: normal;">3</em> </b><b>- Trust Expenses</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust pays to the Sponsor a Sponsor&rsquo;s fee that accrues daily at an annualized rate equal to <em data-td-fact-id="39272666" style="font-weight: inherit; font-style: normal;">0.50%</em> of the net asset value of the Trust, paid monthly in arrears. The Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust: the Trustee&rsquo;s fee, the Custodian&rsquo;s fee, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and up to <em data-td-fact-id="39272667" style="font-weight: inherit; font-style: normal;">$100,000</em> per annum in legal fees and expenses.</p>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33673" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489515290" id="thunderdome-statement-1008907">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272668" style="font-weight: inherit; font-style: normal;">4</em> - Related Parties</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee&rsquo;s fee is paid by the Sponsor and is <em data-td-fact-id="39272669" style="font-weight: inherit; font-style: normal;">not</em> a separate expense of the Trust.</p>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33674" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489521471" id="thunderdome-statement-1008908">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272670" style="font-weight: inherit; font-style: normal;">5</em> - Indemnification</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust Agreement provides that the Sponsor and its shareholders, directors, officers, employees, affiliates and subsidiaries shall be indemnified by the Trust for any loss, liability or expense incurred by any such person that arises out of or in connection with the performance of obligations under the Trust Agreement or any actions taken in accordance with the provisions of the Trust Agreement, absent such person&rsquo;s negligence, bad faith, willful misconduct, willful malfeasance or reckless disregard of such person&rsquo;s duties and obligations.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust has agreed that the Custodian will only be responsible for any loss or damage suffered by the Trust as a direct result of the Custodian&rsquo;s negligence, fraud or willful default in the performance of its duties.</p>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33675" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489527057" id="thunderdome-statement-1008909">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272671" style="font-weight: inherit; font-style: normal;">6</em> - Commitments and Contingent Liabilities</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">In the normal course of business, the Trust <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>enter into contracts with service providers that contain general indemnification clauses. The Trust&rsquo;s maximum exposure under these arrangements is unknown as this would involve future claims that <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>be made against the Trust that have <em data-td-fact-id="39272672" style="font-weight: inherit; font-style: normal;">not</em> yet occurred.</p>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33676" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489534351" id="thunderdome-statement-1008910">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272673" style="font-weight: inherit; font-style: normal;">7</em> - Concentration Risk</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Substantially all of the Trust&rsquo;s assets are holdings of silver bullion, which creates a concentration risk associated with fluctuations in the price of silver. Accordingly, a decline in the price of silver will have an adverse effect on the value of the Shares of the Trust. Factors that <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>have the effect of causing a decline in the price of silver include a change in economic conditions (such as a recession), an increase in the hedging activities of silver producers, and changes in the attitude of speculators, investors and other market participants towards silver.</p>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">8</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div contenteditable="false" docsect="9" id="33677" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489542850" id="thunderdome-statement-1008911">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272674" style="font-weight: inherit; font-style: normal;">8</em> </b><b>- Financial Highlights</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following financial highlights relate to investment performance and operations for a Share outstanding for the <em data-td-fact-id="39272675" style="font-weight: inherit; font-style: normal;">three</em> and <em data-td-fact-id="39272676" style="font-weight: inherit; font-style: normal;">nine</em> months ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> September&nbsp;</em><em data-td-fact-id="39272677" style="font-weight: inherit; font-style: normal;">30,</em>&nbsp;<em data-td-fact-id="39272678" style="font-weight: inherit; font-style: normal;">2018</em> and <em data-td-fact-id="39272679" style="font-weight: inherit; font-style: normal;">2017.</em></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1540489542840" id="thunderdome-statement-1008912">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="6" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Three Months Ended<br>
			September 30,</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td>
			<td id=".lead.D6" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="6" id=".amt.D6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Nine Months Ended<br>
			September 30,</b></b></p>
			</td>
			<td id=".trail.D6" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2018</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2017</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2018</b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td>
			<td id=".lead.D6" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2017</b></b></p>
			</td>
			<td id=".trail.D6" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net asset value per Share, beginning of period</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272608" style="font-weight: inherit; font-style: normal;">15.08</em></td>
			<td id=".trail.3" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272609" style="font-weight: inherit; font-style: normal;">15.58</em></td>
			<td id=".trail.4" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272610" style="font-weight: inherit; font-style: normal;">15.91</em></td>
			<td id=".trail.5" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272611" style="font-weight: inherit; font-style: normal;">15.40</em></td>
			<td id=".trail.6" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="width: 48%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B5" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B5" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B6" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B6" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B6" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B6" style="width: 2%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272612" style="font-weight: inherit; font-style: normal;">(0.02</em></td>
			<td id=".trail.3" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272613" style="font-weight: inherit; font-style: normal;">(0.02</em></td>
			<td id=".trail.4" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272614" style="font-weight: inherit; font-style: normal;">(0.06</em></td>
			<td id=".trail.5" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272615" style="font-weight: inherit; font-style: normal;">(0.06</em></td>
			<td id=".trail.6" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net realized and unrealized gain (loss)<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272616" style="font-weight: inherit; font-style: normal;">(1.62</em></td>
			<td id=".trail.3" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272617" style="font-weight: inherit; font-style: normal;">0.36</em></td>
			<td id=".trail.4" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272618" style="font-weight: inherit; font-style: normal;">(2.41</em></td>
			<td id=".trail.5" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272619" style="font-weight: inherit; font-style: normal;">0.58</em></td>
			<td id=".trail.6" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net increase (decrease) in net assets from operations</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272620" style="font-weight: inherit; font-style: normal;">(1.64</em></td>
			<td id=".trail.3" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272621" style="font-weight: inherit; font-style: normal;">0.34</em></td>
			<td id=".trail.4" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272622" style="font-weight: inherit; font-style: normal;">(2.47</em></td>
			<td id=".trail.5" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="39272623" style="font-weight: inherit; font-style: normal;">0.52</em></td>
			<td id=".trail.6" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net asset value per Share, end of period</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272624" style="font-weight: inherit; font-style: normal;">13.44</em></td>
			<td id=".trail.3" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272625" style="font-weight: inherit; font-style: normal;">15.92</em></td>
			<td id=".trail.4" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272626" style="font-weight: inherit; font-style: normal;">13.44</em></td>
			<td id=".trail.5" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="39272627" style="font-weight: inherit; font-style: normal;">15.92</em></td>
			<td id=".trail.6" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="width: 48%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B5" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B5" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B6" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B6" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B6" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B6" style="width: 2%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total return, at net asset value<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)(d)</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272628" style="font-weight: inherit; font-style: normal;">(10.88</em></td>
			<td id=".trail.3" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272629" style="font-weight: inherit; font-style: normal;">2.18</em></td>
			<td id=".trail.4" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272630" style="font-weight: inherit; font-style: normal;">(15.52</em></td>
			<td id=".trail.5" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</p>
			</td>
			<td id=".lead.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272631" style="font-weight: inherit; font-style: normal;">3.38</em></td>
			<td id=".trail.6" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</p>
			</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="width: 48%;">&nbsp;</td>
			<td id=".lead.B3" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B3" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B4" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B4" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B5" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B5" style="width: 2%;">&nbsp;</td>
			<td id=".lead.B6" style="width: 1%;">&nbsp;</td>
			<td id=".symb.B6" style="width: 1%;">&nbsp;</td>
			<td id=".amt.B6" style="width: 9%;">&nbsp;</td>
			<td id=".trail.B6" style="width: 2%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">Ratio to average net assets:</td>
			<td id=".lead.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td>
			<td id=".lead.B6" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".amt.B6" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td>
			<td id=".trail.B6" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272632" style="font-weight: inherit; font-style: normal;">(0.50</em></td>
			<td id=".trail.3" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272633" style="font-weight: inherit; font-style: normal;">(0.50</em></td>
			<td id=".trail.4" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272634" style="font-weight: inherit; font-style: normal;">(0.50</em></td>
			<td id=".trail.5" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</p>
			</td>
			<td id=".lead.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272635" style="font-weight: inherit; font-style: normal;">(0.50</em></td>
			<td id=".trail.6" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</p>
			</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Expenses<font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272636" style="font-weight: inherit; font-style: normal;">0.50</em></td>
			<td id=".trail.3" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272637" style="font-weight: inherit; font-style: normal;">0.50</em></td>
			<td id=".trail.4" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272638" style="font-weight: inherit; font-style: normal;">0.50</em></td>
			<td id=".trail.5" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</p>
			</td>
			<td id=".lead.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="39272639" style="font-weight: inherit; font-style: normal;">0.50</em></td>
			<td id=".trail.6" nowrap="true" style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</p>
			</td>
		</tr>

</table>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</font></p>
			</td>
			<td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">Based on average Shares outstanding during the period.</p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</font></p>
			</td>
			<td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">The amounts reported for a Share outstanding <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em><em data-td-fact-id="39272680" style="font-weight: inherit; font-style: normal;">not</em> accord with the change in aggregate gains and losses on investment for the period due to the timing of Trust Share transactions in relation to the fluctuating fair values of the Trust&rsquo;s underlying investment.</p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)</font></p>
			</td>
			<td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">Based on the change in net asset value of a Share during the period.</p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(d)</font></p>
			</td>
			<td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">Percentage is <em data-td-fact-id="39272681" style="font-weight: inherit; font-style: normal;">not</em> annualized.</p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><font style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</font></p>
			</td>
			<td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">Percentage is annualized.</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="33678" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1540489553560" id="thunderdome-statement-1008913">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><em data-td-fact-id="39272682" style="font-weight: inherit; font-style: normal;">9</em> - Investment Valuation</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">U.S. GAAP defines fair value as the price the Trust would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Trust&rsquo;s policy is to value its investment at fair value.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Various inputs are used in determining the fair value of assets and liabilities. Inputs <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>be based on independent market data (&ldquo;observable inputs&rdquo;) or they <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>be internally developed (&ldquo;unobservable inputs&rdquo;). These inputs are categorized into a disclosure hierarchy consisting of <em data-td-fact-id="39272683" style="font-weight: inherit; font-style: normal;">three</em> broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The <em data-td-fact-id="39272684" style="font-weight: inherit; font-style: normal;">three</em> levels of the fair value hierarchy are as follows:</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 27pt;">&nbsp;</td>
			<td style="width: 45pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Level <em data-td-fact-id="39272685" style="font-weight: inherit; font-style: normal;">1</em> &ndash;</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Unadjusted quoted prices in active markets for identical assets or liabilities;</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 27pt;">&nbsp;</td>
			<td style="width: 45pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Level <em data-td-fact-id="39272686" style="font-weight: inherit; font-style: normal;">2</em> &ndash;</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Inputs other than quoted prices included within Level <em data-td-fact-id="39272687" style="font-weight: inherit; font-style: normal;">1</em> that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are <em data-td-fact-id="39272688" style="font-weight: inherit; font-style: normal;">not</em> considered to be active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 27pt;">&nbsp;</td>
			<td style="width: 45pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Level <em data-td-fact-id="39272689" style="font-weight: inherit; font-style: normal;">3</em> &ndash;</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Unobservable inputs that are unobservable for the asset or liability, including the Trust&rsquo;s assumptions used in determining the fair value of investments.</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">At <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> September 30, 2018 </em>and <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>the value of the silver bullion held by the Trust is categorized as Level <em data-td-fact-id="39272690" style="font-weight: inherit; font-style: normal;">1.</em></p>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">9</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="item2" name="item2"></a>Item 2. Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>This information should be read in conjunction with the financial statements and notes to financial statements included</i><i> in Item 1 of Part I of this&nbsp;</i><i>Form 10-Q. The discussion and analysis that follows may contain statements that relate to future events or future performance. In some cases, such forward-looking statements can be identified by terminology such as &ldquo;may,&rdquo; &ldquo;should,&rdquo; &ldquo;could,&rdquo; &ldquo;expect,&rdquo; &ldquo;plan,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;predict,&rdquo; &ldquo;potential&rdquo; or the negative of these terms or other comparable terminology. Except as required by applicable disclosure laws, neither the Sponsor, nor any other person assumes responsibility for the accuracy or completeness of any forward-looking statements. Neither the Trust nor the Sponsor is under a duty to update any of the forward-looking statements to conform such statements to actual results or to a change in the Sponsor&rsquo;s expectations or predictions.</i></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Introduction</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The iShares Silver Trust (the &ldquo;Trust&rdquo;) is a grantor trust formed under the laws of the State of New York. The Trust does not have any officers, directors, or employees, and is administered by The Bank of New York Mellon (the &ldquo;Trustee&rdquo;) acting as trustee pursuant to the Second Amended and Restated Depositary Trust Agreement (the &ldquo;Trust Agreement&rdquo;) between the Trustee and iShares Delaware Trust Sponsor LLC, the sponsor of the Trust (the &ldquo;Sponsor&rdquo;). The Trust issues units of beneficial interest (&ldquo;Shares&rdquo;) representing fractional undivided beneficial interests in its net assets. The assets of the Trust consist primarily of silver bullion held by a custodian as an agent of the Trust responsible only to the Trustee.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust is a passive investment vehicle and seeks to reflect generally the performance of the price of silver. The Trust seeks to reflect such performance before payment of the Trust&rsquo;s expenses and liabilities. The Trust does not engage in any activities designed to obtain a profit from, or ameliorate losses caused by, changes in the price of silver.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust issues and redeems Shares only in exchange for silver, only in aggregations of 50,000 Shares (a &ldquo;Basket&rdquo;) or integral multiples thereof, and only in transactions with registered broker-dealers that have previously entered into an agreement with the Sponsor and the Trustee governing the terms and conditions of such issuance (such broker-dealers, the &ldquo;Authorized Participants&rdquo;). A list of the current Authorized Participants is available from the Sponsor or the Trustee.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Shares of the Trust trade on NYSE Arca, Inc. under the ticker symbol SLV.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Valuation of </b><b>Silver Bullion; Computation of Net Asset Value</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">On each business day, as soon as practicable after 4:00 p.m. (New York time), the Trustee evaluates the silver held by the Trust and determines the net asset value and net asset value per Share (&ldquo;NAV&rdquo;) of the Trust. The Trustee values the silver held by the Trust using the price per ounce of silver determined in an electronic auction hosted by ICE Benchmark Administration (&ldquo;IBA&rdquo;) that begins at 12:00 p.m. (London time) and published shortly thereafter, on the day the valuation takes place (such price, the &ldquo;LBMA Silver Price&rdquo;). If there is no announced LBMA Silver Price on any day, the Trustee is authorized to use the most recently announced LBMA Silver Price unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate as a basis for evaluation. The LBMA Silver Price is used by the Trust because it is commonly used by the U.S. silver market as an indicator of the value of silver and is permitted to be used under the Trust Agreement. The use of an indicator of the value of silver bullion other than the LBMA Silver Price could result in materially different fair value pricing of the silver held by the Trust, and as such, could result in different cost or market adjustments or in different redemption value adjustments of the outstanding redeemable capital Shares. Having valued the silver held by the Trust, the Trustee adds other assets of the Trust then subtracts all accrued fees, expenses and other liabilities of the Trust from the fair value of the silver and other assets held by the Trust. The result is the net asset value of the Trust. The Trustee computes NAV by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made. Prior to October 2, 2017, the LBMA Silver Price was determined using an electronic auction administered by CME Group and published by Thomson Reuters. Effective as of October 2, 2017, IBA replaced CME Group and Thomson Reuters as the administrator for the LBMA Silver Price and began administering the electronic auction for the LBMA Silver Price.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Liquidity</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust is not aware of any trends, demands, conditions or events that are reasonably likely to result in material changes to its liquidity needs. In exchange for a fee, the Sponsor has agreed to assume most of the expenses incurred by the Trust. As a result, the only ordinary expense of the Trust during the period covered by this report was the Sponsor&rsquo;s fee. The Trust&rsquo;s only source of liquidity is its sales of silver.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Critical Accounting Policies</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The financial statements and accompanying notes are prepared in accordance with generally accepted accounting principles in the United States of America. The preparation of these financial statements relies on estimates and assumptions that impact the Trust&rsquo;s financial position and results of operations. These estimates and assumptions affect the Trust&rsquo;s application of accounting policies. A description of the valuation of silver bullion, a critical accounting policy that the Trust believes is important to understanding its results of operations and financial position, is provided in the section entitled &ldquo;Valuation of Silver Bullion&#894; Computation of Net Asset Value&rdquo;&nbsp;above. In addition, please refer to Note 2 to the financial statements included in this report for further discussion of the Trust&rsquo;s accounting policies.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">10</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
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</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Results of Operations</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>The Quarter Ended </i><i>September 30, 2018</i></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust&rsquo;s net asset value fell from $5,166,953,607 at June 30, 2018 to $4,762,274,699 at September 30, 2018, a 7.83% decrease. The decrease in the Trust&rsquo;s net asset value resulted primarily from a decrease in the LBMA Silver Price, which fell 10.73% from $16.03 at June 30, 2018 to $14.31 at September&nbsp;30,&nbsp;2018. The decrease in the Trust&rsquo;s net asset value was partially offset by an increase in the number of outstanding Shares, which rose from 342,550,000 Shares at June 30, 2018 to 354,250,000 Shares at September 30, 2018, a consequence of 20,700,000 Shares (414 Baskets) being created and 9,000,000 Shares (180 Baskets) being redeemed during the quarter.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The 10.88% decline in the Trust&rsquo;s NAV from $15.08 at June 30, 2018 to $13.44 at September 30, 2018 is directly related to the 10.73% decrease in the price of silver.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust&rsquo;s NAV decreased slightly more than the price of silver on a percentage basis due to the Sponsor&rsquo;s fees, which were $6,235,371 for the quarter, or 0.13% of the Trust&rsquo;s average weighted assets of $4,943,209,120 during the quarter. The NAV of $15.25 on July 9, 2018 was the highest during the quarter, compared with a low during the quarter of $13.28 on September 11, 2018.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net decrease in net assets resulting from operations for the quarter was $570,271,220, resulting from an unrealized loss on investment in silver bullion of $538,368,056, a net investment loss of $6,235,371, a net realized loss of $1,160,169 from silver bullion sold to pay expenses and a net realized loss of $24,507,624 on silver bullion distributed for the redemption of Shares. Other than the Sponsor&rsquo;s fees of $6,235,371, the Trust had no expenses during the quarter.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>The </i><i>Nine</i><i>-</i><i>Month Period Ended September 30, 2018</i></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust&rsquo;s net asset value fell from $5,405,193,851 at December 31, 2017 to $4,762,274,699 at September 30, 2018, an 11.89% decrease. The decrease in the Trust&rsquo;s net asset value resulted primarily from a decrease in the LBMA Silver Price, which fell 15.17% from $16.87 at December 31, 2017 to $14.31 at September 30, 2018. The decrease in the Trust&rsquo;s net asset value was partially offset by an increase in the number of outstanding Shares, which rose from 339,750,000 Shares at December 31, 2017 to 354,250,000 Shares at September 30, 2018, a consequence of 58,600,000 Shares (1,172 Baskets) being created and 44,100,000 Shares (882 Baskets) being redeemed during the period.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The 15.52% decline in the Trust&rsquo;s NAV from $15.91 at December 31, 2017 to $13.44 at September 30, 2018 is directly related to the 15.17% decrease in the price of silver.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust&rsquo;s NAV decreased slightly more than the price of silver on a percentage basis due to the Sponsor&rsquo;s fees, which were $19,371,652 for the period, or 0.37% of the Trust&rsquo;s average weighted assets of $5,177,571,334 during the period. The NAV of $16.52 on January 25, 2018 was the highest during the period, compared with a low during the period of $13.28 on September 11, 2018.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net decrease in net assets resulting from operations for the period was $838,453,972, resulting from an unrealized loss on investment in silver bullion of $750,921,945, a net investment loss of $19,371,652, a net realized loss of $2,354,874 from silver bullion sold to pay expenses and a net realized loss of $65,805,501 on silver bullion distributed for the redemption of Shares. Other than the Sponsor&rsquo;s fees of $19,371,652, the Trust had no expenses during the period.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="item3" name="item3"></a>Item 3. Quantitative and Qualitative Disclosures About Market Risk</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Not applicable.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="item4" name="item4"></a>Item 4. Controls and Procedures</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The duly authorized officers of the Sponsor performing functions equivalent to those a principal executive officer and principal financial officer of the Trust would perform if the Trust had any officers, with the participation of the Trustee, have evaluated the effectiveness of the Trust&rsquo;s disclosure controls and procedures, and have concluded that the disclosure controls and procedures of the Trust were effective as of the end of the period covered by this report to provide reasonable assurance that information required to be disclosed in the reports that the Trust files or submits under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported, within the time periods specified in the applicable rules and forms, and that it is accumulated and communicated to the duly authorized officers of the Sponsor performing functions equivalent to those a principal executive officer and principal financial officer of the Trust would perform if the Trust had any officers, as appropriate to allow timely decisions regarding required disclosure.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">There are inherent limitations to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of the controls and procedures.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">There were no changes in the Trust&rsquo;s internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Trust&rsquo;s internal control over financial reporting.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">11</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><a id="part2" name="part2"></a>PART II &ndash;</b><b> OTHER INFORMATION</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="legal" name="legal"></a>Item 1. Legal Proceedings</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">None.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="risk" name="risk"></a>Item 1A. Risk Factors</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">There have been no material changes to the Risk Factors last reported under Part I, Item 1A of the registrant&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on February 28, 2018<i>.</i></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="saleseq" name="saleseq"></a>Item 2. Unregistered Sales of Equity Securities and Use of Proceeds</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">a) None.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">b) Not applicable.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">c) 9,000,000 Shares (180 Baskets) were redeemed during the quarter ended September 30, 2018.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; width: 90%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td colspan="2" rowspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 45%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Period</b></p>
			</td>
			<td id=".lead.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Total Number of Shares<br>
			Redeemed</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Average Ounces of<br>
			Silver Paid Per Share</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="2" rowspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 45%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">07/01/18 to 07/31/18</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,850,000</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.9407</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="2" rowspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 45%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">08/01/18 to 08/31/18</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">3,300,000</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.9405</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="2" rowspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 45%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">09/01/18 to 09/30/18</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">3,850,000</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.9398</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="2" rowspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 45%;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">Total</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">9,000,000</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.9402</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="defaults" name="defaults"></a>Item 3. Defaults Upon Senior Securities</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">None.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="mine" name="mine"></a>Item 4. Mine Safety Disclosures</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Not applicable.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="other" name="other"></a>Item 5. Other Information</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">None.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">12</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="exhibits" name="exhibits"></a>Item 6. Exhibits</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Exhibit No.</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Description</b></p>
			</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">4.1</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="http://www.sec.gov/Archives/edgar/data/1330568/000143774916043693/ex4-1.htm" style="-sec-extract:exhibit;">Second Amended and Restated Depositary Trust Agreement is incorporated by reference to Exhibit 4.1 of the Current Report on Form 8-K filed by the Registrant on December 22, 2016</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">4.2</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="http://www.sec.gov/Archives/edgar/data/1330568/000143774916043693/ex4-2.htm" style="-sec-extract:exhibit;">Standard Terms for Authorized Participant Agreements is incorporated by reference to Exhibit 4.2 of the Current Report on Form 8-K filed by the Registrant on December 22, 2016</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">10.1</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="http://www.sec.gov/Archives/edgar/data/1330568/000143774916043693/ex10-1.htm" style="-sec-extract:exhibit;">First Amended and Restated Custodian Agreement between The Bank of New York Mellon and JPMorgan Chase Bank N.A., London branch is incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed by the Registrant on December 22, 2016</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">10.2</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="http://www.sec.gov/Archives/edgar/data/1330568/000119312508261923/dex102.htm" style="-sec-extract:exhibit;">Sub-license Agreement is incorporated by reference to Exhibit 10.2 of Registration Statement No. 333-156506 filed by the Registrant on December 30, 2008</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">31.1</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="ex_125174.htm" style="-sec-extract:exhibit;">Certification by Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">31.2</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="ex_125175.htm" style="-sec-extract:exhibit;">Certification by Principal Financial Officer Pursuant to Section 302 of the Sarbanes&#8209;Oxley Act of 2002</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">32.1</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="ex_125176.htm" style="-sec-extract:exhibit;">Certification by Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes&#8209;Oxley Act of 2002</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">32.2</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><a href="ex_125177.htm" style="-sec-extract:exhibit;">Certification by Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">101.INS</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">XBRL Instance Document</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">101.SCH</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">XBRL Taxonomy Extension Schema Document</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">101.CAL</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">XBRL Taxonomy Extension Calculation Linkbase Document</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">101.DEF</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">XBRL Taxonomy Extension Definition Linkbase Document</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">101.LAB</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">XBRL Taxonomy Extension Label Linkbase Document</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">101.PRE</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">XBRL Taxonomy Extension Presentation Linkbase Document</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">13</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%"><a href="#toc">Table of Contents</a></div>
</div>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><a id="sigs" name="sigs"></a>SIGNATURES</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned in the capacities* indicated thereunto duly authorized.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">iShares Delaware Trust Sponsor LLC,</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Sponsor of the iShares Silver Trust (registrant)</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 100%; border-bottom: thin solid rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">/s/ Paul Lohrey</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Paul Lohrey</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Director, President and Chief Executive Officer</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>(Principal executive officer)</b></td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Date:</td>
			<td style="width: 88%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">November 6, 2018</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 100%; border-bottom: thin solid rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">/s/ Jack Gee</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Jack Gee</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Director and Chief Financial Officer</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>(Principal financial and accounting officer)</b></p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Date:</td>
			<td style="width: 88%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">November 6, 2018</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">*</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">The registrant is a trust and the persons are signing in their respective capacities as officers of iShares Delaware Trust Sponsor LLC, the Sponsor of the registrant.</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">14</p>
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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>ex_125174.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<html>
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	<title>ex_125174.htm</title>

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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 31.1</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>&nbsp;</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>CERTIFICATION</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">I, Paul Lohrey, certify that:</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">1.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">I have reviewed this report on Form 10-Q of iShares Silver Trust;</p>
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</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">2.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">3.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</p>
			</td>
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</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">4.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">The registrant&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</p>
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</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">a)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</p>
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			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">b)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p>
			</td>
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		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">c)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</p>
			</td>
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			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">d)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</p>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">5.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">The registrant&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</p>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

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			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">a)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize, and report financial information; and</p>
			</td>
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</table>

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			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">b)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</p>
			</td>
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</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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			<td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Date:</td>
			<td style="width: 88%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">November 6, 2018</td>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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			<td style="width: 50%; border-bottom: thin solid rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">/s/ Paul Lohrey</td>
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		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Paul Lohrey</b></td>
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		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>President and Chief Executive Officer</b></td>
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			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>(Principal executive officer)</b></td>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>ex_125175.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 31.2</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>&nbsp;</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>CERTIFICATION</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">I, Jack Gee, certify that:</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">1.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">I have reviewed this report on Form 10-Q of iShares Silver Trust;</p>
			</td>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">2.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</p>
			</td>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">3.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</p>
			</td>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">4.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">The registrant&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</p>
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<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">a)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">b)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">c)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">d)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">5.</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">The registrant&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">a)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize, and report financial information; and</p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">b)</p>
			</td>
			<td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Date:</td>
			<td style="width: 88%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">November 6, 2018</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 100%; border-bottom: thin solid rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">/s/ Jack Gee</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Jack Gee</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Chief Financial Officer</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>(Principal financial officer)</b></td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>ex_125176.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<html>
<head>
	<title>ex_125176.htm</title>

	<!-- Created by RDG HTML Converter v1.1.0.0 10/8/2018 8:51:39 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10px; margin-right: 10px; cursor: auto;">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 32.1</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>&nbsp;</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>&nbsp;</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">In connection with the Quarterly Report of iShares Silver Trust (the &ldquo;Trust&rdquo;) on Form 10-Q for the period ended September 30, 2018 as filed with the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Paul Lohrey, Chief Executive Officer of iShares Delaware Trust Sponsor LLC, the Sponsor of the Trust, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">&nbsp;</td>
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">1.</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">&nbsp;</td>
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">2.</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust.</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">It is not intended that this statement be deemed to be filed for purposes of the Securities Exchange Act of 1934.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Date:</td>
			<td style="width: 88%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">November 6, 2018</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 100%; border-bottom: thin solid rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">/s/ Paul Lohrey</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Paul Lohrey*</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>President and Chief Executive Officer</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>(Principal executive officer)</b></td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">*</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">The registrant is a trust and Mr. Lohrey is signing in his capacity as an officer of iShares Delaware Trust Sponsor LLC, the Sponsor of the registrant.</p>
			</td>
		</tr>

</table>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>5
<FILENAME>ex_125177.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<html>
<head>
	<title>ex_125177.htm</title>

	<!-- Created by RDG HTML Converter v1.1.0.0 10/8/2018 8:51:21 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10px; margin-right: 10px; cursor: auto;">
<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 32.2</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>&nbsp;</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>&nbsp;</b></p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">In connection with the Quarterly Report of iShares<sup> </sup>Silver Trust (the &ldquo;Trust&rdquo;) on Form 10-Q for the period ended September 30, 2018 as filed with the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Jack Gee, Chief Financial Officer of iShares Delaware Trust Sponsor LLC, the Sponsor of the Trust, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">&nbsp;</td>
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">1.</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">&nbsp;</td>
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">2.</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust.</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">It is not intended that this statement be deemed to be filed for purposes of the Securities Exchange Act of 1934.</p>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Date:</td>
			<td style="width: 88%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">November 6, 2018</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 35%; margin-right: 65%;">

		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="width: 100%; border-bottom: thin solid rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">/s/ Jack Gee</td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Jack Gee*</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Chief Financial Officer</b></td>
		</tr>
		<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>(Principal financial officer)</b></td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">*</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">The registrant is a trust and Mr. Gee is signing in his capacity as an officer of iShares<sup> </sup>Delaware Trust Sponsor LLC, the Sponsor of the registrant.</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>6
<FILENAME>slv-20180930.xml
<DESCRIPTION>XBRL INSTANCE DOCUMENT
<TEXT>
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  <invest:InvestmentTableTextBlock contextRef="d_2018-01-01_2018-09-30" id="c-16">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Description&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;333,046,831&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,939,485,807&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total Investment &amp;#x2013; 100.04%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Less Liabilities &amp;#x2013;&amp;nbsp;(0.04)%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,960,217&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net Assets &amp;#x2013;&amp;nbsp;100.00%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,762,274,699&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Description&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;320,629,662&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,831,748,196&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,407,419,250&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total Investment &amp;#x2013;&amp;nbsp;100.04%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,407,419,250&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Less Liabilities &amp;#x2013;&amp;nbsp;(0.04)%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,225,399&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net Assets &amp;#x2013;&amp;nbsp;100.00%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,405,193,851&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</invest:InvestmentTableTextBlock>
  <slv:ActivityInSilverBullionTableTextBlock contextRef="d_2018-01-01_2018-09-30" id="c-17">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Three Months Ended September 30, 2018&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;322,465,714&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,806,008,238&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,169,125,403&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,467,176&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292,541,629&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292,541,629&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,462,245&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(151,456,941&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(126,949,317&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24,507,624&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(423,814&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,607,119&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,446,950&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,160,169&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25,667,793&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(538,368,056&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;333,046,831&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,939,485,807&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25,667,793&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Three Months Ended September 30, 2017&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;339,605,211&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,235,001,418&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,593,297,824&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,392,577&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;180,668,658&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;180,668,658&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23,817,516&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(435,509,224&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(403,286,795&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,222,429&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(422,857&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,742,714&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,146,128&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(596,586&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,819,015&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;178,415,473&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;326,757,415&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,972,418,138&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,509,130,017&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,819,015&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Nine Months Ended September 30, 2018 &lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;320,629,662&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,831,748,196&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,407,419,250&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;55,163,280&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;880,252,487&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;880,252,487&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41,529,029&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(750,523,168&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(684,717,667&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(65,805,501&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,217,082&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21,991,708&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,636,834&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,354,874&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(68,160,375&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(750,921,945&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;333,046,831&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,939,485,807&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(68,160,375&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Nine Months Ended September 30, 2017 &lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;341,348,242&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,305,715,839&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,543,495,441&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38,888,176&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;649,149,108&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;649,149,108&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(52,224,977&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(959,371,591&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(899,979,662&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(59,391,929&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,254,026&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23,075,218&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21,537,444&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,537,774&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(60,929,703&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;298,932,277&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;326,757,415&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,972,418,138&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,509,130,017&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(60,929,703&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</slv:ActivityInSilverBullionTableTextBlock>
  <slv:CalculationOfNetAssetValuePolicyTextBlock contextRef="d_2018-01-01_2018-09-30" id="c39272718">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;&lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;C.&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Calculation of Net Asset Value&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;On each business day, as soon as practicable after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4:00&lt;/div&gt; p.m. (New York time), the net asset value of the Trust is obtained by subtracting all accrued fees, expenses and other liabilities of the Trust from the fair value of the silver and other assets held by the Trust. The Trustee computes the net asset value per Share by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</slv:CalculationOfNetAssetValuePolicyTextBlock>
  <slv:ExpensesToAverageNetAssetsRatio contextRef="d_2018-07-01_2018-09-30" decimals="4" id="c39272636" unitRef="xbrli-pure">0.005</slv:ExpensesToAverageNetAssetsRatio>
  <slv:ExpensesToAverageNetAssetsRatio contextRef="d_2017-07-01_2017-09-30" decimals="4" id="c39272637" unitRef="xbrli-pure">0.005</slv:ExpensesToAverageNetAssetsRatio>
  <slv:ExpensesToAverageNetAssetsRatio contextRef="d_2018-01-01_2018-09-30" decimals="4" id="c39272638" unitRef="xbrli-pure">0.005</slv:ExpensesToAverageNetAssetsRatio>
  <slv:ExpensesToAverageNetAssetsRatio contextRef="d_2017-01-01_2017-09-30" decimals="4" id="c39272639" unitRef="xbrli-pure">0.005</slv:ExpensesToAverageNetAssetsRatio>
  <slv:FinancialHighlightsTableTextBlock contextRef="d_2018-01-01_2018-09-30" id="c-18">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Three Months Ended&lt;br /&gt; September 30,&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Nine Months Ended&lt;br /&gt; September 30,&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net asset value per Share, beginning of period&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.08&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.58&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.91&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.40&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net investment loss&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(a)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.02&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.02&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.06&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.06&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net realized and unrealized gain (loss)&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(b)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.62&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.36&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.41&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.58&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net increase (decrease) in net assets from operations&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.64&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.34&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.47&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.52&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net asset value per Share, end of period&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.44&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.92&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.44&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.92&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Total return, at net asset value&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(c)(d)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.88&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.18&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15.52&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.38&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt;Ratio to average net assets:&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net investment loss&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Expenses&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</slv:FinancialHighlightsTableTextBlock>
  <slv:FinancialHighlightsTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008911">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8&lt;/div&gt; &lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt;- Financial Highlights&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following financial highlights relate to investment performance and operations for a Share outstanding for the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;nine&lt;/div&gt; months ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,&lt;/div&gt;&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Three Months Ended&lt;br /&gt; September 30,&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Nine Months Ended&lt;br /&gt; September 30,&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net asset value per Share, beginning of period&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.08&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.58&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.91&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.40&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net investment loss&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(a)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.02&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.02&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.06&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.06&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net realized and unrealized gain (loss)&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(b)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.62&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.36&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.41&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.58&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net increase (decrease) in net assets from operations&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.64&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.34&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.47&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.52&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net asset value per Share, end of period&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.44&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.92&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.44&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.92&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Total return, at net asset value&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(c)(d)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.88&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.18&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15.52&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.38&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="width: 48%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt;Ratio to average net assets:&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net investment loss&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%)&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Expenses&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0" /&gt; &lt;table style="; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 8pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(a)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;"&gt;Based on average Shares outstanding during the period.&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(b)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;"&gt;The amounts reported for a Share outstanding &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; accord with the change in aggregate gains and losses on investment for the period due to the timing of Trust Share transactions in relation to the fluctuating fair values of the Trust&amp;#x2019;s underlying investment.&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(c)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;"&gt;Based on the change in net asset value of a Share during the period.&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(d)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;"&gt;Percentage is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; annualized.&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;"&gt;Percentage is annualized.&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt;&lt;/div&gt;</slv:FinancialHighlightsTextBlock>
  <slv:IncreaseDecreaseInNetAssets contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272426" unitRef="iso4217-usd">-642919152</slv:IncreaseDecreaseInNetAssets>
  <slv:IncreaseDecreaseInNetAssets contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c39272427" unitRef="iso4217-usd">-135936792</slv:IncreaseDecreaseInNetAssets>
  <slv:IndemnificationTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008908">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt; - Indemnification&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust Agreement provides that the Sponsor and its shareholders, directors, officers, employees, affiliates and subsidiaries shall be indemnified by the Trust for any loss, liability or expense incurred by any such person that arises out of or in connection with the performance of obligations under the Trust Agreement or any actions taken in accordance with the provisions of the Trust Agreement, absent such person&amp;#x2019;s negligence, bad faith, willful misconduct, willful malfeasance or reckless disregard of such person&amp;#x2019;s duties and obligations.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust has agreed that the Custodian will only be responsible for any loss or damage suffered by the Trust as a direct result of the Custodian&amp;#x2019;s negligence, fraud or willful default in the performance of its duties.&lt;/div&gt;&lt;/div&gt;</slv:IndemnificationTextBlock>
  <slv:LegalFeesPerYear contextRef="d_2018-01-01_2018-09-30_RangeAxis-MaximumMember" decimals="INF" id="c39272667" unitRef="iso4217-usd">100000</slv:LegalFeesPerYear>
  <slv:NetAssetsPercentageOfNetAssets contextRef="i_2018-09-30" decimals="4" id="c39272705" unitRef="xbrli-pure">1</slv:NetAssetsPercentageOfNetAssets>
  <slv:NetAssetsPercentageOfNetAssets contextRef="i_2017-12-31" decimals="4" id="c39272714" unitRef="xbrli-pure">1</slv:NetAssetsPercentageOfNetAssets>
  <slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272620" unitRef="iso4217-usd-per-xbrli-shares">-1.64</slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare>
  <slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272621" unitRef="iso4217-usd-per-xbrli-shares">0.34</slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare>
  <slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272622" unitRef="iso4217-usd-per-xbrli-shares">-2.47</slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare>
  <slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272623" unitRef="iso4217-usd-per-xbrli-shares">0.52</slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare>
  <slv:NetInvestmentGainLossToAverageNetAssetsRatio contextRef="d_2018-07-01_2018-09-30" decimals="4" id="c39272632" unitRef="xbrli-pure">-0.005</slv:NetInvestmentGainLossToAverageNetAssetsRatio>
  <slv:NetInvestmentGainLossToAverageNetAssetsRatio contextRef="d_2017-07-01_2017-09-30" decimals="4" id="c39272633" unitRef="xbrli-pure">-0.005</slv:NetInvestmentGainLossToAverageNetAssetsRatio>
  <slv:NetInvestmentGainLossToAverageNetAssetsRatio contextRef="d_2018-01-01_2018-09-30" decimals="4" id="c39272634" unitRef="xbrli-pure">-0.005</slv:NetInvestmentGainLossToAverageNetAssetsRatio>
  <slv:NetInvestmentGainLossToAverageNetAssetsRatio contextRef="d_2017-01-01_2017-09-30" decimals="4" id="c39272635" unitRef="xbrli-pure">-0.005</slv:NetInvestmentGainLossToAverageNetAssetsRatio>
  <slv:NetInvestmentIncomeLossPerShare contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272612" unitRef="iso4217-usd-per-xbrli-shares">-0.02</slv:NetInvestmentIncomeLossPerShare>
  <slv:NetInvestmentIncomeLossPerShare contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272613" unitRef="iso4217-usd-per-xbrli-shares">-0.02</slv:NetInvestmentIncomeLossPerShare>
  <slv:NetInvestmentIncomeLossPerShare contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272614" unitRef="iso4217-usd-per-xbrli-shares">-0.06</slv:NetInvestmentIncomeLossPerShare>
  <slv:NetInvestmentIncomeLossPerShare contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272615" unitRef="iso4217-usd-per-xbrli-shares">-0.06</slv:NetInvestmentIncomeLossPerShare>
  <slv:NetRealizedAndUnrealizedGainLossPerShare contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272616" unitRef="iso4217-usd-per-xbrli-shares">-1.62</slv:NetRealizedAndUnrealizedGainLossPerShare>
  <slv:NetRealizedAndUnrealizedGainLossPerShare contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272617" unitRef="iso4217-usd-per-xbrli-shares">0.36</slv:NetRealizedAndUnrealizedGainLossPerShare>
  <slv:NetRealizedAndUnrealizedGainLossPerShare contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272618" unitRef="iso4217-usd-per-xbrli-shares">-2.41</slv:NetRealizedAndUnrealizedGainLossPerShare>
  <slv:NetRealizedAndUnrealizedGainLossPerShare contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272619" unitRef="iso4217-usd-per-xbrli-shares">0.58</slv:NetRealizedAndUnrealizedGainLossPerShare>
  <slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272507" unitRef="iso4217-usd">-24507624</slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares>
  <slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272535" unitRef="iso4217-usd">-32222429</slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares>
  <slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272563" unitRef="iso4217-usd">-65805501</slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares>
  <slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272591" unitRef="iso4217-usd">-59391929</slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares>
  <slv:OfferingOfTheSharesPolicyTextBlock contextRef="d_2018-01-01_2018-09-30" id="c39272719">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;&lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;D. &lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Offering of the Shares&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Trust Shares are issued and redeemed continuously in aggregations of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50,000&lt;/div&gt; Shares in exchange for silver bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the &amp;#x201c;Authorized Participants&amp;#x201d;). Holders of Shares of the Trust &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50,000&lt;/div&gt; Shares&amp;#x37e; &lt;div style="display: inline; font-style: italic;"&gt;provided&lt;/div&gt;, that redemptions of Shares &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be suspended during any period while regular trading on NYSE Arca, Inc. (&amp;#x201c;NYSE Arca&amp;#x201d;) is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of silver is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reasonably practicable.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The per Share amount of silver exchanged for a purchase or redemption represents the per Share amount of silver held by the Trust, after giving effect to its liabilities.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;When silver bullion is exchanged in settlement of a redemption, it is considered a sale of silver bullion for accounting purposes.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</slv:OfferingOfTheSharesPolicyTextBlock>
  <slv:SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272432" unitRef="xbrli-shares">44100000</slv:SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod>
  <slv:SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c39272433" unitRef="xbrli-shares">75950000</slv:SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod>
  <slv:SharesPrescribedAggregation contextRef="i_2018-09-30" decimals="INF" id="c39272660" unitRef="xbrli-shares">50000</slv:SharesPrescribedAggregation>
  <slv:SilverBullionBalance contextRef="i_2018-09-30" decimals="INF" id="c39272472" unitRef="utr-oz">333046831</slv:SilverBullionBalance>
  <slv:SilverBullionBalance contextRef="i_2017-12-31" decimals="INF" id="c39272484" unitRef="utr-oz">320629662</slv:SilverBullionBalance>
  <slv:SilverBullionBalance contextRef="i_2018-06-30" decimals="INF" id="c39272496" unitRef="utr-oz">322465714</slv:SilverBullionBalance>
  <slv:SilverBullionBalance contextRef="i_2017-06-30" decimals="INF" id="c39272524" unitRef="utr-oz">339605211</slv:SilverBullionBalance>
  <slv:SilverBullionBalance contextRef="i_2017-09-30" decimals="INF" id="c39272548" unitRef="utr-oz">326757415</slv:SilverBullionBalance>
  <slv:SilverBullionBalance contextRef="i_2016-12-31" decimals="INF" id="c39272580" unitRef="utr-oz">341348242</slv:SilverBullionBalance>
  <slv:SilverContributed contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272500" unitRef="utr-oz">19467176</slv:SilverContributed>
  <slv:SilverContributed contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272528" unitRef="utr-oz">11392577</slv:SilverContributed>
  <slv:SilverContributed contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272556" unitRef="utr-oz">55163280</slv:SilverContributed>
  <slv:SilverContributed contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272584" unitRef="utr-oz">38888176</slv:SilverContributed>
  <slv:SilverContributedAverageCost contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272501" unitRef="iso4217-usd">292541629</slv:SilverContributedAverageCost>
  <slv:SilverContributedAverageCost contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272529" unitRef="iso4217-usd">180668658</slv:SilverContributedAverageCost>
  <slv:SilverContributedAverageCost contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272557" unitRef="iso4217-usd">880252487</slv:SilverContributedAverageCost>
  <slv:SilverContributedAverageCost contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272585" unitRef="iso4217-usd">649149108</slv:SilverContributedAverageCost>
  <slv:SilverContributedFairValue contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272502" unitRef="iso4217-usd">292541629</slv:SilverContributedFairValue>
  <slv:SilverContributedFairValue contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272530" unitRef="iso4217-usd">180668658</slv:SilverContributedFairValue>
  <slv:SilverContributedFairValue contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272558" unitRef="iso4217-usd">880252487</slv:SilverContributedFairValue>
  <slv:SilverContributedFairValue contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272586" unitRef="iso4217-usd">649149108</slv:SilverContributedFairValue>
  <slv:SilverDistributed contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272504" unitRef="utr-oz">8462245</slv:SilverDistributed>
  <slv:SilverDistributed contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272532" unitRef="utr-oz">23817516</slv:SilverDistributed>
  <slv:SilverDistributed contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272560" unitRef="utr-oz">41529029</slv:SilverDistributed>
  <slv:SilverDistributed contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272588" unitRef="utr-oz">52224977</slv:SilverDistributed>
  <slv:SilverDistributedAverageCost contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272505" unitRef="iso4217-usd">151456941</slv:SilverDistributedAverageCost>
  <slv:SilverDistributedAverageCost contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272533" unitRef="iso4217-usd">435509224</slv:SilverDistributedAverageCost>
  <slv:SilverDistributedAverageCost contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272561" unitRef="iso4217-usd">750523168</slv:SilverDistributedAverageCost>
  <slv:SilverDistributedAverageCost contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272589" unitRef="iso4217-usd">959371591</slv:SilverDistributedAverageCost>
  <slv:SilverDistributedFairValue contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272506" unitRef="iso4217-usd">126949317</slv:SilverDistributedFairValue>
  <slv:SilverDistributedFairValue contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272534" unitRef="iso4217-usd">403286795</slv:SilverDistributedFairValue>
  <slv:SilverDistributedFairValue contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272562" unitRef="iso4217-usd">684717667</slv:SilverDistributedFairValue>
  <slv:SilverDistributedFairValue contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272590" unitRef="iso4217-usd">899979662</slv:SilverDistributedFairValue>
  <slv:SilverSold contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272508" unitRef="utr-oz">423814</slv:SilverSold>
  <slv:SilverSold contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272536" unitRef="utr-oz">422857</slv:SilverSold>
  <slv:SilverSold contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272564" unitRef="utr-oz">1217082</slv:SilverSold>
  <slv:SilverSold contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272592" unitRef="utr-oz">1254026</slv:SilverSold>
  <slv:SilverSoldAverageCost contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272509" unitRef="iso4217-usd">7607119</slv:SilverSoldAverageCost>
  <slv:SilverSoldAverageCost contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272537" unitRef="iso4217-usd">7742714</slv:SilverSoldAverageCost>
  <slv:SilverSoldAverageCost contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272565" unitRef="iso4217-usd">21991708</slv:SilverSoldAverageCost>
  <slv:SilverSoldAverageCost contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272593" unitRef="iso4217-usd">23075218</slv:SilverSoldAverageCost>
  <slv:SilverSoldFairValue contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272510" unitRef="iso4217-usd">6446950</slv:SilverSoldFairValue>
  <slv:SilverSoldFairValue contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272538" unitRef="iso4217-usd">7146128</slv:SilverSoldFairValue>
  <slv:SilverSoldFairValue contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272566" unitRef="iso4217-usd">19636834</slv:SilverSoldFairValue>
  <slv:SilverSoldFairValue contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272594" unitRef="iso4217-usd">21537444</slv:SilverSoldFairValue>
  <slv:SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue contextRef="d_2018-01-01_2018-09-30" decimals="3" id="c39272666" unitRef="xbrli-pure">0.005</slv:SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue>
  <slv:SponsorsFees contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272367" unitRef="iso4217-usd">6235371</slv:SponsorsFees>
  <slv:SponsorsFees contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272368" unitRef="iso4217-usd">7129498</slv:SponsorsFees>
  <slv:SponsorsFees contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272369" unitRef="iso4217-usd">19371652</slv:SponsorsFees>
  <slv:SponsorsFees contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272370" unitRef="iso4217-usd">21523569</slv:SponsorsFees>
  <slv:TotalReturn contextRef="d_2018-07-01_2018-09-30" decimals="4" id="c39272628" unitRef="xbrli-pure">-0.1088</slv:TotalReturn>
  <slv:TotalReturn contextRef="d_2017-07-01_2017-09-30" decimals="4" id="c39272629" unitRef="xbrli-pure">0.0218</slv:TotalReturn>
  <slv:TotalReturn contextRef="d_2018-01-01_2018-09-30" decimals="4" id="c39272630" unitRef="xbrli-pure">-0.1552</slv:TotalReturn>
  <slv:TotalReturn contextRef="d_2017-01-01_2017-09-30" decimals="4" id="c39272631" unitRef="xbrli-pure">0.0338</slv:TotalReturn>
  <slv:TrustExpensesTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008906">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; &lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt;- Trust Expenses&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust pays to the Sponsor a Sponsor&amp;#x2019;s fee that accrues daily at an annualized rate equal to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.50%&lt;/div&gt; of the net asset value of the Trust, paid monthly in arrears. The Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust: the Trustee&amp;#x2019;s fee, the Custodian&amp;#x2019;s fee, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$100,000&lt;/div&gt; per annum in legal fees and expenses.&lt;/div&gt;&lt;/div&gt;</slv:TrustExpensesTextBlock>
  <slv:ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272422" unitRef="iso4217-usd">684717667</slv:ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod>
  <slv:ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c39272423" unitRef="iso4217-usd">1226578286</slv:ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod>
  <us-gaap:AccountsPayableFairValueDisclosure contextRef="i_2018-09-30" decimals="INF" id="c39272353" unitRef="iso4217-usd">1960217</us-gaap:AccountsPayableFairValueDisclosure>
  <us-gaap:AccountsPayableFairValueDisclosure contextRef="i_2017-12-31" decimals="INF" id="c39272354" unitRef="iso4217-usd">2225399</us-gaap:AccountsPayableFairValueDisclosure>
  <us-gaap:AssetsFairValueDisclosure contextRef="i_2018-09-30" decimals="INF" id="c39272351" unitRef="iso4217-usd">4764234916</us-gaap:AssetsFairValueDisclosure>
  <us-gaap:AssetsFairValueDisclosure contextRef="i_2017-12-31" decimals="INF" id="c39272352" unitRef="iso4217-usd">5407419250</us-gaap:AssetsFairValueDisclosure>
  <us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="d_2018-01-01_2018-09-30" id="c39272716">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;&lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;A.&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Basis of Accounting&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
  <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008900">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt;- Organization&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The iShares Silver Trust (the &amp;#x201c;Trust&amp;#x201d;) was organized on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; April 21, 2006 &lt;/div&gt;as a New York trust. The trustee is The Bank of New York Mellon (the &amp;#x201c;Trustee&amp;#x201d;), which is responsible for the day-to-day administration of the Trust. The Trust&amp;#x2019;s sponsor is iShares Delaware Trust Sponsor LLC, a Delaware limited liability company (the &amp;#x201c;Sponsor&amp;#x201d;). The Trust is governed by the provisions of the Second Amended and Restated Depositary Trust Agreement (the &amp;#x201c;Trust Agreement&amp;#x201d;) executed by the Trustee and the Sponsor as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 22, 2016. &lt;/div&gt;The Trust issues units of beneficial interest (&amp;#x201c;Shares&amp;#x201d;) representing fractional undivided beneficial interests in its net assets.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust seeks to reflect generally the performance of the price of silver. The Trust seeks to reflect such performance before payment of the Trust&amp;#x2019;s expenses and liabilities. The Trust is designed to provide a vehicle for investors to make an investment similar to an investment in silver.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The accompanying unaudited financial statements were prepared in accordance with generally accepted accounting principles in the United States of America (&amp;#x201c;U.S. GAAP&amp;#x201d;) for interim financial information and with the instructions for Form &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10&lt;/div&gt;-Q and the rules and regulations of the U.S. Securities and Exchange Commission (the &amp;#x201c;SEC&amp;#x201d;). In the opinion of management, all material adjustments, consisting only of normal recurring adjustments considered necessary for a fair statement of the interim period financial statements, have been made. Interim period results are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; necessarily indicative of results for a full-year period. These financial statements and the notes thereto should be read in conjunction with the Trust&amp;#x2019;s financial statements included in its Annual Report on Form&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10&amp;#x2011;K&lt;/div&gt; for the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;as filed with the SEC on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 28, 2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust qualifies as an investment company solely for accounting purposes and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; for any other purpose and follows the accounting and reporting guidance under the Financial Accounting Standards Board Accounting Standards Codification Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;946,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Financial Services - Investment Companies&lt;/div&gt;, but is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; registered, and is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; required to be registered, as an investment company under the Investment Company Act of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1940,&lt;/div&gt; as amended.&lt;/div&gt;&lt;/div&gt;</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2017-12-31" decimals="INF" id="c39272447" unitRef="iso4217-usd">0</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2016-12-31" decimals="INF" id="c39272448" unitRef="iso4217-usd">0</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2018-09-30" decimals="INF" id="c39272449" unitRef="iso4217-usd">0</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2017-09-30" decimals="INF" id="c39272450" unitRef="iso4217-usd">0</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272445" unitRef="iso4217-usd">0</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272446" unitRef="iso4217-usd">0</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:CommitmentsAndContingencies contextRef="i_2018-09-30" decimals="INF" id="c39272357" unitRef="iso4217-usd">0</us-gaap:CommitmentsAndContingencies>
  <us-gaap:CommitmentsAndContingencies contextRef="i_2017-12-31" decimals="INF" id="c39272358" unitRef="iso4217-usd">0</us-gaap:CommitmentsAndContingencies>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008909">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6&lt;/div&gt; - Commitments and Contingent Liabilities&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;In the normal course of business, the Trust &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;enter into contracts with service providers that contain general indemnification clauses. The Trust&amp;#x2019;s maximum exposure under these arrangements is unknown as this would involve future claims that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be made against the Trust that have &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet occurred.&lt;/div&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008910">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt; - Concentration Risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Substantially all of the Trust&amp;#x2019;s assets are holdings of silver bullion, which creates a concentration risk associated with fluctuations in the price of silver. Accordingly, a decline in the price of silver will have an adverse effect on the value of the Shares of the Trust. Factors that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;have the effect of causing a decline in the price of silver include a change in economic conditions (such as a recession), an increase in the hedging activities of silver producers, and changes in the attitude of speculators, investors and other market participants towards silver.&lt;/div&gt;&lt;/div&gt;</us-gaap:ConcentrationRiskDisclosureTextBlock>
  <us-gaap:EarningsPerShareBasic contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272403" unitRef="iso4217-usd-per-xbrli-shares">-1.63</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272404" unitRef="iso4217-usd-per-xbrli-shares">0.39</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272405" unitRef="iso4217-usd-per-xbrli-shares">-2.45</us-gaap:EarningsPerShareBasic>
  <us-gaap:EarningsPerShareBasic contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272406" unitRef="iso4217-usd-per-xbrli-shares">0.61</us-gaap:EarningsPerShareBasic>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008913">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; - Investment Valuation&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;U.S. GAAP defines fair value as the price the Trust would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Trust&amp;#x2019;s policy is to value its investment at fair value.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Various inputs are used in determining the fair value of assets and liabilities. Inputs &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be based on independent market data (&amp;#x201c;observable inputs&amp;#x201d;) or they &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be internally developed (&amp;#x201c;unobservable inputs&amp;#x201d;). These inputs are categorized into a disclosure hierarchy consisting of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; levels of the fair value hierarchy are as follows:&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 27pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 45pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &amp;#x2013;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;Unadjusted quoted prices in active markets for identical assets or liabilities;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 27pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 45pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; &amp;#x2013;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;Inputs other than quoted prices included within Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; considered to be active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 27pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 45pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; &amp;#x2013;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;Unobservable inputs that are unobservable for the asset or liability, including the Trust&amp;#x2019;s assumptions used in determining the fair value of investments.&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 30, 2018 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the value of the silver bullion held by the Trust is categorized as Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:FairValueNetAssetLiability contextRef="i_2018-09-30" decimals="INF" id="c39272483" unitRef="iso4217-usd">4762274699</us-gaap:FairValueNetAssetLiability>
  <us-gaap:FairValueNetAssetLiability contextRef="i_2017-12-31" decimals="INF" id="c39272495" unitRef="iso4217-usd">5405193851</us-gaap:FairValueNetAssetLiability>
  <us-gaap:FairValueNetAssetLiability contextRef="i_2016-12-31" decimals="INF" id="c39272411" unitRef="iso4217-usd">5541130643</us-gaap:FairValueNetAssetLiability>
  <us-gaap:FairValueOfAssetsAcquired contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272463" unitRef="iso4217-usd">880252487</us-gaap:FairValueOfAssetsAcquired>
  <us-gaap:FairValueOfAssetsAcquired contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272464" unitRef="iso4217-usd">649149108</us-gaap:FairValueOfAssetsAcquired>
  <us-gaap:GainLossOnInvestments contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272395" unitRef="iso4217-usd">-564035849</us-gaap:GainLossOnInvestments>
  <us-gaap:GainLossOnInvestments contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272396" unitRef="iso4217-usd">145596458</us-gaap:GainLossOnInvestments>
  <us-gaap:GainLossOnInvestments contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272397" unitRef="iso4217-usd">-819082320</us-gaap:GainLossOnInvestments>
  <us-gaap:GainLossOnInvestments contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272398" unitRef="iso4217-usd">238002574</us-gaap:GainLossOnInvestments>
  <us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272511" unitRef="iso4217-usd">-1160169</us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses>
  <us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272539" unitRef="iso4217-usd">-596586</us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses>
  <us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272567" unitRef="iso4217-usd">-2354874</us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses>
  <us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272595" unitRef="iso4217-usd">-1537774</us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses>
  <us-gaap:IncomeTaxPolicyTextBlock contextRef="d_2018-01-01_2018-09-30" id="c39272720">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;&lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;E.&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Federal Income Taxes&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust is treated as a grantor trust for federal income tax purposes and, therefore, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; provision for federal income taxes is required. Any interest, expenses, gains and losses are passed through to the holders of Shares of the Trust.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 30, 2018 &lt;/div&gt;and does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; believe that there are any uncertain tax positions that require recognition of a tax liability.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxPolicyTextBlock>
  <us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272459" unitRef="iso4217-usd">-265182</us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties>
  <us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272460" unitRef="iso4217-usd">-13875</us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties>
  <us-gaap:InvestmentHoldingsScheduleOfInvestmentsTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008897">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline;"&gt;&lt;/div&gt;iShares Silver Trust&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Schedules of Investments (Unaudited)&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 30, 2018 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td colspan="10" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; text-decoration: underline;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Description&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;333,046,831&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,939,485,807&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total Investment &amp;#x2013; 100.04%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Less Liabilities &amp;#x2013;&amp;nbsp;(0.04)%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,960,217&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net Assets &amp;#x2013;&amp;nbsp;100.00%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,762,274,699&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td colspan="10" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; text-decoration: underline;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Description&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;320,629,662&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,831,748,196&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,407,419,250&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total Investment &amp;#x2013;&amp;nbsp;100.04%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,407,419,250&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Less Liabilities &amp;#x2013;&amp;nbsp;(0.04)%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,225,399&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net Assets &amp;#x2013;&amp;nbsp;100.00%&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,405,193,851&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</us-gaap:InvestmentHoldingsScheduleOfInvestmentsTextBlock>
  <us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure contextRef="i_2018-06-30" decimals="INF" id="c39272498" unitRef="iso4217-usd">5169125403</us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure>
  <us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure contextRef="i_2018-09-30" decimals="INF" id="c39272522" unitRef="iso4217-usd">4764234916</us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure>
  <us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure contextRef="i_2017-06-30" decimals="INF" id="c39272526" unitRef="iso4217-usd">5593297824</us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure>
  <us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure contextRef="i_2017-09-30" decimals="INF" id="c39272550" unitRef="iso4217-usd">5509130017</us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure>
  <us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure contextRef="i_2017-12-31" decimals="INF" id="c39272554" unitRef="iso4217-usd">5407419250</us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure>
  <us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure contextRef="i_2016-12-31" decimals="INF" id="c39272582" unitRef="iso4217-usd">5543495441</us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure>
  <us-gaap:InvestmentOwnedAtCost contextRef="i_2018-09-30" decimals="INF" id="c39272691" unitRef="iso4217-usd">5939485807</us-gaap:InvestmentOwnedAtCost>
  <us-gaap:InvestmentOwnedAtCost contextRef="i_2017-12-31" decimals="INF" id="c39272692" unitRef="iso4217-usd">5831748196</us-gaap:InvestmentOwnedAtCost>
  <us-gaap:InvestmentOwnedAtCost contextRef="i_2018-06-30" decimals="INF" id="c39272497" unitRef="iso4217-usd">5806008238</us-gaap:InvestmentOwnedAtCost>
  <us-gaap:InvestmentOwnedAtCost contextRef="i_2017-06-30" decimals="INF" id="c39272525" unitRef="iso4217-usd">6235001418</us-gaap:InvestmentOwnedAtCost>
  <us-gaap:InvestmentOwnedAtCost contextRef="i_2017-09-30" decimals="INF" id="c39272549" unitRef="iso4217-usd">5972418138</us-gaap:InvestmentOwnedAtCost>
  <us-gaap:InvestmentOwnedAtCost contextRef="i_2016-12-31" decimals="INF" id="c39272581" unitRef="iso4217-usd">6305715839</us-gaap:InvestmentOwnedAtCost>
  <us-gaap:InvestmentOwnedAtFairValue contextRef="i_2018-09-30" decimals="INF" id="c39272474" unitRef="iso4217-usd">4764234916</us-gaap:InvestmentOwnedAtFairValue>
  <us-gaap:InvestmentOwnedAtFairValue contextRef="i_2017-12-31" decimals="INF" id="c39272486" unitRef="iso4217-usd">5407419250</us-gaap:InvestmentOwnedAtFairValue>
  <us-gaap:InvestmentOwnedPercentOfNetAssets contextRef="i_2018-09-30" decimals="4" id="c39272699" unitRef="xbrli-pure">1.0004</us-gaap:InvestmentOwnedPercentOfNetAssets>
  <us-gaap:InvestmentOwnedPercentOfNetAssets contextRef="i_2017-12-31" decimals="4" id="c39272708" unitRef="xbrli-pure">1.0004</us-gaap:InvestmentOwnedPercentOfNetAssets>
  <us-gaap:InvestmentPolicyTextBlock contextRef="d_2018-01-01_2018-09-30" id="c39272717">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;&lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;B.&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Silver Bullion&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;JPMorgan Chase Bank N.A., London branch (the &amp;#x201c;Custodian&amp;#x201d;), is responsible for the safekeeping of silver bullion owned by the Trust.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Fair value of the silver bullion held by the Trust is based on the price per ounce of silver determined in an electronic auction hosted&amp;nbsp;by&amp;nbsp;ICE&amp;nbsp;Benchmark Administration&amp;nbsp;(&amp;#x201c;IBA&amp;#x201d;)&amp;nbsp;that&amp;nbsp;begins at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12:00&lt;/div&gt; p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such&amp;nbsp;price,&amp;nbsp;the &amp;#x201c;LBMA Silver Price&amp;#x201d;). If there is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; announced LBMA Silver Price on any day, the Trustee is authorized to use the most recently announced LBMA Silver Price unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate as a basis for evaluation. Prior to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,&lt;/div&gt;&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the LBMA Silver Price was determined using an electronic auction administered by CME Group Inc. (&amp;#x201c;CME&amp;nbsp;Group&amp;#x201d;) and published by Thomson Reuters. Effective as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2, 2017, &lt;/div&gt;IBA replaced CME Group and Thomson Reuters as the administrator for the LBMA Silver Price and began administering the electronic auction for the LBMA Silver Price.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Gain or loss on sales of silver bullion is calculated on a trade date basis using the average cost method.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following tables summarize activity in silver bullion for the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 30, 2018 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Three Months Ended September 30, 2018&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;322,465,714&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,806,008,238&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,169,125,403&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,467,176&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292,541,629&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292,541,629&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,462,245&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(151,456,941&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(126,949,317&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24,507,624&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(423,814&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,607,119&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,446,950&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,160,169&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25,667,793&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(538,368,056&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;333,046,831&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,939,485,807&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25,667,793&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Three Months Ended September 30, 2017&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;339,605,211&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,235,001,418&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,593,297,824&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,392,577&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;180,668,658&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;180,668,658&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23,817,516&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(435,509,224&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(403,286,795&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,222,429&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(422,857&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,742,714&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,146,128&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(596,586&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,819,015&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;178,415,473&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;326,757,415&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,972,418,138&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,509,130,017&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,819,015&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following tables summarize activity in silver bullion for the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;nine&lt;/div&gt; months ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 30, 2018 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Nine Months Ended September 30, 2018 &lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;320,629,662&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,831,748,196&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,407,419,250&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;55,163,280&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;880,252,487&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;880,252,487&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41,529,029&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(750,523,168&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(684,717,667&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(65,805,501&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,217,082&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21,991,708&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,636,834&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,354,874&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(68,160,375&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(750,921,945&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;333,046,831&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,939,485,807&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(68,160,375&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Nine Months Ended September 30, 2017 &lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;341,348,242&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,305,715,839&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,543,495,441&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38,888,176&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;649,149,108&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;649,149,108&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(52,224,977&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(959,371,591&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(899,979,662&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(59,391,929&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,254,026&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23,075,218&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21,537,444&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,537,774&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(60,929,703&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;298,932,277&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;326,757,415&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,972,418,138&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,509,130,017&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(60,929,703&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:InvestmentPolicyTextBlock>
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  <us-gaap:LiabilitiesFairValueDisclosure contextRef="i_2017-12-31" decimals="INF" id="c39272492" unitRef="iso4217-usd">2225399</us-gaap:LiabilitiesFairValueDisclosure>
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  <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272444" unitRef="iso4217-usd">0</us-gaap:NetCashProvidedByUsedInOperatingActivities>
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  <us-gaap:NetIncomeLoss contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c39272419" unitRef="iso4217-usd">217471048</us-gaap:NetIncomeLoss>
  <us-gaap:NetIncomeLoss contextRef="d_2018-07-01_2018-09-30" decimals="INF" id="c39272399" unitRef="iso4217-usd">-570271220</us-gaap:NetIncomeLoss>
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  <us-gaap:OperatingExpenses contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c39272372" unitRef="iso4217-usd">7129498</us-gaap:OperatingExpenses>
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  <us-gaap:PaymentsForFees contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272441" unitRef="iso4217-usd">19636834</us-gaap:PaymentsForFees>
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  <us-gaap:ProceedsFromSaleOfTrustAssetsToPayExpenses contextRef="d_2018-01-01_2018-09-30" decimals="INF" id="c39272439" unitRef="iso4217-usd">19636834</us-gaap:ProceedsFromSaleOfTrustAssetsToPayExpenses>
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  <us-gaap:RealizedInvestmentGainsLosses contextRef="d_2017-01-01_2017-09-30" decimals="INF" id="c39272598" unitRef="iso4217-usd">-60929703</us-gaap:RealizedInvestmentGainsLosses>
  <us-gaap:RealizedInvestmentGainsLosses contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c39272415" unitRef="iso4217-usd">-92120817</us-gaap:RealizedInvestmentGainsLosses>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008907">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt; - Related Parties&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee&amp;#x2019;s fee is paid by the Sponsor and is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; a separate expense of the Trust.&lt;/div&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="d_2018-01-01_2018-09-30" id="s1008901">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; - Significant Accounting Policies&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;A.&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Basis of Accounting&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;B.&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Silver Bullion&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;JPMorgan Chase Bank N.A., London branch (the &amp;#x201c;Custodian&amp;#x201d;), is responsible for the safekeeping of silver bullion owned by the Trust.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Fair value of the silver bullion held by the Trust is based on the price per ounce of silver determined in an electronic auction hosted&amp;nbsp;by&amp;nbsp;ICE&amp;nbsp;Benchmark Administration&amp;nbsp;(&amp;#x201c;IBA&amp;#x201d;)&amp;nbsp;that&amp;nbsp;begins at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12:00&lt;/div&gt; p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such&amp;nbsp;price,&amp;nbsp;the &amp;#x201c;LBMA Silver Price&amp;#x201d;). If there is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; announced LBMA Silver Price on any day, the Trustee is authorized to use the most recently announced LBMA Silver Price unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate as a basis for evaluation. Prior to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,&lt;/div&gt;&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the LBMA Silver Price was determined using an electronic auction administered by CME Group Inc. (&amp;#x201c;CME&amp;nbsp;Group&amp;#x201d;) and published by Thomson Reuters. Effective as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2, 2017, &lt;/div&gt;IBA replaced CME Group and Thomson Reuters as the administrator for the LBMA Silver Price and began administering the electronic auction for the LBMA Silver Price.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Gain or loss on sales of silver bullion is calculated on a trade date basis using the average cost method.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following tables summarize activity in silver bullion for the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 30, 2018 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Three Months Ended September 30, 2018&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;322,465,714&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,806,008,238&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,169,125,403&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,467,176&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292,541,629&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292,541,629&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,462,245&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(151,456,941&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(126,949,317&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24,507,624&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(423,814&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,607,119&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,446,950&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,160,169&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25,667,793&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(538,368,056&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;333,046,831&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,939,485,807&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25,667,793&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Three Months Ended September 30, 2017&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;339,605,211&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,235,001,418&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,593,297,824&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,392,577&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;180,668,658&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;180,668,658&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23,817,516&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(435,509,224&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(403,286,795&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,222,429&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(422,857&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,742,714&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,146,128&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(596,586&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,819,015&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;178,415,473&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;326,757,415&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,972,418,138&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,509,130,017&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32,819,015&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following tables summarize activity in silver bullion for the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;nine&lt;/div&gt; months ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 30, 2018 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Nine Months Ended September 30, 2018 &lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;320,629,662&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,831,748,196&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,407,419,250&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;55,163,280&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;880,252,487&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;880,252,487&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41,529,029&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(750,523,168&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(684,717,667&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(65,805,501&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,217,082&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21,991,708&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,636,834&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,354,874&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(68,160,375&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(750,921,945&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;333,046,831&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,939,485,807&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,764,234,916&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(68,160,375&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Nine Months Ended September 30, 2017 &lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Ounces&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br /&gt; &lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair&lt;br /&gt; Value&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Realized&lt;br /&gt; Gain (Loss)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;341,348,242&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,305,715,839&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,543,495,441&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38,888,176&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;649,149,108&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;649,149,108&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(52,224,977&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(959,371,591&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(899,979,662&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(59,391,929&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,254,026&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23,075,218&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21,537,444&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,537,774&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(60,929,703&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;298,932,277&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;326,757,415&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,972,418,138&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,509,130,017&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(60,929,703&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;C.&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Calculation of Net Asset Value&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;On each business day, as soon as practicable after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4:00&lt;/div&gt; p.m. (New York time), the net asset value of the Trust is obtained by subtracting all accrued fees, expenses and other liabilities of the Trust from the fair value of the silver and other assets held by the Trust. The Trustee computes the net asset value per Share by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&lt;/div&gt; &lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;D. &lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Offering of the Shares&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Trust Shares are issued and redeemed continuously in aggregations of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50,000&lt;/div&gt; Shares in exchange for silver bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the &amp;#x201c;Authorized Participants&amp;#x201d;). Holders of Shares of the Trust &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50,000&lt;/div&gt; Shares&amp;#x37e; &lt;div style="display: inline; font-style: italic;"&gt;provided&lt;/div&gt;, that redemptions of Shares &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be suspended during any period while regular trading on NYSE Arca, Inc. (&amp;#x201c;NYSE Arca&amp;#x201d;) is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of silver is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reasonably practicable.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The per Share amount of silver exchanged for a purchase or redemption represents the per Share amount of silver held by the Trust, after giving effect to its liabilities.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;When silver bullion is exchanged in settlement of a redemption, it is considered a sale of silver bullion for accounting purposes.&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"&gt;  &lt;tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;E.&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Federal Income Taxes&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust is treated as a grantor trust for federal income tax purposes and, therefore, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; provision for federal income taxes is required. 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    <link:footnote xlink:label="f1008893-a" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Cost of investment in silver bullion: $5,939,485,807 and $5,831,748,196, respectively.</link:footnote>
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<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>8
<FILENAME>slv-20180930_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
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<TYPE>EX-101.LAB
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    <link:label xlink:label="slv_statement-statement-schedules-of-investments-unaudited-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedules of Investments (Unaudited)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_statement-statement-schedules-of-investments-unaudited-tables" xlink:to="slv_statement-statement-schedules-of-investments-unaudited-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_statement-statement-note-2-significant-accounting-policies-tables" xlink:label="slv_statement-statement-note-2-significant-accounting-policies-tables" xlink:type="locator"/>
    <link:label xlink:label="slv_statement-statement-note-2-significant-accounting-policies-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 2 - Significant Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_statement-statement-note-2-significant-accounting-policies-tables" xlink:to="slv_statement-statement-note-2-significant-accounting-policies-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_statement-statement-note-8-financial-highlights-tables" xlink:label="slv_statement-statement-note-8-financial-highlights-tables" xlink:type="locator"/>
    <link:label xlink:label="slv_statement-statement-note-8-financial-highlights-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 8 - Financial Highlights</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_statement-statement-note-8-financial-highlights-tables" xlink:to="slv_statement-statement-note-8-financial-highlights-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_statement-statement-schedules-of-investments-unaudited-investments-details" xlink:label="slv_statement-statement-schedules-of-investments-unaudited-investments-details" xlink:type="locator"/>
    <link:label xlink:label="slv_statement-statement-schedules-of-investments-unaudited-investments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedules of Investments (Unaudited) - Investments (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_statement-statement-schedules-of-investments-unaudited-investments-details" xlink:to="slv_statement-statement-schedules-of-investments-unaudited-investments-details-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_statement-statement-schedules-of-investments-unaudited-investments-details-parentheticals" xlink:label="slv_statement-statement-schedules-of-investments-unaudited-investments-details-parentheticals" xlink:type="locator"/>
    <link:label xlink:label="slv_statement-statement-schedules-of-investments-unaudited-investments-details-parentheticals-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedules of Investments (Unaudited) - Investments (Details) (Parentheticals)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_statement-statement-schedules-of-investments-unaudited-investments-details-parentheticals" xlink:to="slv_statement-statement-schedules-of-investments-unaudited-investments-details-parentheticals-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_statement-statement-note-2-significant-accounting-policies-activity-in-silver-bullion-details" xlink:label="slv_statement-statement-note-2-significant-accounting-policies-activity-in-silver-bullion-details" xlink:type="locator"/>
    <link:label xlink:label="slv_statement-statement-note-2-significant-accounting-policies-activity-in-silver-bullion-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 2 - Significant Accounting Policies - Activity in Silver Bullion (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_statement-statement-note-2-significant-accounting-policies-activity-in-silver-bullion-details" xlink:to="slv_statement-statement-note-2-significant-accounting-policies-activity-in-silver-bullion-details-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_statement-statement-note-8-financial-highlights-financial-highlights-details" xlink:label="slv_statement-statement-note-8-financial-highlights-financial-highlights-details" xlink:type="locator"/>
    <link:label xlink:label="slv_statement-statement-note-8-financial-highlights-financial-highlights-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 8 - Financial Highlights - Financial Highlights (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_statement-statement-note-8-financial-highlights-financial-highlights-details" xlink:to="slv_statement-statement-note-8-financial-highlights-financial-highlights-details-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:label="slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:type="locator"/>
    <link:label xlink:label="slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod</link:label>
    <link:label xlink:label="slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions for Shares redeemed</link:label>
    <link:label xlink:label="slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Value of stock classified as temporary equity surrendered during the reporting period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:to="slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementEquityComponentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_NotesToFinancialStatements" xlink:label="slv_NotesToFinancialStatements" xlink:type="locator"/>
    <link:label xlink:label="slv_NotesToFinancialStatements-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes To Financial Statements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NotesToFinancialStatements" xlink:to="slv_NotesToFinancialStatements-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EquityComponentDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_NotesToFinancialStatementsAbstract" xlink:label="slv_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:label xlink:label="slv_NotesToFinancialStatementsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes To Financial Statements [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NotesToFinancialStatementsAbstract" xlink:to="slv_NotesToFinancialStatementsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentTableTextBlock" xlink:label="invest_InvestmentTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="invest_InvestmentTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentTableTextBlock" xlink:to="invest_InvestmentTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverBullionBalance" xlink:label="slv_SilverBullionBalance" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverBullionBalance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Silver bullion (Ounce)</link:label>
    <link:label xlink:label="slv_SilverBullionBalance-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (Ounce)</link:label>
    <link:label xlink:label="slv_SilverBullionBalance-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (Ounce)</link:label>
    <link:label xlink:label="slv_SilverBullionBalance-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ounces of silver bullion held by the trust.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverBullionBalance" xlink:to="slv_SilverBullionBalance-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SharesPrescribedAggregation" xlink:label="slv_SharesPrescribedAggregation" xlink:type="locator"/>
    <link:label xlink:label="slv_SharesPrescribedAggregation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SharesPrescribedAggregation</link:label>
    <link:label xlink:label="slv_SharesPrescribedAggregation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares Prescribed Aggregation</link:label>
    <link:label xlink:label="slv_SharesPrescribedAggregation-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prescribed aggregation at which shares are issued and redeemed.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SharesPrescribedAggregation" xlink:to="slv_SharesPrescribedAggregation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="us-gaap_GainLossOnInvestments" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GainLossOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_GainLossOnInvestments</link:label>
    <link:label xlink:label="us-gaap_GainLossOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net realized and unrealized gain (loss)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestments" xlink:to="us-gaap_GainLossOnInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sponsor&#8217;s fees payable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_CalculationOfNetAssetValuePolicyTextBlock" xlink:label="slv_CalculationOfNetAssetValuePolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="slv_CalculationOfNetAssetValuePolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Calculation of Net Asset Value [Policy Text Block]</link:label>
    <link:label xlink:label="slv_CalculationOfNetAssetValuePolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The method used by the entity to calculate the net asset value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_CalculationOfNetAssetValuePolicyTextBlock" xlink:to="slv_CalculationOfNetAssetValuePolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="us-gaap_AssetsFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AssetsFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AssetsFairValueDisclosure</link:label>
    <link:label xlink:label="us-gaap_AssetsFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1" xlink:label="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1</link:label>
    <link:label xlink:label="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Silver bullion distributed for Shares redeemed</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1" xlink:to="us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingExpenses</link:label>
    <link:label xlink:label="us-gaap_OperatingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_TrustExpensesTextBlock" xlink:label="slv_TrustExpensesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="slv_TrustExpensesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trust Expenses [Text Block]</link:label>
    <link:label xlink:label="slv_TrustExpensesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entire disclosure for expenses incurred by the trust.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_TrustExpensesTextBlock" xlink:to="slv_TrustExpensesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xlink:label="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Silver bullion sold to pay expenses</link:label>
    <link:label xlink:label="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Silver bullion sold to pay expenses, realized gain (loss)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xlink:to="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue" xlink:label="slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue" xlink:type="locator"/>
    <link:label xlink:label="slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue</link:label>
    <link:label xlink:label="slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sponsor's Fee Annualized Accrual Rate Based on Daily Net Asset Value</link:label>
    <link:label xlink:label="slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sponsor's fee annualized accrual rate based on daily net asset value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue" xlink:to="slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_LegalFeesPerYear" xlink:label="slv_LegalFeesPerYear" xlink:type="locator"/>
    <link:label xlink:label="slv_LegalFeesPerYear-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_LegalFeesPerYear</link:label>
    <link:label xlink:label="slv_LegalFeesPerYear-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Fees Per Year</link:label>
    <link:label xlink:label="slv_LegalFeesPerYear-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum per annum in legal fees and expenses the sponsor has agreed to assume.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_LegalFeesPerYear" xlink:to="slv_LegalFeesPerYear-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_FinancialHighlightsTextBlock" xlink:label="slv_FinancialHighlightsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="slv_FinancialHighlightsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Highlights [Text Block]</link:label>
    <link:label xlink:label="slv_FinancialHighlightsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Presentation of financial highlights related to investment performance and operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_FinancialHighlightsTextBlock" xlink:to="slv_FinancialHighlightsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueNetAssetLiability" xlink:label="us-gaap_FairValueNetAssetLiability" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueNetAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Assets</link:label>
    <link:label xlink:label="us-gaap_FairValueNetAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Assets</link:label>
    <link:label xlink:label="us-gaap_FairValueNetAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Net Assets, Beginning of Period</link:label>
    <link:label xlink:label="us-gaap_FairValueNetAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Net Assets, End of Period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueNetAssetLiability" xlink:to="us-gaap_FairValueNetAssetLiability-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_IndemnificationTextBlock" xlink:label="slv_IndemnificationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="slv_IndemnificationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indemnification [Text Block]</link:label>
    <link:label xlink:label="slv_IndemnificationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Includes disclosure of indemnification.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_IndemnificationTextBlock" xlink:to="slv_IndemnificationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure" xlink:label="us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment in silver bullion, at fair value(a)</link:label>
    <link:label xlink:label="us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance, fair value</link:label>
    <link:label xlink:label="us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance, fair value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure" xlink:to="us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="us-gaap_LiabilitiesFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LiabilitiesFairValueDisclosure</link:label>
    <link:label xlink:label="us-gaap_LiabilitiesFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less Liabilities</link:label>
    <link:label xlink:label="us-gaap_LiabilitiesFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="us-gaap_LiabilitiesFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_CashAndCashEquivalentsAtCarryingValue</link:label>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash, beginning of period</link:label>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash, end of period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RealizedInvestmentGainsLosses" xlink:label="us-gaap_RealizedInvestmentGainsLosses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ending balance, realized gain (loss)</link:label>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net realized loss</link:label>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net realized gain (loss), fair value</link:label>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net realized (gain) loss</link:label>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net realized loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealizedInvestmentGainsLosses" xlink:to="us-gaap_RealizedInvestmentGainsLosses-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <link:label xlink:label="dei_AmendmentFlag-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountingPoliciesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets" xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets</link:label>
    <link:label xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less liabilities, percentage of net asset value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets" xlink:to="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GainLossOnInvestmentsAbstract" xlink:label="us-gaap_GainLossOnInvestmentsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GainLossOnInvestmentsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Realized and Unrealized Gain (Loss)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestmentsAbstract" xlink:to="us-gaap_GainLossOnInvestmentsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentOwnedAtFairValue" xlink:label="us-gaap_InvestmentOwnedAtFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentOwnedAtFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Silver bullion fair value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedAtFairValue" xlink:to="us-gaap_InvestmentOwnedAtFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_ActivityInSilverBullionTableTextBlock" xlink:label="slv_ActivityInSilverBullionTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="slv_ActivityInSilverBullionTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Activity in Silver Bullion [Table Text Block]</link:label>
    <link:label xlink:label="slv_ActivityInSilverBullionTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of the ounces, average cost, fair value and realized gain (loss) related to activity in silver bullion.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_ActivityInSilverBullionTableTextBlock" xlink:to="slv_ActivityInSilverBullionTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverContributed" xlink:label="slv_SilverContributed" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverContributed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Silver bullion contributed (Ounce)</link:label>
    <link:label xlink:label="slv_SilverContributed-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ounces of silver bullion contributed for the creation of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverContributed" xlink:to="slv_SilverContributed-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverContributedAverageCost" xlink:label="slv_SilverContributedAverageCost" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverContributedAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Silver bullion contributed, average cost</link:label>
    <link:label xlink:label="slv_SilverContributedAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Average cost of silver bullion contributed for the creation of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverContributedAverageCost" xlink:to="slv_SilverContributedAverageCost-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_CurrentFiscalYearEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:label="us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in Shares issued and outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:to="us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_RangeMember" xlink:label="srt_RangeMember" xlink:type="locator"/>
    <link:label xlink:label="srt_RangeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeMember" xlink:to="srt_RangeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_MaximumMember" xlink:label="srt_MaximumMember" xlink:type="locator"/>
    <link:label xlink:label="srt_MaximumMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalPeriodFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverContributedFairValue" xlink:label="slv_SilverContributedFairValue" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverContributedFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Silver bullion contributed, fair value</link:label>
    <link:label xlink:label="slv_SilverContributedFairValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of silver bullion contributed for the creation of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverContributedFairValue" xlink:to="slv_SilverContributedFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalYearFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentPeriodEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverDistributed" xlink:label="slv_SilverDistributed" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverDistributed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SilverDistributed</link:label>
    <link:label xlink:label="slv_SilverDistributed-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Silver bullion distributed (Ounce)</link:label>
    <link:label xlink:label="slv_SilverDistributed-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ounces of silver bullion distributed for the redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverDistributed" xlink:to="slv_SilverDistributed-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_RangeAxis" xlink:label="srt_RangeAxis" xlink:type="locator"/>
    <link:label xlink:label="srt_RangeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverDistributedAverageCost" xlink:label="slv_SilverDistributedAverageCost" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverDistributedAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SilverDistributedAverageCost</link:label>
    <link:label xlink:label="slv_SilverDistributedAverageCost-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Silver bullion distributed, average cost</link:label>
    <link:label xlink:label="slv_SilverDistributedAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Average cost of silver bullion distributed for the redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverDistributedAverageCost" xlink:to="slv_SilverDistributedAverageCost-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverDistributedFairValue" xlink:label="slv_SilverDistributedFairValue" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverDistributedFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SilverDistributedFairValue</link:label>
    <link:label xlink:label="slv_SilverDistributedFairValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Silver bullion distributed, fair value</link:label>
    <link:label xlink:label="slv_SilverDistributedFairValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of silver bullion distributed for the redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverDistributedFairValue" xlink:to="slv_SilverDistributedFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverSold" xlink:label="slv_SilverSold" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverSold-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SilverSold</link:label>
    <link:label xlink:label="slv_SilverSold-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Silver bullion sold to pay expenses (Ounce)</link:label>
    <link:label xlink:label="slv_SilverSold-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ounces of silver bullion sold to pay the trust's expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverSold" xlink:to="slv_SilverSold-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsForFees" xlink:label="us-gaap_PaymentsForFees" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PaymentsForFees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PaymentsForFees</link:label>
    <link:label xlink:label="us-gaap_PaymentsForFees-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Expenses &#8211; Sponsor&#8217;s fees paid</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForFees" xlink:to="us-gaap_PaymentsForFees-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityEmergingGrowthCompany-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverSoldAverageCost" xlink:label="slv_SilverSoldAverageCost" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverSoldAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SilverSoldAverageCost</link:label>
    <link:label xlink:label="slv_SilverSoldAverageCost-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Silver bullion sold to pay expenses, average cost</link:label>
    <link:label xlink:label="slv_SilverSoldAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Average cost of silver bullion sold to pay the trust's expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverSoldAverageCost" xlink:to="slv_SilverSoldAverageCost-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentType-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SilverSoldFairValue" xlink:label="slv_SilverSoldFairValue" xlink:type="locator"/>
    <link:label xlink:label="slv_SilverSoldFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SilverSoldFairValue</link:label>
    <link:label xlink:label="slv_SilverSoldFairValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Silver bullion sold to pay expenses, fair value</link:label>
    <link:label xlink:label="slv_SilverSoldFairValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of silver bullion sold to pay the trust's expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SilverSoldFairValue" xlink:to="slv_SilverSoldFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentOwnedAtCost" xlink:label="us-gaap_InvestmentOwnedAtCost" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentOwnedAtCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment in silver bullion, cost</link:label>
    <link:label xlink:label="us-gaap_InvestmentOwnedAtCost-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance, average cost</link:label>
    <link:label xlink:label="us-gaap_InvestmentOwnedAtCost-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance, average cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedAtCost" xlink:to="us-gaap_InvestmentOwnedAtCost-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" xlink:type="locator"/>
    <link:label xlink:label="dei_EntitySmallBusiness-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PolicyTextBlockAbstract" xlink:label="us-gaap_PolicyTextBlockAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PolicyTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PolicyTextBlockAbstract</link:label>
    <link:label xlink:label="us-gaap_PolicyTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PolicyTextBlockAbstract" xlink:to="us-gaap_PolicyTextBlockAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationTable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:label="us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentOwnedPercentOfNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total investment, percentage of net asset value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:to="us-gaap_InvestmentOwnedPercentOfNetAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses" xlink:label="us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from silver bullion sold to pay expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses" xlink:to="us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityFilerCategory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCurrentReportingStatus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueOfAssetsAcquired" xlink:label="us-gaap_FairValueOfAssetsAcquired" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueOfAssetsAcquired-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Silver bullion contributed for Shares issued</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOfAssetsAcquired" xlink:to="us-gaap_FairValueOfAssetsAcquired-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCentralIndexKey-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_FinancialHighlightsTableTextBlock" xlink:label="slv_FinancialHighlightsTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="slv_FinancialHighlightsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Highlights [Table Text Block]</link:label>
    <link:label xlink:label="slv_FinancialHighlightsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial highlights table.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_FinancialHighlightsTableTextBlock" xlink:to="slv_FinancialHighlightsTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityRegistrantName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:label xlink:label="dei_LegalEntityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementScenarioAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfFinancialPositionAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SupplementalCashFlowInformationAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of non-cash information:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScenarioUnspecifiedDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Unspecified [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_NetInvestmentIncomeLossPerShare" xlink:label="slv_NetInvestmentIncomeLossPerShare" xlink:type="locator"/>
    <link:label xlink:label="slv_NetInvestmentIncomeLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net investment loss(a) (in dollars per share)</link:label>
    <link:label xlink:label="slv_NetInvestmentIncomeLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net investment income (loss) per share during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NetInvestmentIncomeLossPerShare" xlink:to="slv_NetInvestmentIncomeLossPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EarningsPerShareBasic-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in net assets per Share(a) (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountsPayableFairValueDisclosure" xlink:label="us-gaap_AccountsPayableFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountsPayableFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sponsor&#8217;s fees payable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableFairValueDisclosure" xlink:to="us-gaap_AccountsPayableFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Flows from Operating Activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_NetRealizedAndUnrealizedGainLossPerShare" xlink:label="slv_NetRealizedAndUnrealizedGainLossPerShare" xlink:type="locator"/>
    <link:label xlink:label="slv_NetRealizedAndUnrealizedGainLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net realized and unrealized gain (loss)(b) (in dollars per share)</link:label>
    <link:label xlink:label="slv_NetRealizedAndUnrealizedGainLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net realized and unrealized gain (loss) per share during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NetRealizedAndUnrealizedGainLossPerShare" xlink:to="slv_NetRealizedAndUnrealizedGainLossPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare" xlink:label="slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare" xlink:type="locator"/>
    <link:label xlink:label="slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare</link:label>
    <link:label xlink:label="slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in net assets from operations (in dollars per share)</link:label>
    <link:label xlink:label="slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in net assets from operations per Share during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare" xlink:to="slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfCashFlowsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xlink:label="us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Holdings, Schedule of Investments [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xlink:to="us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCommonStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfStockholdersEquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_RatioToAverageNetAssetsAbstract" xlink:label="slv_RatioToAverageNetAssetsAbstract" xlink:type="locator"/>
    <link:label xlink:label="slv_RatioToAverageNetAssetsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ratio to average net assets:</link:label>
    <link:label xlink:label="slv_RatioToAverageNetAssetsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ratio to average net assets [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_RatioToAverageNetAssetsAbstract" xlink:to="slv_RatioToAverageNetAssetsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeStatementAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_NetInvestmentGainLossToAverageNetAssetsRatio" xlink:label="slv_NetInvestmentGainLossToAverageNetAssetsRatio" xlink:type="locator"/>
    <link:label xlink:label="slv_NetInvestmentGainLossToAverageNetAssetsRatio-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_NetInvestmentGainLossToAverageNetAssetsRatio</link:label>
    <link:label xlink:label="slv_NetInvestmentGainLossToAverageNetAssetsRatio-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net investment loss(e)</link:label>
    <link:label xlink:label="slv_NetInvestmentGainLossToAverageNetAssetsRatio-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ratio of net investment gain (loss) to average net assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NetInvestmentGainLossToAverageNetAssetsRatio" xlink:to="slv_NetInvestmentGainLossToAverageNetAssetsRatio-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_ExpensesToAverageNetAssetsRatio" xlink:label="slv_ExpensesToAverageNetAssetsRatio" xlink:type="locator"/>
    <link:label xlink:label="slv_ExpensesToAverageNetAssetsRatio-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_ExpensesToAverageNetAssetsRatio</link:label>
    <link:label xlink:label="slv_ExpensesToAverageNetAssetsRatio-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses(e)</link:label>
    <link:label xlink:label="slv_ExpensesToAverageNetAssetsRatio-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ratio of expenses to average net assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_ExpensesToAverageNetAssetsRatio" xlink:to="slv_ExpensesToAverageNetAssetsRatio-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_TotalReturn" xlink:label="slv_TotalReturn" xlink:type="locator"/>
    <link:label xlink:label="slv_TotalReturn-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total return, at net asset value(c)(d)</link:label>
    <link:label xlink:label="slv_TotalReturn-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total return at net asset value for the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_TotalReturn" xlink:to="slv_TotalReturn-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares" xlink:label="slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares" xlink:type="locator"/>
    <link:label xlink:label="slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Silver bullion distributed for the redemption of Shares</link:label>
    <link:label xlink:label="slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Silver bullion distributed, realized gain (loss)</link:label>
    <link:label xlink:label="slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net realized gain (loss) from silver distributed for the redemption of shares during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares" xlink:to="slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <link:label xlink:label="dei_TradingSymbol-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_OperationsAbstract" xlink:label="slv_OperationsAbstract" xlink:type="locator"/>
    <link:label xlink:label="slv_OperationsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operations:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_OperationsAbstract" xlink:to="slv_OperationsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:label="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Description and Basis of Presentation [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:to="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TemporaryEquityRedemptionPricePerShare" xlink:label="us-gaap_TemporaryEquityRedemptionPricePerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TemporaryEquityRedemptionPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net asset value per Share (Note 2C) (in dollars per share)</link:label>
    <link:label xlink:label="us-gaap_TemporaryEquityRedemptionPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Net asset value per Share, beginning of period (in dollars per share)</link:label>
    <link:label xlink:label="us-gaap_TemporaryEquityRedemptionPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Net asset value per Share, end of period (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquityRedemptionPricePerShare" xlink:to="us-gaap_TemporaryEquityRedemptionPricePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_CapitalShareTransactionsAbstract" xlink:label="slv_CapitalShareTransactionsAbstract" xlink:type="locator"/>
    <link:label xlink:label="slv_CapitalShareTransactionsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Share Transactions:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_CapitalShareTransactionsAbstract" xlink:to="slv_CapitalShareTransactionsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_SharesIssuedAndRedeemedAbstract" xlink:label="slv_SharesIssuedAndRedeemedAbstract" xlink:type="locator"/>
    <link:label xlink:label="slv_SharesIssuedAndRedeemedAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares issued and redeemed</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SharesIssuedAndRedeemedAbstract" xlink:to="slv_SharesIssuedAndRedeemedAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_IncreaseDecreaseInNetAssets" xlink:label="slv_IncreaseDecreaseInNetAssets" xlink:type="locator"/>
    <link:label xlink:label="slv_IncreaseDecreaseInNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_IncreaseDecreaseInNetAssets</link:label>
    <link:label xlink:label="slv_IncreaseDecreaseInNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Decrease in net assets</link:label>
    <link:label xlink:label="slv_IncreaseDecreaseInNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in net assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_IncreaseDecreaseInNetAssets" xlink:to="slv_IncreaseDecreaseInNetAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueDisclosuresTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TemporaryEquitySharesIssued" xlink:label="us-gaap_TemporaryEquitySharesIssued" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TemporaryEquitySharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares issued (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquitySharesIssued" xlink:to="us-gaap_TemporaryEquitySharesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TemporaryEquitySharesOutstanding" xlink:label="us-gaap_TemporaryEquitySharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TemporaryEquitySharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares issued and outstanding(b) (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquitySharesOutstanding" xlink:to="us-gaap_TemporaryEquitySharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in net assets resulting from operations</link:label>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in net assets resulting from operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TableTextBlock" xlink:label="us-gaap_TableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_TableTextBlock</link:label>
    <link:label xlink:label="us-gaap_TableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Tables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TableTextBlock" xlink:to="us-gaap_TableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20180930.xsd#slv_ReconciliationOfNetDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByOperatingActivitiesAbstract" xlink:label="slv_ReconciliationOfNetDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="slv_ReconciliationOfNetDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations to Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_ReconciliationOfNetDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByOperatingActivitiesAbstract" xlink:to="slv_ReconciliationOfNetDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TemporaryEquityParOrStatedValuePerShare" xlink:label="us-gaap_TemporaryEquityParOrStatedValuePerShare" xlink:type="locator"/>
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    <link:label xlink:label="us-gaap_AssetsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
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    <link:label xlink:label="us-gaap_OperatingIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net investment loss</link:label>
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    <link:label xlink:label="us-gaap_UnrealizedGainLossOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net change in unrealized appreciation/depreciation</link:label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
<FILENAME>slv-20180930_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806631632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Sep. 30, 2018 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">iShares Silver Trust<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001330568<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">slv<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">false<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding (in shares)</a></td>
<td class="nump">354,250,000<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-Q<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Sep. 30,  2018<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2018<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">Q3<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated), (5) Smaller Reporting Accelerated Filer or (6) Smaller Reporting Company and Large Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>dei:filerCategoryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:normalizedStringItemType</td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a smaller reporting company with both a public float and revenues of less than $75 million.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806616336">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Statements of Assets and Liabilities (Unaudited) - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure', window );">Investment in silver bullion, at fair value(a)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 4,764,234,916<span></span>
</td>
<td class="nump">$ 5,407,419,250<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total Assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,764,234,916<span></span>
</td>
<td class="nump">5,407,419,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableFairValueDisclosure', window );">Sponsor&#8217;s fees payable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,960,217<span></span>
</td>
<td class="nump">2,225,399<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Total Liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,960,217<span></span>
</td>
<td class="nump">2,225,399<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingent liabilities (Note 6)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiability', window );">Net Assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 4,762,274,699<span></span>
</td>
<td class="nump">$ 5,405,193,851<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TemporaryEquitySharesOutstanding', window );">Shares issued and outstanding(b) (in shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">354,250,000<span></span>
</td>
<td class="nump">339,750,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TemporaryEquityRedemptionPricePerShare', window );">Net asset value per Share (Note 2C) (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 13.44<span></span>
</td>
<td class="nump">$ 15.91<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Cost of investment in silver bullion: $5,939,485,807 and $5,831,748,196, respectively.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">No par value, unlimited amount authorized.</td>
</tr>
</table></td></tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of liabilities incurred for goods and services received that are used in an entity's business and related party payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=109250915&amp;loc=d3e13433-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableFairValueDisclosure</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
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<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=99377789&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82911808&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of asset after deduction of liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueNetAssetLiability</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of investment held in physical commodities, for example, but not limited to, gold, silver, platinum, crude oil, coal, sugar, rice, wheat.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=99377789&amp;loc=d3e19190-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial and nonfinancial obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=99377789&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesFairValueDisclosure</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount to be paid per share that is classified as temporary equity by entity upon redemption. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 480<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65877616&amp;loc=d3e177068-122764<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (27)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TemporaryEquityRedemptionPricePerShare</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of securities classified as temporary equity that have been issued and are held by the entity's shareholders. Securities outstanding equals securities issued minus securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(27)(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6800649856">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Statements of Assets and Liabilities (Unaudited) (Parentheticals) - USD ($)<br> $ / shares in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtCost', window );">Investment in silver bullion, cost</a></td>
<td class="nump">$ 5,939,485,807<span></span>
</td>
<td class="nump">$ 5,831,748,196<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TemporaryEquityParOrStatedValuePerShare', window );">Shares, par value (in dollars per share)</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TemporaryEquitySharesIssued', window );">Shares issued (in shares)</a></td>
<td class="nump">354,250,000<span></span>
</td>
<td class="nump">339,750,000<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost of the investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99383244&amp;loc=d3e12121-115841<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Per share amount of par value or stated value of stock classified as temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 480<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65877616&amp;loc=d3e177068-122764<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (27)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of securities classified as temporary equity that have been sold (or granted) to the entity's shareholders. Securities issued include securities outstanding and securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(27)(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<td style="white-space:nowrap;">us-gaap_TemporaryEquitySharesIssued</td>
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<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806940352">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Statements of Operations (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SponsorsFees', window );">Sponsor&#8217;s fees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 6,235,371<span></span>
</td>
<td class="nump">$ 7,129,498<span></span>
</td>
<td class="nump">$ 19,371,652<span></span>
</td>
<td class="nump">$ 21,523,569<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,235,371<span></span>
</td>
<td class="nump">7,129,498<span></span>
</td>
<td class="nump">19,371,652<span></span>
</td>
<td class="nump">21,523,569<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Net investment loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(6,235,371)<span></span>
</td>
<td class="num">(7,129,498)<span></span>
</td>
<td class="num">(19,371,652)<span></span>
</td>
<td class="num">(21,523,569)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInvestmentsAbstract', window );"><strong>Net Realized and Unrealized Gain (Loss)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses', window );">Silver bullion sold to pay expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,160,169)<span></span>
</td>
<td class="num">(596,586)<span></span>
</td>
<td class="num">(2,354,874)<span></span>
</td>
<td class="num">(1,537,774)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares', window );">Silver bullion distributed for the redemption of Shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(24,507,624)<span></span>
</td>
<td class="num">(32,222,429)<span></span>
</td>
<td class="num">(65,805,501)<span></span>
</td>
<td class="num">(59,391,929)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealizedInvestmentGainsLosses', window );">Net realized loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(25,667,793)<span></span>
</td>
<td class="num">(32,819,015)<span></span>
</td>
<td class="num">(68,160,375)<span></span>
</td>
<td class="num">(60,929,703)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnInvestments', window );">Net change in unrealized appreciation/depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(538,368,056)<span></span>
</td>
<td class="nump">178,415,473<span></span>
</td>
<td class="num">(750,921,945)<span></span>
</td>
<td class="nump">298,932,277<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInvestments', window );">Net realized and unrealized gain (loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(564,035,849)<span></span>
</td>
<td class="nump">145,596,458<span></span>
</td>
<td class="num">(819,082,320)<span></span>
</td>
<td class="nump">238,002,574<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net increase (decrease) in net assets resulting from operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">$ (570,271,220)<span></span>
</td>
<td class="nump">$ 138,466,960<span></span>
</td>
<td class="num">$ (838,453,972)<span></span>
</td>
<td class="nump">$ 216,479,005<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Net increase (decrease) in net assets per Share(a) (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">$ (1.63)<span></span>
</td>
<td class="nump">$ 0.39<span></span>
</td>
<td class="num">$ (2.45)<span></span>
</td>
<td class="nump">$ 0.61<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Net increase (decrease) in net assets per Share based on average shares outstanding during the period.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net realized gain (loss) from silver distributed for the redemption of shares during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SponsorsFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fees paid to the sponsor of the trust.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SponsorsFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1337-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=109256448&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1252-109256<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=SL5780133-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized gain (loss) on investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=82897076&amp;loc=d3e27405-111563<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(c),9(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnInvestmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnInvestmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) related to the sale of trust assets (includes, but is not limited to, gold and silver) to pay trust expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net realized gains or losses on investments during the period, not including gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.3(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealizedInvestmentGainsLosses</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrealizedGainLossOnInvestments</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6800706256">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Statements of Changes in Net Assets (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiability', window );">Net Assets, Beginning of Period</a></td>
<td class="nump">$ 5,405,193,851<span></span>
</td>
<td class="nump">$ 5,541,130,643<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_OperationsAbstract', window );"><strong>Operations:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Net investment loss</a></td>
<td class="num">(19,371,652)<span></span>
</td>
<td class="num">(28,299,587)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealizedInvestmentGainsLosses', window );">Net realized loss</a></td>
<td class="num">(68,160,375)<span></span>
</td>
<td class="num">(92,120,817)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnInvestments', window );">Net change in unrealized appreciation/depreciation</a></td>
<td class="num">(750,921,945)<span></span>
</td>
<td class="nump">337,891,452<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net increase (decrease) in net assets resulting from operations</a></td>
<td class="num">(838,453,972)<span></span>
</td>
<td class="nump">217,471,048<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_CapitalShareTransactionsAbstract', window );"><strong>Capital Share Transactions:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues', window );">Contributions for Shares issued</a></td>
<td class="nump">880,252,487<span></span>
</td>
<td class="nump">873,170,446<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod', window );">Distributions for Shares redeemed</a></td>
<td class="num">(684,717,667)<span></span>
</td>
<td class="num">(1,226,578,286)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TemporaryEquityIssuePeriodIncreaseOrDecrease', window );">Net increase (decrease) in net assets from capital share transactions</a></td>
<td class="nump">195,534,820<span></span>
</td>
<td class="num">(353,407,840)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_IncreaseDecreaseInNetAssets', window );">Decrease in net assets</a></td>
<td class="num">(642,919,152)<span></span>
</td>
<td class="num">(135,936,792)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiability', window );">Net Assets, End of Period</a></td>
<td class="nump">$ 4,762,274,699<span></span>
</td>
<td class="nump">$ 5,405,193,851<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SharesIssuedAndRedeemedAbstract', window );"><strong>Shares issued and redeemed</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Shares issued (in shares)</a></td>
<td class="nump">58,600,000<span></span>
</td>
<td class="nump">55,800,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod', window );">Shares redeemed (in shares)</a></td>
<td class="num">(44,100,000)<span></span>
</td>
<td class="num">(75,950,000)<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease', window );">Net increase (decrease) in Shares issued and outstanding (in shares)</a></td>
<td class="nump">14,500,000<span></span>
</td>
<td class="num">(20,150,000)<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) in net assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_IncreaseDecreaseInNetAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of stock classified as temporary equity surrendered during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod</td>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock classified as temporary equity surrendered during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of asset after deduction of liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueNetAssetLiability</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealizedInvestmentGainsLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net realized gains or losses on investments during the period, not including gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.3(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealizedInvestmentGainsLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the number of shares issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TemporaryEquityIssuePeriodIncreaseOrDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Change in the value of each type or class of stock classified as temporary equity during the period. The redemption requirement does not constitute an unconditional obligation that will be settled in a variable number of shares constituting a monetary value predominantly indexed to (a) a fixed monetary amount known at inception, (b) an amount inversely correlated with the residual value of the entity, or (c) an amount determined by reference to something other than the fair value of issuer's stock. Does not include mandatorily redeemable stock. The exception is if redemption is required upon liquidation or termination of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (27)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 480<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65877616&amp;loc=d3e177068-122764<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TemporaryEquityIssuePeriodIncreaseOrDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of new stock classified as temporary equity issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrealizedGainLossOnInvestments</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses', window );">Proceeds from silver bullion sold to pay expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,636,834<span></span>
</td>
<td class="nump">$ 21,537,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForFees', window );">Expenses &#8211; Sponsor&#8217;s fees paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(19,636,834)<span></span>
</td>
<td class="num">(21,537,444)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Increase (decrease) in cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, end of period</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_ReconciliationOfNetDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByOperatingActivitiesAbstract', window );"><strong>Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations to Net Cash Provided by (Used in) Operating Activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net increase (decrease) in net assets resulting from operations</a></td>
<td class="num">(570,271,220)<span></span>
</td>
<td class="nump">138,466,960<span></span>
</td>
<td class="num">(838,453,972)<span></span>
</td>
<td class="nump">216,479,005<span></span>
</td>
<td class="nump">217,471,048<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses', window );">Proceeds from silver bullion sold to pay expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,636,834<span></span>
</td>
<td class="nump">21,537,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealizedInvestmentGainsLosses', window );">Net realized (gain) loss</a></td>
<td class="nump">25,667,793<span></span>
</td>
<td class="nump">32,819,015<span></span>
</td>
<td class="nump">68,160,375<span></span>
</td>
<td class="nump">60,929,703<span></span>
</td>
<td class="nump">92,120,817<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnInvestments', window );">Net change in unrealized appreciation/depreciation</a></td>
<td class="nump">$ 538,368,056<span></span>
</td>
<td class="num">$ (178,415,473)<span></span>
</td>
<td class="nump">750,921,945<span></span>
</td>
<td class="num">(298,932,277)<span></span>
</td>
<td class="num">$ (337,891,452)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Change in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties', window );">Sponsor&#8217;s fees payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(265,182)<span></span>
</td>
<td class="num">(13,875)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental disclosure of non-cash information:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfAssetsAcquired', window );">Silver bullion contributed for Shares issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">880,252,487<span></span>
</td>
<td class="nump">649,149,108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1', window );">Silver bullion distributed for Shares redeemed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (684,717,667)<span></span>
</td>
<td class="num">$ (899,979,662)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_ReconciliationOfNetDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_ReconciliationOfNetDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByOperatingActivitiesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueOfAssetsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of assets acquired in noncash investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueOfAssetsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the obligations due for goods and services provided by the following types of related parties: a parent company and its subsidiaries, subsidiaries of a common parent, an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of the noncash (or part noncash) consideration given (for example, liability, equity) in a transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow for fees classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflows from the sale of trust assets to pay trust expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3337-108585<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net realized gains or losses on investments during the period, not including gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.3(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803381456">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Schedules of Investments (Unaudited)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline;"></div>iShares Silver Trust</div></div> </td> </tr> <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;">Schedules of Investments (Unaudited)</div></div> </td> </tr> <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017</div></div> </td> </tr>  </table> <div style=" margin: 0pt;">&nbsp;</div> <table style="; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td colspan="10" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018</div></div></div></div> </td> </tr>  </table> <div style=" margin: 0pt;">&nbsp;</div> <div> <table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Description</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,046,831</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,939,485,807</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total Investment &#x2013; 100.04%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less Liabilities &#x2013;&nbsp;(0.04)%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,960,217</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net Assets &#x2013;&nbsp;100.00%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,762,274,699</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt;">&nbsp;</div> <table style="; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td colspan="10" style="vertical-align: bottom; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017</div></div></div></div> </td> </tr>  </table> <div style=" margin: 0pt;">&nbsp;</div> <div> <table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Description</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320,629,662</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,831,748,196</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,407,419,250</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total Investment &#x2013;&nbsp;100.04%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,407,419,250</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less Liabilities &#x2013;&nbsp;(0.04)%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,225,399</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net Assets &#x2013;&nbsp;100.00%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,405,193,851</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">&nbsp;</td> </tr>  </table> </div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for investment holdings.  This includes the information required in the supplementary schedule applicable to management investment companies listing holdings of unaffiliated investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -URI http://asc.fasb.org/subtopic&amp;trid=2324412<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6633792880">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Organization<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> </div><div style="display: inline; font-weight: bold;">- Organization</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The iShares Silver Trust (the &#x201c;Trust&#x201d;) was organized on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 21, 2006 </div>as a New York trust. The trustee is The Bank of New York Mellon (the &#x201c;Trustee&#x201d;), which is responsible for the day-to-day administration of the Trust. The Trust&#x2019;s sponsor is iShares Delaware Trust Sponsor LLC, a Delaware limited liability company (the &#x201c;Sponsor&#x201d;). The Trust is governed by the provisions of the Second Amended and Restated Depositary Trust Agreement (the &#x201c;Trust Agreement&#x201d;) executed by the Trustee and the Sponsor as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 22, 2016. </div>The Trust issues units of beneficial interest (&#x201c;Shares&#x201d;) representing fractional undivided beneficial interests in its net assets.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust seeks to reflect generally the performance of the price of silver. The Trust seeks to reflect such performance before payment of the Trust&#x2019;s expenses and liabilities. The Trust is designed to provide a vehicle for investors to make an investment similar to an investment in silver.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The accompanying unaudited financial statements were prepared in accordance with generally accepted accounting principles in the United States of America (&#x201c;U.S. GAAP&#x201d;) for interim financial information and with the instructions for Form <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-Q and the rules and regulations of the U.S. Securities and Exchange Commission (the &#x201c;SEC&#x201d;). In the opinion of management, all material adjustments, consisting only of normal recurring adjustments considered necessary for a fair statement of the interim period financial statements, have been made. Interim period results are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> necessarily indicative of results for a full-year period. These financial statements and the notes thereto should be read in conjunction with the Trust&#x2019;s financial statements included in its Annual Report on Form&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10&#x2011;K</div> for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>as filed with the SEC on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 28, 2018.</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust qualifies as an investment company solely for accounting purposes and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> for any other purpose and follows the accounting and reporting guidance under the Financial Accounting Standards Board Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">946,</div> <div style="display: inline; font-style: italic;">Financial Services - Investment Companies</div>, but is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> registered, and is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> required to be registered, as an investment company under the Investment Company Act of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1940,</div> as amended.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the business description and basis of presentation concepts.  Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity.  Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -URI http://asc.fasb.org/topic&amp;trid=2122369<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -URI http://asc.fasb.org/topic&amp;trid=2122149<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -URI http://asc.fasb.org/topic&amp;trid=2134479<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803379056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> - Significant Accounting Policies</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">A.</div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Basis of Accounting</div></div> </td> </tr>  </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">B.</div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Silver Bullion</div></div> </td> </tr>  </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">JPMorgan Chase Bank N.A., London branch (the &#x201c;Custodian&#x201d;), is responsible for the safekeeping of silver bullion owned by the Trust.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Fair value of the silver bullion held by the Trust is based on the price per ounce of silver determined in an electronic auction hosted&nbsp;by&nbsp;ICE&nbsp;Benchmark Administration&nbsp;(&#x201c;IBA&#x201d;)&nbsp;that&nbsp;begins at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12:00</div> p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such&nbsp;price,&nbsp;the &#x201c;LBMA Silver Price&#x201d;). If there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> announced LBMA Silver Price on any day, the Trustee is authorized to use the most recently announced LBMA Silver Price unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate as a basis for evaluation. Prior to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,</div>&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the LBMA Silver Price was determined using an electronic auction administered by CME Group Inc. (&#x201c;CME&nbsp;Group&#x201d;) and published by Thomson Reuters. Effective as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2, 2017, </div>IBA replaced CME Group and Thomson Reuters as the administrator for the LBMA Silver Price and began administering the electronic auction for the LBMA Silver Price.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Gain or loss on sales of silver bullion is calculated on a trade date basis using the average cost method.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left"></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following tables summarize activity in silver bullion for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017:</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div> <table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2018</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">322,465,714</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,806,008,238</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,169,125,403</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,467,176</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292,541,629</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292,541,629</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,462,245</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(151,456,941</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(126,949,317</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24,507,624</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(423,814</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,607,119</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,446,950</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,160,169</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25,667,793</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(538,368,056</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,046,831</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,939,485,807</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25,667,793</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr>  </table> </div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div> <table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2017</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">339,605,211</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,235,001,418</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,593,297,824</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,392,577</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">180,668,658</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">180,668,658</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,817,516</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(435,509,224</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(403,286,795</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,222,429</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(422,857</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,742,714</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,146,128</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(596,586</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,819,015</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">178,415,473</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326,757,415</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,972,418,138</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,509,130,017</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,819,015</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr>  </table> </div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following tables summarize activity in silver bullion for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017:</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div> <table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2018 </div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320,629,662</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,831,748,196</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,407,419,250</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">55,163,280</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">880,252,487</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">880,252,487</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41,529,029</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(750,523,168</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(684,717,667</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,805,501</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,217,082</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21,991,708</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,636,834</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,354,874</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68,160,375</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(750,921,945</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,046,831</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,939,485,807</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68,160,375</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr>  </table> </div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div> <table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2017 </div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">341,348,242</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,305,715,839</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,543,495,441</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38,888,176</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649,149,108</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649,149,108</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52,224,977</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(959,371,591</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(899,979,662</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(59,391,929</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,254,026</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,075,218</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21,537,444</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,537,774</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(60,929,703</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">298,932,277</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326,757,415</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,972,418,138</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,509,130,017</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(60,929,703</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr>  </table> </div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">C.</div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Calculation of Net Asset Value</div></div> </td> </tr>  </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">On each business day, as soon as practicable after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4:00</div> p.m. (New York time), the net asset value of the Trust is obtained by subtracting all accrued fees, expenses and other liabilities of the Trust from the fair value of the silver and other assets held by the Trust. The Trustee computes the net asset value per Share by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left"></div> <table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">D. </div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Offering of the Shares</div></div> </td> </tr>  </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Trust Shares are issued and redeemed continuously in aggregations of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50,000</div> Shares in exchange for silver bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the &#x201c;Authorized Participants&#x201d;). Holders of Shares of the Trust <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50,000</div> Shares&#x37e; <div style="display: inline; font-style: italic;">provided</div>, that redemptions of Shares <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be suspended during any period while regular trading on NYSE Arca, Inc. (&#x201c;NYSE Arca&#x201d;) is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of silver is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reasonably practicable.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The per Share amount of silver exchanged for a purchase or redemption represents the per Share amount of silver held by the Trust, after giving effect to its liabilities.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">When silver bullion is exchanged in settlement of a redemption, it is considered a sale of silver bullion for accounting purposes.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">E.</div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Federal Income Taxes</div></div> </td> </tr>  </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust is treated as a grantor trust for federal income tax purposes and, therefore, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> provision for federal income taxes is required. Any interest, expenses, gains and losses are passed through to the holders of Shares of the Trust.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018 </div>and does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe that there are any uncertain tax positions that require recognition of a tax liability.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all significant accounting policies of the reporting entity.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Trust Expenses<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for expenses incurred by the trust.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6634150288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Related Parties<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div> - Related Parties</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee&#x2019;s fee is paid by the Sponsor and is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> a separate expense of the Trust.</div></div><span></span>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6632865984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Indemnification<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803381456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Commitments and Contingent Liabilities<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies Disclosure [Text Block]</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -URI http://asc.fasb.org/topic&amp;trid=2127136<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -URI http://asc.fasb.org/topic&amp;trid=2144648<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6629859168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Concentration Risk<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -URI http://asc.fasb.org/topic&amp;trid=2134479<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6637160224">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Financial Highlights<br></strong></div></th>
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<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_FinancialHighlightsTextBlock', window );">Financial Highlights [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8</div> </div><div style="display: inline; font-weight: bold;">- Financial Highlights</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following financial highlights relate to investment performance and operations for a Share outstanding for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,</div>&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017.</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div> <table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended<br /> September 30,</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /> September 30,</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2018</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2018</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net asset value per Share, beginning of period</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.08</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.58</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.91</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.40</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="width: 48%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.02</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.02</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.06</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.06</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net realized and unrealized gain (loss)<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.62</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.36</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.41</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.58</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net increase (decrease) in net assets from operations</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.64</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.34</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.47</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.52</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net asset value per Share, end of period</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.44</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.92</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.44</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.92</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 48%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total return, at net asset value<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)(d)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.88</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.18</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15.52</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.38</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 48%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">Ratio to average net assets:</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Expenses<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> </tr>  </table> </div> <div style=" margin: 0pt;">&nbsp;</div> <hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0" /> <table style="; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 8pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</div></div> </td> <td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">Based on average Shares outstanding during the period.</div> </td> </tr> <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</div></div> </td> <td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">The amounts reported for a Share outstanding <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> accord with the change in aggregate gains and losses on investment for the period due to the timing of Trust Share transactions in relation to the fluctuating fair values of the Trust&#x2019;s underlying investment.</div> </td> </tr> <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)</div></div> </td> <td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">Based on the change in net asset value of a Share during the period.</div> </td> </tr> <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(d)</div></div> </td> <td colspan="1" style="vertical-align: bottom; width: 80.5%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;">Percentage is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> annualized.</div> </td> </tr> <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <td colspan="1" style="vertical-align: top; width: 2.6%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Investment Valuation<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair Value Disclosures [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> - Investment Valuation</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">U.S. GAAP defines fair value as the price the Trust would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Trust&#x2019;s policy is to value its investment at fair value.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Various inputs are used in determining the fair value of assets and liabilities. Inputs <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be based on independent market data (&#x201c;observable inputs&#x201d;) or they <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be internally developed (&#x201c;unobservable inputs&#x201d;). These inputs are categorized into a disclosure hierarchy consisting of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> levels of the fair value hierarchy are as follows:</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <table style="; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: top;"> <td style="width: 27pt;">&nbsp;</td> <td style="width: 45pt;"> <div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> &#x2013;</div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Unadjusted quoted prices in active markets for identical assets or liabilities;</div> </td> </tr>  </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <table style="; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: top;"> <td style="width: 27pt;">&nbsp;</td> <td style="width: 45pt;"> <div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> &#x2013;</div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Inputs other than quoted prices included within Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> considered to be active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and</div> </td> </tr>  </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <table style="; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0">  <tr style="vertical-align: top;"> <td style="width: 27pt;">&nbsp;</td> <td style="width: 45pt;"> <div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> &#x2013;</div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Unobservable inputs that are unobservable for the asset or liability, including the Trust&#x2019;s assumptions used in determining the fair value of investments.</div> </td> </tr>  </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the value of the silver bullion held by the Trust is categorized as Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -URI http://asc.fasb.org/topic&amp;trid=2155941<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806638208">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of Accounting, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"><tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">A.</div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Basis of Accounting</div></div> </td> </tr> </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentPolicyTextBlock', window );">Investment, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"><tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">B.</div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Silver Bullion</div></div> </td> </tr> </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">JPMorgan Chase Bank N.A., London branch (the &#x201c;Custodian&#x201d;), is responsible for the safekeeping of silver bullion owned by the Trust.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Fair value of the silver bullion held by the Trust is based on the price per ounce of silver determined in an electronic auction hosted&nbsp;by&nbsp;ICE&nbsp;Benchmark Administration&nbsp;(&#x201c;IBA&#x201d;)&nbsp;that&nbsp;begins at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12:00</div> p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such&nbsp;price,&nbsp;the &#x201c;LBMA Silver Price&#x201d;). If there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> announced LBMA Silver Price on any day, the Trustee is authorized to use the most recently announced LBMA Silver Price unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate as a basis for evaluation. Prior to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,</div>&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the LBMA Silver Price was determined using an electronic auction administered by CME Group Inc. (&#x201c;CME&nbsp;Group&#x201d;) and published by Thomson Reuters. Effective as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2, 2017, </div>IBA replaced CME Group and Thomson Reuters as the administrator for the LBMA Silver Price and began administering the electronic auction for the LBMA Silver Price.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Gain or loss on sales of silver bullion is calculated on a trade date basis using the average cost method.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left"></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following tables summarize activity in silver bullion for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017:</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div> <table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2018</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">322,465,714</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,806,008,238</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,169,125,403</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,467,176</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292,541,629</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292,541,629</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,462,245</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(151,456,941</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(126,949,317</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24,507,624</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(423,814</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,607,119</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,446,950</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,160,169</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25,667,793</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(538,368,056</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,046,831</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,939,485,807</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25,667,793</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr> </table> </div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div> <table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2017</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">339,605,211</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,235,001,418</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,593,297,824</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,392,577</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">180,668,658</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">180,668,658</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,817,516</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(435,509,224</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(403,286,795</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,222,429</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(422,857</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,742,714</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,146,128</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(596,586</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,819,015</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">178,415,473</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326,757,415</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,972,418,138</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,509,130,017</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,819,015</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr> </table> </div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The following tables summarize activity in silver bullion for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017:</div></div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div> <table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2018 </div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320,629,662</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,831,748,196</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,407,419,250</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">55,163,280</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">880,252,487</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">880,252,487</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41,529,029</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(750,523,168</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(684,717,667</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,805,501</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,217,082</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21,991,708</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,636,834</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,354,874</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68,160,375</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(750,921,945</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,046,831</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,939,485,807</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68,160,375</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr> </table> </div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div> <table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2017 </div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">341,348,242</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,305,715,839</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,543,495,441</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38,888,176</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649,149,108</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649,149,108</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52,224,977</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(959,371,591</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(899,979,662</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(59,391,929</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,254,026</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,075,218</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21,537,444</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,537,774</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(60,929,703</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">298,932,277</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326,757,415</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,972,418,138</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,509,130,017</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(60,929,703</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr> </table> </div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_CalculationOfNetAssetValuePolicyTextBlock', window );">Calculation of Net Asset Value [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"><tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">C.</div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Calculation of Net Asset Value</div></div> </td> </tr> </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">On each business day, as soon as practicable after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4:00</div> p.m. (New York time), the net asset value of the Trust is obtained by subtracting all accrued fees, expenses and other liabilities of the Trust from the fair value of the silver and other assets held by the Trust. The Trustee computes the net asset value per Share by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made.</div></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_OfferingOfTheSharesPolicyTextBlock', window );">Offering of the Shares [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"><tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">D. </div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Offering of the Shares</div></div> </td> </tr> </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Trust Shares are issued and redeemed continuously in aggregations of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50,000</div> Shares in exchange for silver bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the &#x201c;Authorized Participants&#x201d;). Holders of Shares of the Trust <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50,000</div> Shares&#x37e; <div style="display: inline; font-style: italic;">provided</div>, that redemptions of Shares <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be suspended during any period while regular trading on NYSE Arca, Inc. (&#x201c;NYSE Arca&#x201d;) is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of silver is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reasonably practicable.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The per Share amount of silver exchanged for a purchase or redemption represents the per Share amount of silver held by the Trust, after giving effect to its liabilities.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">When silver bullion is exchanged in settlement of a redemption, it is considered a sale of silver bullion for accounting purposes.</div></div></div></div><span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Tax, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"><tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 2%; vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">E.</div></div> </td> <td style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 98%;"> <div style=" font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"><div style="display: inline; font-style: italic;">Federal Income Taxes</div></div> </td> </tr> </table> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Trust is treated as a grantor trust for federal income tax purposes and, therefore, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> provision for federal income taxes is required. Any interest, expenses, gains and losses are passed through to the holders of Shares of the Trust.</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018 </div>and does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe that there are any uncertain tax positions that require recognition of a tax liability.</div></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The method used by the entity to calculate the net asset value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for creation and redemption of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32847-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32247-109318<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32280-109318<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65884525&amp;loc=d3e40913-109327<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6617943200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Schedules of Investments (Unaudited) (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentTableTextBlock', window );">Investment [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Description</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,046,831</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,939,485,807</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total Investment &#x2013; 100.04%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less Liabilities &#x2013;&nbsp;(0.04)%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,960,217</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net Assets &#x2013;&nbsp;100.00%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,762,274,699</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Description</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320,629,662</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,831,748,196</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,407,419,250</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total Investment &#x2013;&nbsp;100.04%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,407,419,250</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less Liabilities &#x2013;&nbsp;(0.04)%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,225,399</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net Assets &#x2013;&nbsp;100.00%</div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,405,193,851</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">&nbsp;</td> </tr> </table></div><span></span>
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</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A table of investments, shown as a text block.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 6<br> -Section 10<br> -Paragraph (c)<br> -Subparagraph (1)<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentTableTextBlock</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>invest_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TableTextBlock">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6633591984">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Significant Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2018</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2018</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">322,465,714</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,806,008,238</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,169,125,403</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,467,176</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292,541,629</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292,541,629</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,462,245</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(151,456,941</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(126,949,317</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24,507,624</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(423,814</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,607,119</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,446,950</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,160,169</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25,667,793</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(538,368,056</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,046,831</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,939,485,807</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25,667,793</div></td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;" nowrap="nowrap">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2017</div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">339,605,211</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,235,001,418</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,593,297,824</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,392,577</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">180,668,658</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">180,668,658</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,817,516</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(435,509,224</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(403,286,795</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,222,429</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(422,857</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,742,714</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,146,128</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(596,586</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,819,015</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">178,415,473</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326,757,415</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,972,418,138</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,509,130,017</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,819,015</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2018 </div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320,629,662</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,831,748,196</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,407,419,250</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">55,163,280</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">880,252,487</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">880,252,487</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41,529,029</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(750,523,168</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(684,717,667</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,805,501</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,217,082</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21,991,708</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,636,834</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,354,874</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68,160,375</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(750,921,945</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,046,831</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,939,485,807</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,764,234,916</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68,160,375</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2017 </div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Ounces</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br /> <div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair<br /> Value</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Realized<br /> Gain (Loss)</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Beginning balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">341,348,242</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,305,715,839</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,543,495,441</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion contributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38,888,176</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649,149,108</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">649,149,108</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion distributed</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52,224,977</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(959,371,591</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(899,979,662</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(59,391,929</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Silver bullion sold to pay expenses</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,254,026</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,075,218</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21,537,444</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,537,774</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net realized loss</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(60,929,703</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net change in unrealized appreciation/depreciation</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">298,932,277</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Ending balance</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326,757,415</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,972,418,138</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,509,130,017</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(60,929,703</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the ounces, average cost, fair value and realized gain (loss) related to activity in silver bullion.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Financial Highlights (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended<br /> September 30,</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 19211%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /> September 30,</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2018</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2018</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div> </td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net asset value per Share, beginning of period</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.08</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.58</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.91</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.40</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="width: 48%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.02</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.02</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.06</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.06</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net realized and unrealized gain (loss)<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.62</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.36</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.41</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.58</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net increase (decrease) in net assets from operations</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.64</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.34</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.47</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;" nowrap="nowrap">)</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.52</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net asset value per Share, end of period</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.44</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.92</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.44</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.92</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;" nowrap="nowrap">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 48%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total return, at net asset value<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)(d)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.88</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.18</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15.52</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.38</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 48%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 1%;">&nbsp;</td> <td style="width: 9%;">&nbsp;</td> <td style="width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;">Ratio to average net assets:</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 9%;">&nbsp;</td> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%)</div> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%;"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Expenses<div style="display: inline; FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</div></div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div></td> <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;" nowrap="nowrap"> <div style=" font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">%</div> </td> </tr> </table></div><span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial highlights table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TableTextBlock</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R21.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810937664">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Schedules of Investments (Unaudited) - Investments (Details)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2018 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Jun. 30, 2018 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Sep. 30, 2017 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverBullionBalance', window );">Silver bullion (Ounce) | oz</a></td>
<td class="nump">333,046,831<span></span>
</td>
<td class="nump">322,465,714<span></span>
</td>
<td class="nump">320,629,662<span></span>
</td>
<td class="nump">326,757,415<span></span>
</td>
<td class="nump">339,605,211<span></span>
</td>
<td class="nump">341,348,242<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtCost', window );">Investment in silver bullion, cost</a></td>
<td class="nump">$ 5,939,485,807<span></span>
</td>
<td class="nump">$ 5,806,008,238<span></span>
</td>
<td class="nump">$ 5,831,748,196<span></span>
</td>
<td class="nump">$ 5,972,418,138<span></span>
</td>
<td class="nump">$ 6,235,001,418<span></span>
</td>
<td class="nump">$ 6,305,715,839<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Silver bullion fair value</a></td>
<td class="nump">4,764,234,916<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,407,419,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Less Liabilities</a></td>
<td class="num">(1,960,217)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,225,399)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiability', window );">Net Assets</a></td>
<td class="nump">$ 4,762,274,699<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,405,193,851<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,541,130,643<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverBullionBalance">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ounces of silver bullion held by the trust.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>num:massItemType</td>
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<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueNetAssetLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of asset after deduction of liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>debit</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedAtCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost of the investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99383244&amp;loc=d3e12121-115841<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of the investment at close of period. For schedules of investments that are categorized, the value would be aggregated by category. For investment in and advances to affiliates, if operations of any controlled companies are different in character from those of the company, group such affiliates within divisions and by type of activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99383244&amp;loc=d3e12121-115841<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-12C.Column C.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611225-123010<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 6<br> -Subparagraph (SX 210.12-14.Column E.2,3)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611322-123010<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-12.Column C.3,4)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611133-123010<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SX 210.12-13.Column C.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611282-123010<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedAtFairValue</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesFairValueDisclosure">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial and nonfinancial obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=99377789&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesFairValueDisclosure</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6751271040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Schedules of Investments (Unaudited) - Investments (Details) (Parentheticals)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedPercentOfNetAssets', window );">Total investment, percentage of net asset value</a></td>
<td class="nump">100.04%<span></span>
</td>
<td class="nump">100.04%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets', window );">Less liabilities, percentage of net asset value</a></td>
<td class="num">(0.04%)<span></span>
</td>
<td class="num">(0.04%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_NetAssetsPercentageOfNetAssets', window );">Net assets, percentage of net asset value</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_NetAssetsPercentageOfNetAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of net assets of net assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_NetAssetsPercentageOfNetAssets</td>
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<tr>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedPercentOfNetAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percent of net assets at close of period. For schedules of investments that are categorized, each category has a percent of net assets for the aggregated value of the Investments in the category.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-12.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611133-123010<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99383244&amp;loc=d3e12121-115841<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-12C.Column D.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611225-123010<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedPercentOfNetAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percent of net assets of non investment assets and liabilities. This represents the percentage difference between the investments, including long and short positions, and net assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6631288176">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 2 - Significant Accounting Policies (Details Textual)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2018 </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SharesPrescribedAggregation', window );">Shares Prescribed Aggregation</a></td>
<td class="nump">50,000<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SharesPrescribedAggregation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Prescribed aggregation at which shares are issued and redeemed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SharesPrescribedAggregation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6813034624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Significant Accounting Policies - Activity in Silver Bullion (Details)<br></strong></div></th>
<th class="th" colspan="3">3 Months Ended</th>
<th class="th" colspan="3">9 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th" colspan="2">
<div>Sep. 30, 2018 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Sep. 30, 2017 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th" colspan="2">
<div>Sep. 30, 2018 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Sep. 30, 2017 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th" colspan="2">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverBullionBalance', window );">Beginning balance (Ounce) | oz</a></td>
<td class="nump">322,465,714<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">339,605,211<span></span>
</td>
<td class="nump">320,629,662<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">341,348,242<span></span>
</td>
<td class="nump">341,348,242<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverContributed', window );">Silver bullion contributed (Ounce) | oz</a></td>
<td class="nump">19,467,176<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">11,392,577<span></span>
</td>
<td class="nump">55,163,280<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">38,888,176<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverDistributed', window );">Silver bullion distributed (Ounce) | oz</a></td>
<td class="num">(8,462,245)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(23,817,516)<span></span>
</td>
<td class="num">(41,529,029)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(52,224,977)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverSold', window );">Silver bullion sold to pay expenses (Ounce) | oz</a></td>
<td class="num">(423,814)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(422,857)<span></span>
</td>
<td class="num">(1,217,082)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,254,026)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverBullionBalance', window );">Ending balance (Ounce) | oz</a></td>
<td class="nump">333,046,831<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">326,757,415<span></span>
</td>
<td class="nump">333,046,831<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">326,757,415<span></span>
</td>
<td class="nump">320,629,662<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtCost', window );">Beginning balance, average cost</a></td>
<td class="nump">$ 5,806,008,238<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 6,235,001,418<span></span>
</td>
<td class="nump">$ 5,831,748,196<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 6,305,715,839<span></span>
</td>
<td class="nump">$ 6,305,715,839<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverContributedAverageCost', window );">Silver bullion contributed, average cost</a></td>
<td class="nump">292,541,629<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">180,668,658<span></span>
</td>
<td class="nump">880,252,487<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">649,149,108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverDistributedAverageCost', window );">Silver bullion distributed, average cost</a></td>
<td class="num">(151,456,941)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(435,509,224)<span></span>
</td>
<td class="num">(750,523,168)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(959,371,591)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverSoldAverageCost', window );">Silver bullion sold to pay expenses, average cost</a></td>
<td class="num">(7,607,119)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(7,742,714)<span></span>
</td>
<td class="num">(21,991,708)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(23,075,218)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtCost', window );">Ending balance, average cost</a></td>
<td class="nump">5,939,485,807<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,972,418,138<span></span>
</td>
<td class="nump">5,939,485,807<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,972,418,138<span></span>
</td>
<td class="nump">5,831,748,196<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure', window );">Beginning balance, fair value</a></td>
<td class="nump">5,169,125,403<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,593,297,824<span></span>
</td>
<td class="nump">5,407,419,250<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5,543,495,441<span></span>
</td>
<td class="nump">5,543,495,441<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverContributedFairValue', window );">Silver bullion contributed, fair value</a></td>
<td class="nump">292,541,629<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">180,668,658<span></span>
</td>
<td class="nump">880,252,487<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">649,149,108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverDistributedFairValue', window );">Silver bullion distributed, fair value</a></td>
<td class="num">(126,949,317)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(403,286,795)<span></span>
</td>
<td class="num">(684,717,667)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(899,979,662)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverSoldFairValue', window );">Silver bullion sold to pay expenses, fair value</a></td>
<td class="num">(6,446,950)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(7,146,128)<span></span>
</td>
<td class="num">(19,636,834)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(21,537,444)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealizedInvestmentGainsLosses', window );">Net realized gain (loss), fair value</a></td>
<td class="num">(25,667,793)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(32,819,015)<span></span>
</td>
<td class="num">(68,160,375)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(60,929,703)<span></span>
</td>
<td class="num">(92,120,817)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnInvestments', window );">Net change in unrealized appreciation/depreciation, fair value</a></td>
<td class="num">(538,368,056)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">178,415,473<span></span>
</td>
<td class="num">(750,921,945)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">298,932,277<span></span>
</td>
<td class="nump">337,891,452<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure', window );">Ending balance, fair value</a></td>
<td class="nump">4,764,234,916<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5,509,130,017<span></span>
</td>
<td class="nump">4,764,234,916<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5,509,130,017<span></span>
</td>
<td class="nump">5,407,419,250<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares', window );">Silver bullion distributed, realized gain (loss)</a></td>
<td class="num">(24,507,624)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(32,222,429)<span></span>
</td>
<td class="num">(65,805,501)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(59,391,929)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses', window );">Silver bullion sold to pay expenses, realized gain (loss)</a></td>
<td class="num">(1,160,169)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(596,586)<span></span>
</td>
<td class="num">(2,354,874)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,537,774)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealizedInvestmentGainsLosses', window );">Ending balance, realized gain (loss)</a></td>
<td class="num">$ (25,667,793)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (32,819,015)<span></span>
</td>
<td class="num">$ (68,160,375)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (60,929,703)<span></span>
</td>
<td class="num">$ (92,120,817)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="9"></td></tr>
<tr><td colspan="9"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Cost of investment in silver bullion: $5,939,485,807 and $5,831,748,196, respectively.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net realized gain (loss) from silver distributed for the redemption of shares during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverBullionBalance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ounces of silver bullion held by the trust.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverBullionBalance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverContributed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ounces of silver bullion contributed for the creation of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverContributed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverContributedAverageCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average cost of silver bullion contributed for the creation of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverContributedAverageCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverContributedFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of silver bullion contributed for the creation of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverContributedFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverDistributed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ounces of silver bullion distributed for the redemption of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverDistributed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverDistributedAverageCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average cost of silver bullion distributed for the redemption of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverDistributedAverageCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverDistributedFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of silver bullion distributed for the redemption of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverDistributedFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ounces of silver bullion sold to pay the trust's expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverSoldAverageCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average cost of silver bullion sold to pay the trust's expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverSoldAverageCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SilverSoldFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of silver bullion sold to pay the trust's expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SilverSoldFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) related to the sale of trust assets (includes, but is not limited to, gold and silver) to pay trust expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of investment held in physical commodities, for example, but not limited to, gold, silver, platinum, crude oil, coal, sugar, rice, wheat.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=99377789&amp;loc=d3e19190-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedAtCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cost of the investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99383244&amp;loc=d3e12121-115841<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedAtCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealizedInvestmentGainsLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net realized gains or losses on investments during the period, not including gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.3(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealizedInvestmentGainsLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrealizedGainLossOnInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803437296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Trust Expenses (Details Textual)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Sep. 30, 2018 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue', window );">Sponsor's Fee Annualized Accrual Rate Based on Daily Net Asset Value</a></td>
<td class="nump">0.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_LegalFeesPerYear', window );">Legal Fees Per Year</a></td>
<td class="nump">$ 100,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_LegalFeesPerYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum per annum in legal fees and expenses the sponsor has agreed to assume.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_LegalFeesPerYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sponsor's fee annualized accrual rate based on daily net asset value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810825456">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Financial Highlights - Financial Highlights (Details) - $ / shares<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TemporaryEquityRedemptionPricePerShare', window );">Net asset value per Share, beginning of period (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 15.08<span></span>
</td>
<td class="nump">$ 15.58<span></span>
</td>
<td class="nump">$ 15.91<span></span>
</td>
<td class="nump">$ 15.40<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_NetInvestmentIncomeLossPerShare', window );">Net investment loss(a) (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(0.02)<span></span>
</td>
<td class="num">(0.02)<span></span>
</td>
<td class="num">(0.06)<span></span>
</td>
<td class="num">(0.06)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_NetRealizedAndUnrealizedGainLossPerShare', window );">Net realized and unrealized gain (loss)(b) (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(1.62)<span></span>
</td>
<td class="nump">0.36<span></span>
</td>
<td class="num">(2.41)<span></span>
</td>
<td class="nump">0.58<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare', window );">Net increase (decrease) in net assets from operations (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1.64)<span></span>
</td>
<td class="nump">0.34<span></span>
</td>
<td class="num">(2.47)<span></span>
</td>
<td class="nump">0.52<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TemporaryEquityRedemptionPricePerShare', window );">Net asset value per Share, end of period (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 13.44<span></span>
</td>
<td class="nump">$ 15.92<span></span>
</td>
<td class="nump">$ 13.44<span></span>
</td>
<td class="nump">$ 15.92<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_TotalReturn', window );">Total return, at net asset value(c)(d)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="num">(10.88%)<span></span>
</td>
<td class="nump">2.18%<span></span>
</td>
<td class="num">(15.52%)<span></span>
</td>
<td class="nump">3.38%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_RatioToAverageNetAssetsAbstract', window );"><strong>Ratio to average net assets:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_NetInvestmentGainLossToAverageNetAssetsRatio', window );">Net investment loss(e)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="num">(0.50%)<span></span>
</td>
<td class="num">(0.50%)<span></span>
</td>
<td class="num">(0.50%)<span></span>
</td>
<td class="num">(0.50%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_ExpensesToAverageNetAssetsRatio', window );">Expenses(e)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="nump">0.50%<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Based on average Shares outstanding during the period.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">The amounts reported for a Share outstanding may not accord with the change in aggregate gains and losses on investment for the period due to the timing of Trust Share transactions in relation to the fluctuating fair values of the Trust's underlying investment.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Based on the change in net asset value of a Share during the period.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Percentage is not annualized.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">Percentage is annualized.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_ExpensesToAverageNetAssetsRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ratio of expenses to average net assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_ExpensesToAverageNetAssetsRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net increase (decrease) in net assets from operations per Share during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_NetInvestmentGainLossToAverageNetAssetsRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ratio of net investment gain (loss) to average net assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_NetInvestmentGainLossToAverageNetAssetsRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_NetInvestmentIncomeLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net investment income (loss) per share during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_NetInvestmentIncomeLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_NetRealizedAndUnrealizedGainLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net realized and unrealized gain (loss) per share during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_NetRealizedAndUnrealizedGainLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_RatioToAverageNetAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ratio to average net assets [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_RatioToAverageNetAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_TotalReturn">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total return at net asset value for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">slv_TotalReturn</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TemporaryEquityRedemptionPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount to be paid per share that is classified as temporary equity by entity upon redemption. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 480<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65877616&amp;loc=d3e177068-122764<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (27)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TemporaryEquityRedemptionPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
