<SEC-DOCUMENT>0001437749-20-009629.txt : 20200507
<SEC-HEADER>0001437749-20-009629.hdr.sgml : 20200507
<ACCEPTANCE-DATETIME>20200506174611
ACCESSION NUMBER:		0001437749-20-009629
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		43
CONFORMED PERIOD OF REPORT:	20200331
FILED AS OF DATE:		20200507
DATE AS OF CHANGE:		20200506

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:		20853838

	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>
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<TYPE>10-Q
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<ix:footnote xml:lang="en-us" id="f7cae7895-0607-4e16-b468-f274e7578ca9">Based on the change in net asset value of a Share during the period.</ix:footnote>
<ix:footnote xml:lang="en-us" id="f8ba388e0-e8b9-47af-8eaa-469ed52968af">Net decrease in net assets per Share based on average shares outstanding during the period.</ix:footnote>
<ix:footnote xml:lang="en-us" id="f67ea15fa-cb54-489c-ae90-ea0c0437e2a7">Percentage is annualized.</ix:footnote>
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<ix:footnote xml:lang="en-us" id="fd201dabf-b56d-481a-ae1f-7d7865a2ed63">Cost of investment in silver bullion: $6,681,432,888 and $6,294,157,046, respectively.</ix:footnote>
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  <div><p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
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<p style="margin: 0pt; font-family: Arial; font-size: 18pt; text-align: center;"><b>UNITED STATES</b></p>
<p style="font-family: Arial; font-size: 18pt; margin: 0pt; text-align: center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>Washington, D.C. 20549</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;">&#xa0;</p>
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<p style="font-family: Arial; font-size: 18pt; margin: 0pt; text-align: center;"><b>FORM <ix:nonNumeric name="dei:DocumentType" contextRef="d_2020-01-01_2020-03-31">10-Q</ix:nonNumeric></b></p>
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<p style="margin: 0pt; font-family: Arial; font-size: 10pt;">&#xa0;</p>
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   <td style="width: 36pt; font-family: Arial; font-size: 12pt;"> <p style="margin: 0pt; text-align: left; font-family: Arial; font-size: 12pt;"><ix:nonNumeric name="dei:DocumentQuarterlyReport" format="ixt-sec:boolballotbox" contextRef="d_2020-01-01_2020-03-31">&#x2612;</ix:nonNumeric></p> </td>
   <td style="font-family: Arial; font-size: 12pt;"> <p style="margin: 0pt; text-align: left; font-family: Arial; font-size: 12pt;"><span style="text-transform: uppercase; font-family: Arial; font-size: 12pt;"><b>Quarterly report pursuant to Section 13 or 15(<span style="text-transform:lowercase;">d</span></b><b>) of the Securities Exchange Act of</b><b> 1934</b></span></p> </td>
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   <td style="width: 36pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
   <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>For the quarterly period ended <ix:nonNumeric name="dei:DocumentPeriodEndDate" format="ixt:datemonthdayyearen" contextRef="d_2020-01-01_2020-03-31">March 31, 2020</ix:nonNumeric></b></td>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>or</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>&#xa0;</b></p>
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   <td style="width: 36pt; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"> <p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><ix:nonNumeric name="dei:DocumentTransitionReport" format="ixt-sec:boolballotbox" contextRef="d_2020-01-01_2020-03-31">&#x2610;</ix:nonNumeric></p> </td>
   <td style="font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"> <p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><span style="text-transform: uppercase; font-family: Arial, Helvetica, sans-serif; font-size: 12pt;"><b>Transition report pursuant to Section 13 or 15(</b><span style="text-transform:lowercase;"><b>d</b></span><b>) of the Securities Exchange Act of </b><b>1934</b></span></p> </td>
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   <td style="width: 36pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</p> </td>
   <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>For the transition period from&#xa0;<span style="text-decoration: underline; "> &#xa0; &#xa0; &#xa0; &#xa0; &#xa0; &#xa0; &#xa0; &#xa0;</span> to&#xa0;<span style="text-decoration: underline; ">&#xa0; &#xa0; &#xa0; &#xa0; &#xa0; &#xa0; &#xa0; &#xa0;</span></b></p> </td>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>&#xa0;&#xa0;</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>Commission File Number: <ix:nonNumeric name="dei:EntityFileNumber" contextRef="d_2020-01-01_2020-03-31">001-32863</ix:nonNumeric></b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
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<p style="font-family: Arial; font-size: 18pt; margin: 0pt; text-align: center;"><b>iShares<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">&#xae;</span> Silver Trust</b></p>
<p style="font-family: Arial; font-size: 8pt; margin: 0pt; text-align: center;"><b>(Exact name of registrant as specified in its charter)</b></p>
<p style="font-family: Arial; font-size: 8pt; margin: 0pt; text-align: center;"><b>&#xa0;</b></p>
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   <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" contextRef="d_2020-01-01_2020-03-31">13-7474456</ix:nonNumeric></b></p> </td>
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   <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">&#xa0;</td>
   <td style="vertical-align: top; width: 45%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: center;"><b>(I.R.S. Employer</b></p> </td>
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   <td style="vertical-align: top; width: 45%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <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: 8pt;">&#xa0;</td>
   <td style="vertical-align: top; width: 45%; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <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; font-size: 10pt; margin: 0pt; text-align: center;"><b>&#xa0;</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>c/o iShares Delaware Trust Sponsor LLC</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><ix:nonNumeric name="dei:EntityAddressAddressLine1" contextRef="d_2020-01-01_2020-03-31"><b>400 Howard Street</b></ix:nonNumeric></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b><ix:nonNumeric name="dei:EntityAddressCityOrTown" contextRef="d_2020-01-01_2020-03-31">San Francisco</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressStateOrProvince" format="ixt-sec:stateprovnameen" contextRef="d_2020-01-01_2020-03-31">California</ix:nonNumeric> <ix:nonNumeric name="dei:EntityAddressPostalZipCode" contextRef="d_2020-01-01_2020-03-31">94105</ix:nonNumeric></b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>Attn: Product Management Team</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>iShares Product Research &amp; Development</b></p>
<p style="font-family: Arial; font-size: 8pt; margin: 0pt; text-align: center;"><b>(Address of principal executive offices)(Zip Code)</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>&#xa0;</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>(<ix:nonNumeric name="dei:CityAreaCode" contextRef="d_2020-01-01_2020-03-31">415</ix:nonNumeric>)<ix:nonNumeric name="dei:LocalPhoneNumber" contextRef="d_2020-01-01_2020-03-31"> 670-2000</ix:nonNumeric></b></p>
<p style="font-family: Arial; font-size: 8pt; margin: 0pt; text-align: center;"><b>(Registrant&#x2019;s telephone number, including area code)</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>&#xa0;</b></p>
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<p style="margin: 0pt; font-family: Arial; font-size: 10pt; text-align: center;"><b>N/A</b></p>
<p style="font-family: Arial; font-size: 8pt; margin: 0pt; text-align: center;"><b>(Former name, former address and former fiscal year, if changed since last report)</b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>&#xa0;</b></p>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
<p style="font-family: Arial; 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. <ix:nonNumeric name="dei:EntityCurrentReportingStatus" contextRef="d_2020-01-01_2020-03-31">Yes</ix:nonNumeric> &#x2612; No &#x2610;</p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt;">&#xa0;</p>
<p style="font-family: Arial; 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 (&#xa7;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). <ix:nonNumeric name="dei:EntityInteractiveDataCurrent" contextRef="d_2020-01-01_2020-03-31">Yes</ix:nonNumeric>&#xa0;&#x2612; No &#x2610;</p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt;">&#xa0;</p>
<p style="font-family: Arial; 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 &#x201c;large accelerated filer,&#x201d; &#x201c;accelerated filer,&#x201d; &#x201c;smaller reporting company&#x201d; and &#x201c;emerging growth company&#x201d; in Rule 12b-2 of the Exchange Act.</p>
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   <td style="width: 33%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><ix:nonNumeric name="dei:EntityFilerCategory" format="ixt-sec:entityfilercategoryen" contextRef="d_2020-01-01_2020-03-31">Large accelerated filer</ix:nonNumeric>&#xa0;&#x2612;</td>
   <td style="width: 33%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Accelerated filer &#x2610;</td>
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   <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Non-accelerated filer&#xa0;&#x2610;</td>
   <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Smaller reporting company&#xa0;<ix:nonNumeric name="dei:EntitySmallBusiness" format="ixt-sec:boolballotbox" contextRef="d_2020-01-01_2020-03-31">&#x2610;</ix:nonNumeric></td>
   <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">Emerging growth company <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" format="ixt-sec:boolballotbox" contextRef="d_2020-01-01_2020-03-31">&#x2610;</ix:nonNumeric></td>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt;">&#xa0;</p>
<p style="font-family: Arial; 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. &#x2610;</p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
<p style="font-family: Arial; 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&#xa0;<ix:nonNumeric name="dei:EntityShellCompany" format="ixt-sec:boolballotbox" contextRef="d_2020-01-01_2020-03-31">&#x2610;</ix:nonNumeric> No &#x2612;</p>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;">Securities registered pursuant to Section 12(b) of the Act:</p>
<p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p>
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   <td style="vertical-align: top; border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; width: 33%; 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;">Title of each class</p> </td>
   <td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 34%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;">Trading Symbol(s)</p> </td>
   <td style="vertical-align: top; border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; width: 33%; 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;">Name of each exchange on which registered</p> </td>
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   <td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 33%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><ix:nonNumeric name="dei:Security12bTitle" contextRef="d_2020-01-01_2020-03-31">Shares</ix:nonNumeric></p> </td>
   <td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 34%; 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;"><ix:nonNumeric name="dei:TradingSymbol" contextRef="d_2020-01-01_2020-03-31">SLV</ix:nonNumeric></p> </td>
   <td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 33%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><ix:nonNumeric name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" contextRef="d_2020-01-01_2020-03-31">NYSE Arca, Inc.</ix:nonNumeric></p> </td>
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<p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p>
<p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">As of April 30, 2020, the Registrant had <ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" scale="0" unitRef="Share" decimals="INF" format="ixt:numdotdecimal" contextRef="i_2020-04-30">442,600,000</ix:nonFraction> Shares outstanding.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b><a id="toc" href="#"></a>Table of Contents</b></p>
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     <td style="vertical-align: top; width: 7%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b><span style="text-decoration: underline; ">Page</span></b></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 &#x2013; 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: left;">&#xa0;</p> </td>
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     <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="#part1" 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>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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="#part1" style="-sec-extract:exhibit;">Statements of Assets and Liabilities at March 31, 2020 and December 31, 2019</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>
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     <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="#ops" style="-sec-extract:exhibit;">Statements of Operations for the three months ended March 31, 2020 and 2019</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>
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     <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 three months ended March 31, 2020 and 2019</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>
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     <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="#cf" style="-sec-extract:exhibit;">Statements of Cash Flows for the three months ended March 31, 2020 and 2019</a></p> </td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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="#schedules" style="-sec-extract:exhibit;">Schedules of Investments at March 31, 2020 and December 31, 2019</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>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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;">7</p> </td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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&#x2019;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;">11</p> </td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 7%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">12</p> </td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">12</p> </td>
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     <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 &#x2013; OTHER INFORMATION</a></p> </td>
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     <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;">13</p> </td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 84%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">13</p> </td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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="#salesequity" 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;">13</p> </td>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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>
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     <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>
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     <td style="vertical-align: top; width: 9%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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="#otherinfo" 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;">13</p> </td>
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     <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;">15</p> </td>
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      <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
     </div>
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     <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" href="#"></a>PART I&#xa0;&#x2013; FINANCIAL INFORMATION</b></p> </td>
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     <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>&#xa0;</b></p> </td>
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     <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>Item 1. Financial Statements</b></p> </td>
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     <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>iShares Silver Trust</b></p> </td>
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     <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>
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     <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 March 31, 2020 and December 31, 2019</p> </td>
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      <td colspan="2" 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>March 31,</b></b></p> </td>
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      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2020</b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2019</b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68.1%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Investment in silver bullion, at fair value<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td 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 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);"><ix:nonFraction id="c60134472" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure" scale="0">5,507,482,733</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td 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 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);"><ix:nonFraction id="c60134473" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure" scale="0">6,543,418,555</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total Assets</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134476" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:AssetsFairValueDisclosure" scale="0">5,507,482,733</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134477" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:AssetsFairValueDisclosure" scale="0">6,543,418,555</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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&#x2019;s fees payable</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134479" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:AccountsPayableFairValueDisclosure" scale="0">2,365,640</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134480" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:AccountsPayableFairValueDisclosure" scale="0">2,659,990</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total Liabilities</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134481" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:LiabilitiesFairValueDisclosure" scale="0">2,365,640</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134482" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:LiabilitiesFairValueDisclosure" scale="0">2,659,990</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;"> <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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">&#x2014;<ix:nonFraction id="c60134483" contextRef="i_2020-03-31" unitRef="USD" xsi:nil="true" name="us-gaap:CommitmentsAndContingencies" scale="0"></ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">&#x2014;<ix:nonFraction id="c60134484" contextRef="i_2019-12-31" unitRef="USD" xsi:nil="true" name="us-gaap:CommitmentsAndContingencies" scale="0"></ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;"> <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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</td>
      <td 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 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);"><ix:nonFraction id="c60134485" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueNetAssetLiability" scale="0">5,505,117,093</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</td>
      <td 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 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);"><ix:nonFraction id="c60134486" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueNetAssetLiability" scale="0">6,540,758,565</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;"> <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<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</span></p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134487" contextRef="i_2020-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquitySharesOutstanding" scale="0">423,700,000</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134488" contextRef="i_2019-12-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquitySharesOutstanding" scale="0">388,100,000</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;"> <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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134501" contextRef="i_2020-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityRedemptionPricePerShare" scale="0">12.99</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134502" contextRef="i_2019-12-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityRedemptionPricePerShare" scale="0">16.85</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
    </tbody>
   </table>
  </div>
  <p style="margin: 0pt;">&#xa0;</p>
  <hr />
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
     <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
     <td style="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;">Cost of investment in silver bullion: $6,681,432,888 and $6,294,157,046, respectively.</p> </td>
    </tr>
    <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
     <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</span></p> </td>
     <td style="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;">No par value, unlimited amount authorized.</p> </td>
    </tr>
   </tbody>
  </table>
  <p style="margin: 0pt;">&#xa0;</p>
  <p style="margin: 0pt;">&#xa0;</p>
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     <td colspan="12" 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>
     <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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   </tbody>
  </table>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><i>&#xa0;</i></p>
  <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
   <div class="PGFTR" style="text-align: center; width: 100%">
    <div class="hf-row">
     <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       1
     </div>
    </div>
   </div>
   <hr />
   <div class="PGHDR" style="text-align: left; width: 100%">
    <div class="hf-row">
     <div class="hf-cell TOCLink" style="display: inline-block; text-align: left;">
      <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
     </div>
    </div>
   </div>
  </div>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b><a id="ops" href="#"></a>iShares Silver Trust</b></p>
  <div>
    &#xa0;
  </div>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>Statements of Operations (Unaudited)</b></p>
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     <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 three months ended March 31, 2020 and 2019</p> </td>
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   </tbody>
  </table>
  <p style="margin: 0pt;">&#xa0;</p>
  <div>
   <table cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;">
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      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</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: 16%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Three Months Ended<br /> March 31, </b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</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%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2020</b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</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%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2019</b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;"><b>Expenses</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&#xa0;</b></td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Sponsor&#x2019;s fees</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><ix:nonFraction id="c60134504" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SponsorsFees" scale="0">7,676,949</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><ix:nonFraction id="c60134505" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SponsorsFees" scale="0">5,951,914</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 expenses</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134506" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:OperatingExpenses" scale="0">7,676,949</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134507" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:OperatingExpenses" scale="0">5,951,914</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 investment loss</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134508" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:OperatingIncomeLoss" sign="-" scale="0">7,676,949</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134509" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:OperatingIncomeLoss" sign="-" scale="0">5,951,914</ix:nonFraction></td>
      <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
      <td style="width: 70%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Net Realized and Unrealized Gain (Loss)</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"><b>&#xa0;</b></td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-left: 18pt; width: 70%;">Net realized gain (loss) from:</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 36pt;">Silver bullion sold to pay expenses</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134512" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses" scale="0">74,640</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134513" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses" sign="-" scale="0">785,783</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Silver bullion distributed for the redemption of Shares</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134514" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares" sign="-" scale="0">9,645,349</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134515" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares" sign="-" scale="0">42,268,535</ix:nonFraction></td>
      <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Net realized loss</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134516" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">9,570,709</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134517" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">43,054,318</ix:nonFraction></td>
      <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Net change in unrealized appreciation/depreciation</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134518" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:UnrealizedGainLossOnInvestments" sign="-" scale="0">1,423,211,664</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134519" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:UnrealizedGainLossOnInvestments" sign="-" scale="0">69,197,383</ix:nonFraction></td>
      <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 realized and unrealized loss</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134520" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:GainLossOnInvestments" sign="-" scale="0">1,432,782,373</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134521" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:GainLossOnInvestments" sign="-" scale="0">112,251,701</ix:nonFraction></td>
      <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 decrease in net assets resulting from operations</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(<ix:nonFraction id="c60134522" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:NetIncomeLoss" sign="-" scale="0">1,440,459,322</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(<ix:nonFraction id="c60134523" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:NetIncomeLoss" sign="-" scale="0">118,203,615</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 70%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 decrease in net assets per Share<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134524" contextRef="d_2020-01-01_2020-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:EarningsPerShareBasic" sign="-" scale="0">3.69</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134525" contextRef="d_2019-01-01_2019-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:EarningsPerShareBasic" sign="-" scale="0">0.36</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
     </tr>
    </tbody>
   </table>
  </div>
  <p style="margin: 0pt;">&#xa0;</p>
  <hr />
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
     <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
     <td style="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;">Net&#xa0;decrease&#xa0;in&#xa0;net&#xa0;assets&#xa0;per&#xa0;Share&#xa0;based&#xa0;on&#xa0;average&#xa0;shares&#xa0;outstanding&#xa0;during&#xa0;the&#xa0;period.</p> </td>
    </tr>
   </tbody>
  </table>
  <p style="margin: 0pt;">&#xa0;</p>
  <p style="margin: 0pt;">&#xa0;</p>
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <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>
   </tbody>
  </table>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><i>&#xa0;</i></p>
  <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
   <div class="PGFTR" style="text-align: center; width: 100%">
    <div class="hf-row">
     <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       2
     </div>
    </div>
   </div>
   <hr />
   <div class="PGHDR" style="text-align: left; width: 100%">
    <div class="hf-row">
     <div class="hf-cell TOCLink" style="display: inline-block; text-align: left;">
      <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
     </div>
    </div>
   </div>
  </div>
  <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b><a id="netassets" href="#"></a>iShares Silver Trust</b></p>
  <div>
    &#xa0;
  </div>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>Statements of Changes in Net Assets (Unaudited)</b></p>
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <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 three months ended March 31, 2020</p> </td>
    </tr>
   </tbody>
  </table>
  <p style="margin: 0pt;">&#xa0;</p>
  <div>
   <table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">
    <tbody>
     <tr style="vertical-align: bottom;">
      <td colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</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%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Three Months Ended<br /> March 31, 2020</b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><b>Net Assets at December 31, 2019</b></p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><ix:nonFraction id="c60134526" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueNetAssetLiability" scale="0">6,540,758,565</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="width: 82%;"><b>Operations:</b></td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;"><b>&#xa0;</b></td>
      <td style="width: 15%;"><b>&#xa0;</b></td>
      <td style="width: 1%;"><b>&#xa0;</b></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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Net investment loss</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134528" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:OperatingIncomeLoss" sign="-" scale="0">7,676,949</ix:nonFraction></td>
      <td 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 colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Net realized loss</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134529" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">9,570,709</ix:nonFraction></td>
      <td 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 colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Net change in unrealized appreciation/depreciation</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134530" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:UnrealizedGainLossOnInvestments" sign="-" scale="0">1,423,211,664</ix:nonFraction></td>
      <td 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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">Net decrease in net assets resulting from operations</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134531" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:NetIncomeLoss" sign="-" scale="0">1,440,459,322</ix:nonFraction></td>
      <td 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="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="width: 82%;"><b>Capital Share Transactions:</b></td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;"><b>&#xa0;</b></td>
      <td style="width: 15%;"><b>&#xa0;</b></td>
      <td style="width: 1%;"><b>&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Contributions for Shares issued</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134533" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityStockIssuedDuringPeriodValueNewIssues" scale="0">889,817,438</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Distributions for Shares redeemed</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134534" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" scale="0">484,999,588</ix:nonFraction></td>
      <td 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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">Net increase in net assets from capital share transactions</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134535" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityIssuePeriodIncreaseOrDecrease" scale="0">404,817,850</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">Decrease in net assets</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134536" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:IncreaseDecreaseInNetAssets" sign="-" scale="0">1,035,641,472</ix:nonFraction></td>
      <td 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="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><b>Net Assets at March 31, 2020</b></p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134537" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueNetAssetLiability" scale="0">5,505,117,093</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="width: 82%;">Shares issued and redeemed</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Shares issued</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134539" contextRef="d_2020-01-01_2020-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" scale="0">66,150,000</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Shares redeemed</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134540" contextRef="d_2020-01-01_2020-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="slv:SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod" scale="0">30,550,000</ix:nonFraction></td>
      <td 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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">Net increase in Shares issued and outstanding</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134541" contextRef="d_2020-01-01_2020-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" scale="0">35,600,000</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&#xa0;</td>
     </tr>
    </tbody>
   </table>
  </div>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p>
  <p style="margin: 0pt;">&#xa0;</p>
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <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>
   </tbody>
  </table>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><i>&#xa0;</i></p>
  <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
   <div class="PGFTR" style="text-align: center; width: 100%">
    <div class="hf-row">
     <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       3
     </div>
    </div>
   </div>
   <hr />
   <div class="PGHDR" style="text-align: left; width: 100%">
    <div class="hf-row">
     <div class="hf-cell TOCLink">
      <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
     </div>
    </div>
   </div>
  </div>
  <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>iShares Silver Trust</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>Statements of Changes in Net Assets (Unaudited)</b></p>
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <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 three months ended March 31,&#xa0;2019</p> </td>
    </tr>
   </tbody>
  </table>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p>
  <div>
   <table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">
    <tbody>
     <tr style="vertical-align: bottom;">
      <td colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&#xa0;</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%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Three Months Ended<br /> March 31, 2019</b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><b>Net Assets at December 31, 2018</b></p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><ix:nonFraction id="c60134542" contextRef="i_2018-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueNetAssetLiability" scale="0">4,904,036,623</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="width: 82%;"><b>Operations:</b></td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;"><b>&#xa0;</b></td>
      <td style="width: 15%;"><b>&#xa0;</b></td>
      <td style="width: 1%;"><b>&#xa0;</b></td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Net investment loss</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134544" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:OperatingIncomeLoss" sign="-" scale="0">5,951,914</ix:nonFraction></td>
      <td 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 colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Net realized loss</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134545" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">43,054,318</ix:nonFraction></td>
      <td 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 colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Net change in unrealized appreciation/depreciation</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134546" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:UnrealizedGainLossOnInvestments" sign="-" scale="0">69,197,383</ix:nonFraction></td>
      <td 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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">Net decrease in net assets resulting from operations</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134547" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:NetIncomeLoss" sign="-" scale="0">118,203,615</ix:nonFraction></td>
      <td 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="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="width: 82%;"><b>Capital Share Transactions:</b></td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;"><b>&#xa0;</b></td>
      <td style="width: 15%;"><b>&#xa0;</b></td>
      <td style="width: 1%;"><b>&#xa0;</b></td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Contributions for Shares issued</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134549" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityStockIssuedDuringPeriodValueNewIssues" scale="0">185,279,712</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Distributions for Shares redeemed</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134550" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" scale="0">302,681,083</ix:nonFraction></td>
      <td 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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">Net decrease in net assets from capital share transactions</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134551" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityIssuePeriodIncreaseOrDecrease" sign="-" scale="0">117,401,371</ix:nonFraction></td>
      <td 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="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">Decrease in net assets</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134552" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:IncreaseDecreaseInNetAssets" sign="-" scale="0">235,604,986</ix:nonFraction></td>
      <td 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="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><b>Net Assets at March 31, 2019</b></p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134553" contextRef="i_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueNetAssetLiability" scale="0">4,668,431,637</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="width: 82%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="width: 82%;">Shares issued and redeemed</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
      <td style="width: 15%;">&#xa0;</td>
      <td style="width: 1%;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
      <td colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Shares issued</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 15%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134555" contextRef="d_2019-01-01_2019-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" scale="0">12,650,000</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
      <td colspan="1" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Shares redeemed</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134556" contextRef="d_2019-01-01_2019-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="slv:SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod" scale="0">20,700,000</ix:nonFraction></td>
      <td 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: 82%;"> <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">Net decrease in Shares issued and outstanding</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134557" contextRef="d_2019-01-01_2019-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" sign="-" scale="0">8,050,000</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
     </tr>
    </tbody>
   </table>
  </div>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p>
  <p style="margin: 0pt;">&#xa0;</p>
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <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>
   </tbody>
  </table>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><i>&#xa0;</i></p>
  <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
   <div class="PGFTR" style="text-align: center; width: 100%">
    <div class="hf-row">
     <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       4
     </div>
    </div>
   </div>
   <hr />
   <div class="PGHDR" style="text-align: left; width: 100%">
    <div class="hf-row">
     <div class="hf-cell TOCLink" style="display: inline-block; text-align: left;">
      <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
     </div>
    </div>
   </div>
  </div>
  <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b><a id="cf" href="#"></a>iShares Silver Trust</b></p>
  <div>
    &#xa0;
  </div>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>Statements of Cash Flows (Unaudited)</b></p>
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <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 three months ended March 31, 2020 and 2019</p> </td>
    </tr>
   </tbody>
  </table>
  <p style="margin: 0pt;">&#xa0;</p>
  <div>
   <table cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;">
    <tbody>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>Three Months Ended<br /> March 31, </b></b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>2020</b></b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b><b>2019</b></b></b></p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td style="width: 70%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>Cash Flows from Operating Activities</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Proceeds from silver bullion sold to pay expenses</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134559" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:ProceedsFromSaleOfTrustAssetsToPayExpenses" scale="0">7,971,299</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134560" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:ProceedsFromSaleOfTrustAssetsToPayExpenses" scale="0">5,916,114</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Expenses &#x2013; Sponsor&#x2019;s fees paid</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134561" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:PaymentsForFees" scale="0">7,971,299</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134562" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:PaymentsForFees" scale="0">5,916,114</ix:nonFraction></td>
      <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 cash provided by operating activities</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134563" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134564" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Increase (decrease) in cash</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134565" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134566" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Cash, beginning of period</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134567" contextRef="i_2019-12-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134568" contextRef="i_2018-12-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Cash, end of period</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134569" contextRef="i_2020-03-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134570" contextRef="i_2019-03-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-left: 9pt; text-indent: -9pt;"><b>Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations to Net Cash Provided by (Used in) Operating Activities</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><b>&#xa0;</b></td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 decrease in net assets resulting from operations</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134572" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:NetIncomeLoss" sign="-" scale="0">1,440,459,322</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134573" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:NetIncomeLoss" sign="-" scale="0">118,203,615</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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-bottom: 0pt; margin-top: 0pt; margin-left: 9pt; text-indent: -9pt;">Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:</p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Proceeds from silver bullion sold to pay expenses</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134575" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:ProceedsFromSaleOfTrustAssetsToPayExpenses" scale="0">7,971,299</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134576" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:ProceedsFromSaleOfTrustAssetsToPayExpenses" scale="0">5,916,114</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Net realized (gain) loss</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134577" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">9,570,709</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134578" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">43,054,318</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Net change in unrealized appreciation/depreciation</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134579" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:UnrealizedGainLossOnInvestments" sign="-" scale="0">1,423,211,664</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134580" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:UnrealizedGainLossOnInvestments" sign="-" scale="0">69,197,383</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-left: 18pt;">Change in operating assets and liabilities:</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Sponsor&#x2019;s fees payable</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);">(<ix:nonFraction id="c60134582" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties" sign="-" scale="0">294,350</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
      <td 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);"><ix:nonFraction id="c60134583" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties" scale="0">35,800</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 cash provided by (used in) operating activities</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134584" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134585" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:zerodash" decimals="INF" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" scale="0">&#x2014;</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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-bottom: 0pt; margin-top: 0pt;">Supplemental disclosure of non-cash information:</p> </td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Silver bullion contributed for Shares issued</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134587" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueOfAssetsAcquired" scale="0">889,817,438</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;"><ix:nonFraction id="c60134588" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueOfAssetsAcquired" scale="0">185,279,712</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     </tr>
     <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
      <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Silver bullion distributed for Shares redeemed</p> </td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">(<ix:nonFraction id="c60134589" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:OtherSignificantNoncashTransactionValueOfConsiderationGiven1" scale="0">484,999,588</ix:nonFraction></td>
      <td 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;">&#xa0;</td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">$</td>
      <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 10.8pt;">(<ix:nonFraction id="c60134590" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:OtherSignificantNoncashTransactionValueOfConsiderationGiven1" scale="0">302,681,083</ix:nonFraction></td>
      <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
     </tr>
    </tbody>
   </table>
  </div>
  <p style="margin: 0pt;">&#xa0;</p>
  <p style="margin: 0pt;">&#xa0;</p>
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
    <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>
   </tbody>
  </table>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><i>&#xa0;</i></p>
  <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
   <div class="PGFTR" style="text-align: center; width: 100%">
    <div class="hf-row">
     <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       5
     </div>
    </div>
   </div>
   <hr />
   <div class="PGHDR" style="text-align: left; width: 100%">
    <div class="hf-row">
     <div class="hf-cell TOCLink" style="display: inline-block; text-align: left;">
      <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
     </div>
    </div>
   </div>
  </div>
  <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&#xa0;</p>
  <div>
    &#xa0;
  </div>
  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:InvestmentHoldingsScheduleOfInvestmentsTextBlock" id="c1533464" escape="true">
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
     <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="schedules" href="#"></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 style="font: inherit;"> March 31, 2020 </em>and <em style="font: inherit;"> December 31, 2019</em></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="margin: 0pt;">&#xa0;</p>
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
     <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;"><b><span style="text-decoration: underline; "><em style="font: inherit;"> March 31, 2020</em></span></b></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="margin: 0pt;">&#xa0;</p>
   <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:InvestmentTableTextBlock" id="c3A29BEA9-3DBC-4E19-88B6-B29717C9FDEB" escape="true" continuedAt="c51EEEE93-094B-4735-AC9B-BCF1FB64B305">
    <table class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
     <tbody>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: 1px 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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Cost</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134592" contextRef="i_2020-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverBullionBalance" scale="0">395,368,466</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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;"><ix:nonFraction id="c60134593" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtCost" scale="0">6,681,432,888</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</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);"><ix:nonFraction id="c60134594" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtFairValue" scale="0">5,507,482,733</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#x2013;&#xa0;<span style="-sec-ix-hidden:c60134600">100.04%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134597" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtFairValue" scale="0">5,507,482,733</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#x2013;&#xa0;<span style="-sec-ix-hidden:c60134606">(0.04)%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);">(<ix:nonFraction id="c60134603" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:LiabilitiesFairValueDisclosure" scale="0">2,365,640</ix:nonFraction></td>
       <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#x2013;&#xa0;<span style="-sec-ix-hidden:c60134612">100.00%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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);"><ix:nonFraction id="c60134609" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueNetAssetLiability" scale="0">5,505,117,093</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
      </tr>
     </tbody>
    </table>
   </ix:nonNumeric>
   <p style="margin: 0pt;">&#xa0;</p>
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
     <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;"><b><span style="text-decoration: underline; "><em style="font: inherit;"> December 31, 2019</em></span></b></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="margin: 0pt;">&#xa0;</p>
   <ix:continuation id="c51EEEE93-094B-4735-AC9B-BCF1FB64B305">
    <table class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
     <tbody>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: 1px 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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Cost</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134613" contextRef="i_2019-12-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverBullionBalance" scale="0">362,616,711</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134614" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtCost" scale="0">6,294,157,046</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</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);"><ix:nonFraction id="c60134615" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtFairValue" scale="0">6,543,418,555</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#x2013;&#xa0;<span style="-sec-ix-hidden:c60134621">100.04%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134618" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtFairValue" scale="0">6,543,418,555</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#x2013;&#xa0;<span style="-sec-ix-hidden:c60134627">(0.04)%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);">(<ix:nonFraction id="c60134624" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:LiabilitiesFairValueDisclosure" scale="0">2,659,990</ix:nonFraction></td>
       <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#x2013;&#xa0;<span style="-sec-ix-hidden:c60134633">100.00%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#xa0;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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);"><ix:nonFraction id="c60134630" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:FairValueNetAssetLiability" scale="0">6,540,758,565</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
      </tr>
     </tbody>
    </table>
   </ix:continuation>
   <p style="margin: 0pt;">&#xa0;</p>
   <p style="margin: 0pt;">&#xa0;</p>
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
     <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: left;"><i>See notes to financial statements.</i></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><i>&#xa0;</i></p>
   <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
    <div class="PGFTR" style="text-align: center; width: 100%">
     <div class="hf-row">
      <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       <em style="font: inherit;"></em></div></div></div></div><ix:exclude><div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"><div class="PGFTR" style="text-align: center; width: 100%"><div class="hf-row"><div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"><em style="font: inherit;">6</em>
      </div>
     </div>
    </div>
    <hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000" />
    <div class="PGHDR" style="text-align: left; width: 100%">
     <div class="hf-row">
      <div class="hf-cell TOCLink" style="display: inline-block; text-align: left;">
       <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
      </div>
     </div>
    </div>
   </div>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b><a id="notes" href="#"></a>iShares</b> <b>Silver Trust</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>Notes to Financial Statements (Unaudited)</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b><em style="font: inherit;"> March 31, 2020</em></b></p></ix:exclude><p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b><em style="font: inherit;"></em></b></p>
  </ix:nonNumeric>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <div>
    &#xa0;
  </div>
  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock" id="c1533467" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">1</em> </b><b>- Organization</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The iShares Silver Trust (the &#x201c;Trust&#x201d;) was organized on <em style="font: inherit;"> April 21, 2006 </em>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 <em style="font: inherit;"> December 22, 2016. </em>The Trust issues units of beneficial interest (&#x201c;Shares&#x201d;) representing fractional undivided beneficial interests in its net assets.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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.</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
   <p style="font-family: Arial; 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 <em style="font: inherit;">10</em>-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 <em style="font: inherit;">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&#x2019;s financial statements included in its Annual Report on Form <em style="font: inherit;">10</em>-K for the year ended <em style="font: inherit;"> December 31, 2019, </em>as filed with the SEC on <em style="font: inherit;"> February 27, 2020.</em></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust qualifies as an investment company solely for accounting purposes and <em style="font: inherit;">not</em> for any other purpose and follows the accounting and reporting guidance under the Financial Accounting Standards Board Accounting Standards Codification Topic <em style="font: inherit;">946,</em> <i>Financial Services - Investment Companies</i>, but is <em style="font: inherit;">not</em> registered, and is <em style="font: inherit;">not</em> required to be registered, as an investment company under the Investment Company Act of <em style="font: inherit;">1940,</em> as amended.</p>
  </ix:nonNumeric>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <div>
    &#xa0;
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  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:SignificantAccountingPoliciesTextBlock" id="c1533468" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">2</em> - Significant Accounting Policies</b></p>
   <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
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      <td style="width: 18pt; 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></i></p></td></tr></tbody></table><ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:BasisOfAccountingPolicyPolicyTextBlock" id="c60135027" escape="true"><table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Basis of Accounting</i></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p></ix:nonNumeric><p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"></p>
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
     <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
      <td style="width: 18pt; 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></i></p></td></tr></tbody></table><ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:InvestmentPolicyTextBlock" id="c60135028" escape="true"><table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Silver Bullion</i></p> </td>
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    </tbody>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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 consisting of <em style="font: inherit;">one</em> or more <em style="font: inherit;">30&#x2011;second</em> rounds hosted by ICE Benchmark Administration (&#x201c;IBA&#x201d;) that begins at <em style="font: inherit;">12:00</em> p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such price, the &#x201c;LBMA Silver Price&#x201d;). If there is <em style="font: inherit;">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.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
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       <em style="font: inherit;"></em></div></div></div></div><ix:exclude><div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"><div class="PGFTR" style="text-align: center; width: 100%"><div class="hf-row"><div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"><em style="font: inherit;">7</em>
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       <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
      </div>
     </div>
    </div>
   </div>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p></ix:exclude><p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"></p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The following tables summarize activity in silver bullion for the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2020 </em>and <em style="font: inherit;">2019:</em></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="slv:ActivityInSilverBullionTableTextBlock" id="c67B483E6-E0DC-4BC7-A861-6E04F604C5FD" escape="true" continuedAt="c139DF3D9-A624-4D44-B2BB-FAAD2D03CA4B">
    <table class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;" cellspacing="0" cellpadding="0">
     <tbody>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px 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 March 31, 2020 </b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134668" contextRef="i_2019-12-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverBullionBalance" scale="0">362,616,711</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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;"><ix:nonFraction id="c60134669" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtCost" scale="0">6,294,157,046</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134670" contextRef="i_2019-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure" scale="0">6,543,418,555</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134672" contextRef="d_2020-01-01_2020-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverContributed" scale="0">61,719,272</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134673" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverContributedAverageCost" scale="0">889,817,438</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134674" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverContributedFairValue" scale="0">889,817,438</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134676" contextRef="d_2020-01-01_2020-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverDistributed" scale="0">28,512,880</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134677" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverDistributedAverageCost" scale="0">494,644,937</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134678" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverDistributedFairValue" scale="0">484,999,588</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134679" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares" sign="-" scale="0">9,645,349</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134680" contextRef="d_2020-01-01_2020-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverSold" scale="0">454,637</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134681" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverSoldAverageCost" scale="0">7,896,659</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134682" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverSoldFairValue" scale="0">7,971,299</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134683" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses" scale="0">74,640</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134686" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">9,570,709</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);">(<ix:nonFraction id="c60134690" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:UnrealizedGainLossOnInvestments" sign="-" scale="0">1,423,211,664</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</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);"><ix:nonFraction id="c60134692" contextRef="i_2020-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverBullionBalance" scale="0">395,368,466</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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);">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134693" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtCost" scale="0">6,681,432,888</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</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);"><ix:nonFraction id="c60134694" contextRef="i_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure" scale="0">5,507,482,733</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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);">(<ix:nonFraction id="c60134695" contextRef="d_2020-01-01_2020-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">9,570,709</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
      </tr>
     </tbody>
    </table>
   </ix:nonNumeric>
   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p>
   <ix:continuation id="c139DF3D9-A624-4D44-B2BB-FAAD2D03CA4B">
    <table class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;" cellspacing="0" cellpadding="0">
     <tbody>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px 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 March 31, 2019 </b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134696" contextRef="i_2018-12-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverBullionBalance" scale="0">317,233,610</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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;"><ix:nonFraction id="c60134697" contextRef="i_2018-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtCost" scale="0">5,641,558,156</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134698" contextRef="i_2018-12-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure" scale="0">4,906,017,787</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134700" contextRef="d_2019-01-01_2019-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverContributed" scale="0">11,866,072</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134701" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverContributedAverageCost" scale="0">185,279,712</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134702" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverContributedFairValue" scale="0">185,279,712</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134704" contextRef="d_2019-01-01_2019-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverDistributed" scale="0">19,420,968</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134705" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverDistributedAverageCost" scale="0">344,949,618</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134706" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverDistributedFairValue" scale="0">302,681,083</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134707" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares" sign="-" scale="0">42,268,535</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134708" contextRef="d_2019-01-01_2019-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverSold" scale="0">377,482</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134709" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverSoldAverageCost" scale="0">6,701,897</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134710" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverSoldFairValue" scale="0">5,916,114</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134711" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:GainLossOnSaleOfTrustAssetsToPayExpenses" sign="-" scale="0">785,783</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134714" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">43,054,318</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);">(<ix:nonFraction id="c60134718" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:UnrealizedGainLossOnInvestments" sign="-" scale="0">69,197,383</ix:nonFraction></td>
       <td 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</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);"><em style="font: inherit;">&#x2014;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</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);"><ix:nonFraction id="c60134720" contextRef="i_2019-03-31" unitRef="Ounce" format="ixt:numdotdecimal" decimals="INF" name="slv:SilverBullionBalance" scale="0">309,301,232</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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);">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134721" contextRef="i_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentOwnedAtCost" scale="0">5,475,186,353</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</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);"><ix:nonFraction id="c60134722" contextRef="i_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:InvestmentInPhysicalCommoditiesFairValueDisclosure" scale="0">4,670,448,601</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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);">(<ix:nonFraction id="c60134723" contextRef="d_2019-01-01_2019-03-31" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:RealizedInvestmentGainsLosses" sign="-" scale="0">43,054,318</ix:nonFraction></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
      </tr>
     </tbody>
    </table>
   </ix:continuation>
   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p></ix:nonNumeric><p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"></p>
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
     <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
      <td style="width: 18pt; 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></i></p></td></tr></tbody></table><ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="slv:CalculationOfNetAssetValuePolicyTextBlock" id="c60135030" escape="true"><table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Calculation of Net Asset Value</i></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">On each business day, as soon as practicable after <em style="font: inherit;">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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p></ix:nonNumeric><p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"></p>
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
     <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
      <td style="width: 18pt; 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></i></p></td></tr></tbody></table><ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="slv:OfferingOfTheSharesPolicyTextBlock" id="c60135031" escape="true"><table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Offering of the Shares</i></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Trust Shares are issued and redeemed continuously in aggregations of <ix:nonFraction id="c60134662" contextRef="i_2020-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="slv:SharesPrescribedAggregation" scale="0">50,000</ix:nonFraction> 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 <em style="font: inherit;"> may </em>redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of <ix:nonFraction id="c60134663" contextRef="i_2020-03-31" unitRef="Share" format="ixt:numdotdecimal" decimals="INF" name="slv:SharesPrescribedAggregation" scale="0">50,000</ix:nonFraction> Shares&#x37e; <i>provided</i>, that redemptions of Shares <em style="font: inherit;"> may </em>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 <em style="font: inherit;">not</em> reasonably practicable.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p></ix:nonNumeric><p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"></p>
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
     <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
      <td style="width: 18pt; 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></i></p></td></tr></tbody></table><ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:IncomeTaxPolicyTextBlock" id="c60135032" escape="true"><table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Federal Income Taxes</i></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust is treated as a grantor trust for federal income tax purposes and, therefore, <em style="font: inherit;">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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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 style="font: inherit;"> March 31, 2020 </em>and does <em style="font: inherit;">not</em> believe that there are any uncertain tax positions that require recognition of a tax liability.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
    <div class="PGFTR" style="text-align: center; width: 100%">
     <div class="hf-row">
      <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       </div></div></div></div></ix:nonNumeric><div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"><div class="PGFTR" style="text-align: center; width: 100%"><div class="hf-row"><div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"><em style="font: inherit;"></em></div></div></div><ix:exclude><div class="PGFTR" style="text-align: center; width: 100%"><div class="hf-row"><div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"><em style="font: inherit;">8</em>
      </div>
     </div>
    </div>
    <hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000" />
    <div class="PGHDR" style="text-align: left; width: 100%">
     <div class="hf-row">
      <div class="hf-cell TOCLink" style="display: inline-block; text-align: left;">
       <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a></div></div></div></ix:exclude><div class="PGHDR" style="text-align: left; width: 100%"><div class="hf-row"><div class="hf-cell TOCLink" style="display: inline-block; text-align: left;"><a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt"></a>
      </div>
     </div>
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   </div>
  </ix:nonNumeric>
  <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&#xa0;</p>
  <div>
    &#xa0;
  </div>
  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="slv:TrustExpensesTextBlock" id="c1533471" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">3</em> </b><b>- Trust Expenses</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust pays to the Sponsor a Sponsor&#x2019;s fee that accrues daily at an annualized rate equal to <ix:nonFraction id="c60134725" contextRef="d_2020-01-01_2020-03-31" unitRef="Pure" format="ixt:numdotdecimal" decimals="3" name="slv:SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue" scale="-2">0.50</ix:nonFraction>% 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&#x2019;s fee, the Custodian&#x2019;s fee, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and up to $<ix:nonFraction id="c60134726" contextRef="d_2020-01-01_2020-03-31_RangeAxis-MaximumMember" unitRef="USD" format="ixt:numdotdecimal" decimals="INF" name="slv:LegalFeesPerYear" scale="0">100,000</ix:nonFraction> per annum in legal fees and expenses.</p>
  </ix:nonNumeric>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <div>
    &#xa0;
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  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock" id="c1533472" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">4</em> - Related Parties</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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 <em style="font: inherit;">not</em> a separate expense of the Trust.</p>
  </ix:nonNumeric>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <div>
    &#xa0;
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  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="slv:IndemnificationTextBlock" id="c1533473" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b><em style="font: inherit;">5</em> - Indemnification</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust Agreement provides that the Trustee shall indemnify the Sponsor, its directors, employees and agents against, and hold each of them harmless from, any loss, liability, cost, expense or judgment (including reasonable fees and expenses of counsel) (i) caused by the negligence or bad faith of the Trustee or (ii) arising out of any information furnished in writing to the Sponsor by the Trustee expressly for use in the registration statement, or any amendment thereto or periodic or other report filed with the SEC relating to the Shares that is <em style="font: inherit;">not</em> materially altered by the Sponsor.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust Agreement provides that the Sponsor and its shareholders, directors, officers, employees, affiliates (as such term is defined under the Securities Act of <em style="font: inherit;">1933,</em> as amended) and subsidiaries shall be indemnified from the Trust and held harmless against any loss, liability or expense incurred without their (<em style="font: inherit;">1</em>) negligence, bad faith, willful misconduct or willful malfeasance arising out of or in connection with the performance of their obligations under the Trust Agreement or any actions taken in accordance with the provisions of the Trust Agreement or (<em style="font: inherit;">2</em>) reckless disregard of their obligations and duties under the Trust Agreement.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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&#x2019;s negligence, fraud or willful default in the performance of its duties.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
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    &#xa0;
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  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock" id="c1533474" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">6</em> - Commitments and Contingent Liabilities</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">In the normal course of business, the Trust <em style="font: inherit;"> may </em>enter into contracts with service providers that contain general indemnification clauses. The Trust&#x2019;s maximum exposure under these arrangements is unknown as this would involve future claims that <em style="font: inherit;"> may </em>be made against the Trust that have <em style="font: inherit;">not</em> yet occurred.</p>
  </ix:nonNumeric>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <div>
    &#xa0;
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  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:ConcentrationRiskDisclosureTextBlock" id="c1533475" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">7</em> - Concentration Risk</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Substantially all of the Trust&#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 <em style="font: inherit;"> may </em>have the effect of causing a decline in the price of silver include a change in economic conditions (such as a recession); a significant increase in the hedging activities of silver producers; significant changes in the attitude of speculators, investors and other market participants towards silver; global silver supply and demand; global or regional political, economic or financial events and situations; investors&#x2019;&#xa0;expectations with respect to the rate of inflation; interest rates; investment and trading activities of hedge funds and commodity funds; other economic variables such as income growth, economic output, and monetary policies; and investor confidence.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
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    &#xa0;
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  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="slv:FinancialHighlightsTextBlock" id="c1533476" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">8</em> </b><b>- Financial Highlights</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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 style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2020 </em>and <em style="font: inherit;">2019.</em></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="slv:FinancialHighlightsTableTextBlock" id="c1533477" escape="true">
    <table class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
     <tbody>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
       <td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 17%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Three Months Ended</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</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: 17%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>March 31,</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</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%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2020</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</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%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>2019</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><ix:nonFraction id="c60134743" contextRef="i_2019-12-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityRedemptionPricePerShare" scale="0">16.85</ix:nonFraction></td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><ix:nonFraction id="c60134744" contextRef="i_2018-12-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityRedemptionPricePerShare" scale="0">14.52</ix:nonFraction></td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134745" contextRef="d_2020-01-01_2020-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="slv:NetInvestmentIncomeLossPerShare" sign="-" scale="0">0.02</ix:nonFraction></td>
       <td style="width: 2%; 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134746" contextRef="d_2019-01-01_2019-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="slv:NetInvestmentIncomeLossPerShare" sign="-" scale="0">0.02</ix:nonFraction></td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net realized and unrealized loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
       <td 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);">(<ix:nonFraction id="c60134747" contextRef="d_2020-01-01_2020-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="slv:NetRealizedAndUnrealizedGainLossPerShare" sign="-" scale="0">3.84</ix:nonFraction></td>
       <td style="width: 2%; 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
       <td 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);">(<ix:nonFraction id="c60134748" contextRef="d_2019-01-01_2019-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="slv:NetRealizedAndUnrealizedGainLossPerShare" sign="-" scale="0">0.34</ix:nonFraction></td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net decrease in net assets from operations</p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
       <td 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);">(<ix:nonFraction id="c60134749" contextRef="d_2020-01-01_2020-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare" sign="-" scale="0">3.86</ix:nonFraction></td>
       <td style="width: 2%; 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;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
       <td 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);">(<ix:nonFraction id="c60134750" contextRef="d_2019-01-01_2019-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="slv:NetIncreaseDecreaseInNetAssetsFromOperationsPerShare" sign="-" scale="0">0.36</ix:nonFraction></td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134751" contextRef="i_2020-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityRedemptionPricePerShare" scale="0">12.99</ix:nonFraction></td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><ix:nonFraction id="c60134752" contextRef="i_2019-03-31" unitRef="USDPerShare" format="ixt:numdotdecimal" decimals="INF" name="us-gaap:TemporaryEquityRedemptionPricePerShare" scale="0">14.16</ix:nonFraction></td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total return, at net asset value<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)(d)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134753" contextRef="d_2020-01-01_2020-03-31" unitRef="Pure" format="ixt:numdotdecimal" decimals="4" name="slv:TotalReturn" sign="-" scale="-2">22.91</ix:nonFraction></td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134754" contextRef="d_2019-01-01_2019-03-31" unitRef="Pure" format="ixt:numdotdecimal" decimals="4" name="slv:TotalReturn" sign="-" scale="-2">2.48</ix:nonFraction></td>
       <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Ratio to average net assets:</p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#xa0;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#xa0;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&#xa0;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134756" contextRef="d_2020-01-01_2020-03-31" unitRef="Pure" format="ixt:numdotdecimal" decimals="3" name="slv:NetInvestmentGainLossToAverageNetAssetsRatio" sign="-" scale="-2">0.50</ix:nonFraction></td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(<ix:nonFraction id="c60134757" contextRef="d_2019-01-01_2019-03-31" unitRef="Pure" format="ixt:numdotdecimal" decimals="3" name="slv:NetInvestmentGainLossToAverageNetAssetsRatio" sign="-" scale="-2">0.50</ix:nonFraction></td>
       <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Expenses<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134758" contextRef="d_2020-01-01_2020-03-31" unitRef="Pure" format="ixt:numdotdecimal" decimals="3" name="slv:ExpensesToAverageNetAssetsRatio" scale="-2">0.50</ix:nonFraction></td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><ix:nonFraction id="c60134759" contextRef="d_2019-01-01_2019-03-31" unitRef="Pure" format="ixt:numdotdecimal" decimals="3" name="slv:ExpensesToAverageNetAssetsRatio" scale="-2">0.50</ix:nonFraction></td>
       <td 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>
     </tbody>
    </table>
   </ix:nonNumeric>
   <p style="margin: 0pt;">&#xa0;</p>
   <hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0" />
   <table style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin-left: 0pt; margin-right: 0pt;" cellspacing="0" cellpadding="0">
    <tbody>
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      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
      <td style="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="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</span></p> </td>
      <td style="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 style="font: inherit;"> may </em><em style="font: inherit;">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&#x2019;s underlying investment.</p> </td>
     </tr>
     <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)</span></p> </td>
      <td style="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="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(d)</span></p> </td>
      <td style="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 style="font: inherit;">not</em> annualized.</p> </td>
     </tr>
     <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</span></p> </td>
      <td style="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>
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   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p>
   <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
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       <em style="font: inherit;"></em></div></div></div><ix:exclude><div class="PGFTR" style="text-align: center; width: 100%"><div class="hf-row"><div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"><em style="font: inherit;">9</em>
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    <hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000" />
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
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    &#xa0;
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  <ix:nonNumeric contextRef="d_2020-01-01_2020-03-31" name="us-gaap:FairValueDisclosuresTextBlock" id="c1533478" escape="true">
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">9</em> - Investment Valuation</b></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; 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.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Various inputs are used in determining the fair value of assets and liabilities. Inputs <em style="font: inherit;"> may </em>be based on independent market data (&#x201c;observable inputs&#x201d;) or they <em style="font: inherit;"> may </em>be internally developed (&#x201c;unobservable inputs&#x201d;). These inputs are categorized into a disclosure hierarchy consisting of <em style="font: inherit;">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 style="font: inherit;">three</em> levels of the fair value hierarchy are as follows:</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 63pt; text-align: left; text-indent: -36pt;">Level <em style="font: inherit;">1</em> &#x2013;&#xa0; Unadjusted quoted prices in active markets for identical assets or liabilities;</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 72pt; text-align: left; text-indent: -45pt;">Level <em style="font: inherit;">2</em> &#x2013;&#xa0; Inputs other than quoted prices included within Level <em style="font: inherit;">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 style="font: inherit;">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>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 72pt; text-align: left; text-indent: -45pt;">Level <em style="font: inherit;">3</em> &#x2013;&#xa0; Unobservable inputs that are unobservable for the asset or liability, including the Trust&#x2019;s assumptions used in determining the fair value of investments.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">At <em style="font: inherit;"> March 31, 2020 </em>and <em style="font: inherit;"> December 31, 2019, </em>the value of the silver bullion held by the Trust is categorized as Level <em style="font: inherit;">1.</em></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
   <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
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       <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a></div></div></div></ix:exclude><div class="PGHDR" style="text-align: left; width: 100%"><div class="hf-row"><div class="hf-cell TOCLink" style="display: inline-block; text-align: left;"><a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt"></a>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="item2" href="#"></a>Item 2. Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; 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 in Item 1 of Part I of this Form&#xa0;10&#x2011;Q. The discussion and analysis that follows may contain statements that relate to future events or future performance. In some cases, such forward&#x2011;looking statements can be identified by terminology such as &#x201c;may,&#x201d; &#x201c;should,&#x201d; &#x201c;could,&#x201d; &#x201c;expect,&#x201d; &#x201c;plan,&#x201d; &#x201c;anticipate,&#x201d; &#x201c;believe,&#x201d; &#x201c;estimate,&#x201d; &#x201c;predict,&#x201d; &#x201c;potential&#x201d; or the negative of these terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses made by the Sponsor on the basis of its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor&#x2019;s expectations and predictions, however, is subject to a number of risks and uncertainties, including the special considerations discussed below, general economic, market and business conditions, changes in laws or regulations, including those concerning taxes, made by governmental authorities or regulatory bodies, and other world economic and political developments. Although the Sponsor does not make forward-looking statements unless it believes it has a reasonable basis for doing so, the Sponsor cannot guarantee their accuracy. 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&#x2019;s expectations or predictions.</i></p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>Introduction</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The iShares Silver Trust (the &#x201c;Trust&#x201d;) 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 &#x201c;Trustee&#x201d;) acting as trustee pursuant to the Second Amended and Restated Depositary Trust Agreement (the &#x201c;Trust Agreement&#x201d;) between the Trustee and iShares Delaware Trust Sponsor LLC, the sponsor of the Trust (the &#x201c;Sponsor&#x201d;). The Trust issues units of beneficial interest (&#x201c;Shares&#x201d;) 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; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; 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&#x2019;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; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; 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 &#x201c;Basket&#x201d;) 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 &#x201c;Authorized Participants&#x201d;). A list of the current Authorized Participants is available from the Sponsor or the Trustee.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Shares of the Trust trade on NYSE Arca, Inc. under the ticker symbol SLV.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>Valuation of </b><b>Silver Bullion; Computation of Net Asset Value</b></p>
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  <p style="font-family: Arial; 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 of the Trust and net asset value per Share (&#x201c;NAV&#x201d;). 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 (&#x201c;IBA&#x201d;) that begins at 12:00 p.m. (London time) and published shortly thereafter, on the day the valuation takes place (such price, the &#x201c;LBMA Silver Price&#x201d;). 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 then subtracts all accrued fees, expenses and other liabilities of the Trust from the total value of the silver held by the Trust and other assets of 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.</p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>Liquidity</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; 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&#x2019;s fee. The Trust&#x2019;s only source of liquidity is its sales of silver.</p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>Critical Accounting Policies</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; 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&#x2019;s financial position and results of operations. These estimates and assumptions affect the Trust&#x2019;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 &#x201c;Valuation of Silver Bullion&#x37e; Computation of Net Asset Value&#x201d; above. In addition, please refer to Note 2 to the financial statements included in this report for further discussion of the Trust&#x2019;s accounting policies.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>Results of Operations</b></p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><i>The Quarter Ended </i><i>March 31, 2020</i></p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust&#x2019;s net asset value fell from $6,540,758,565 at December 31, 2019 to $5,505,117,093 at March 31, 2020, a 15.83% decrease. The decrease in the Trust&#x2019;s net asset value resulted primarily from a decrease in the LBMA&#xa0;Silver&#xa0;Price, which fell 22.83% from $18.05 at December 31, 2019 to $13.93 at March 31, 2020. The decrease in the Trust&#x2019;s net asset value was partially offset by an increase in outstanding Shares, which rose from 388,100,000 Shares at December 31, 2019 to 423,700,000 Shares at March 31, 2020, a consequence of 66,150,000 Shares (1,323 Baskets) being created and 30,550,000 Shares (611 Baskets) being redeemed during the quarter.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The 22.91% decline in the Trust&#x2019;s NAV from $16.85 at December 31, 2019 to $12.99 at March 31, 2020 is directly related to the 22.83% decrease in the price of silver.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust&#x2019;s NAV decreased slightly more than the price of silver on a percentage basis due to the Sponsor&#x2019;s fees, which were $7,676,949 for the quarter, or 0.12% of the Trust&#x2019;s average weighted assets of $6,164,088,647 during the quarter. The NAV of $17.52 on February 24, 2020 was the highest during the quarter, compared with a low during the quarter of $11.20 on March 19, 2020.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Net decrease in net assets resulting from operations for the quarter ended March 31, 2020 was $1,440,459,322, resulting from an unrealized loss on investment in silver bullion of $1,423,211,664, a net realized loss of $9,645,349 on silver bullion distributed for the redemption of Shares and a net investment loss of $7,676,949, partially offset by a net realized gain of $74,640 from silver bullion sold to pay expenses. Other than the Sponsor&#x2019;s fees of $7,676,949, the Trust had no expenses during the quarter.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="item3" href="#"></a>Item 3. Quantitative and Qualitative Disclosures About Market Risk</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Not applicable.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="item4" href="#"></a>Item 4. Controls and Procedures</b></p>
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  <p style="font-family: Arial; 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&#x2019;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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; 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>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">There were no changes in the Trust&#x2019;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&#x2019;s internal control over financial reporting.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b><a id="part2" href="#"></a>PART II &#x2013;</b><b> OTHER INFORMATION</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="legal" href="#"></a>Item 1. Legal Proceedings</b></p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">None.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="risk" href="#"></a>Item 1A. Risk Factors</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Except as set forth below, there have been no material changes to the Risk Factors last reported under Part I, Item 1A of the registrant&#x2019;s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on February 27, 2020.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b>The Trust may be negatively impacted by the effects of the spread of illnesses or other public health emergencies on the global economy and the markets and service providers relevant to the performance of the Trust.</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">An outbreak of infectious respiratory illness caused by a novel coronavirus known as COVID-19 was first detected in China in December 2019 and has now been spread globally. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, and lower consumer demand, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. The impact of this outbreak has adversely affected the economies of many nations and the entire global economy and may impact individual issuers and capital markets in ways that cannot necessarily be foreseen. Other infectious illness outbreaks that may arise in the future could have similar impacts. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The COVID-19 outbreak will have serious negative effects on social, economic and financial systems, including significant uncertainty and volatility in the financial markets. For instance, the suspension of operations of mines, refineries and vaults that extract, produce or store silver, restrictions on travel that delay or prevent the transportation of silver, and an increase in demand for silver may disrupt supply chains for silver, which could cause secondary market spreads to widen and compromise our ability to make settlements on time. Any inability of the Trust to issue or redeem Shares or the Custodian or any sub-custodian to receive or deliver silver as a result of the outbreak will negatively affect the Trust&#x2019;s operations.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The duration of the outbreak and its effects cannot be determined with certainty. A prolonged outbreak could result in an increase of the costs of the Trust, affect liquidity in the market for silver as well as the correlation between the price of the Shares and the net asset value of the Trust, any of which could adversely affect the value of your Shares. In addition, the outbreak could also impair the information technology and other operational systems upon which the Trust&#x2019;s service providers, including the Sponsor, the Trustee and the Custodian, rely, and could otherwise disrupt the ability of employees of the Trust&#x2019;s service providers to perform essential tasks on behalf of the Trust. Governmental and quasigovernmental authorities and regulators throughout the world have in the past responded to major economic disruptions with a variety of fiscal and monetary policy changes, including, but not limited to, direct capital infusions into companies, new monetary programs and lower interest rates. An unexpected or quick reversal of these policies, or the ineffectiveness of these policies, is likely to increase volatility in the market for silver, which could adversely affect the price of the Shares.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Further, the outbreak could interfere with or prevent the operation of the electronic auction hosted by IBA to determine the LBMA Silver Price, which the Trustee uses to value the silver held by the Trust and calculate the net asset value of the Trust. The outbreak could also cause the closure of futures exchanges, which could eliminate the ability of Authorized Participants to hedge purchases of Baskets, increasing trading costs of Shares and resulting in a sustained premium or discount in the Shares. Each of these outcomes would negatively impact the Trust.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="salesequity" href="#"></a>Item 2. Unregistered Sales of Equity Securities and Use of Proceeds</b></p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">a) None.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">b) Not applicable.</p>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">c) 30,550,000 Shares (611 Baskets) were redeemed during the quarter ended March 31, 2020.</p>
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     <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 46%; border-bottom: 1px 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>
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     <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);"> <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>
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     <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</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);"> <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>
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     <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;">01/01/20 to 01/31/20</p> </td>
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     <td style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">10,150,000</td>
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     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
     <td style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.9338</td>
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    </tr>
    <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">02/01/20 to 02/29/20</p> </td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">8,800,000</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.9332</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
    </tr>
    <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">03/01/20 to 03/31/20</p> </td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td>
     <td 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);">11,600,000</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.9330</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
    </tr>
    <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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;">Total</p> </td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</td>
     <td 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);">30,550,000</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
     <td style="width: 24%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.9333</td>
     <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#xa0;</td>
    </tr>
   </tbody>
  </table>
  <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="defaults" href="#"></a>Item 3. Defaults Upon Senior Securities</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">None.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="mine" href="#"></a>Item 4. Mine Safety Disclosures</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Not applicable.</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="otherinfo" href="#"></a>Item 5. Other Information</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">None.</p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
   <div class="PGFTR" style="text-align: center; width: 100%">
    <div class="hf-row">
     <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       13
     </div>
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     <div class="hf-cell TOCLink" style="display: inline-block; text-align: left;">
      <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
     </div>
    </div>
   </div>
  </div>
  <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><a id="exhibits" href="#"></a>Item 6. Exhibits</b></p>
  <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
   <tbody>
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     <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;">&#xa0;</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;">&#xa0;</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>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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    <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;">&#xa0;</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>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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    <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;">&#xa0;</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>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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    <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;">&#xa0;</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>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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_180551.htm" style="-sec-extract:exhibit;">Certification by Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</a></p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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_180552.htm" style="-sec-extract:exhibit;">Certification by Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</a></p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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_180553.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&#x2011;Oxley Act of 2002</a></p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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_180554.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&#x2011;Oxley Act of 2002</a></p> </td>
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    <tr>
     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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;">Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.</p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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;">Inline XBRL Taxonomy Extension Schema Document</p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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;">Inline XBRL Taxonomy Extension Calculation Linkbase Document</p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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;">Inline XBRL Taxonomy Extension Definition Linkbase Document</p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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;">Inline XBRL Taxonomy Extension Label Linkbase Document</p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">&#xa0;</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;">Inline XBRL Taxonomy Extension Presentation Linkbase Document</p> </td>
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     <td style="vertical-align: top; width: 10%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
     <td style="vertical-align: top; width: 89%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</td>
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     <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;">104</p> </td>
     <td style="vertical-align: top; width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#xa0;</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;">Cover Page Interactive Data File included as Exhibit 101 (embedded within the Inline XBRL document)</p> </td>
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      <a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Table of Contents</a>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b><a id="sigs" href="#"></a>SIGNATURES</b></p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center;"><b>&#xa0;</b></p>
  <p style="font-family: Arial; 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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">iShares Delaware Trust Sponsor LLC,</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Sponsor of the iShares Silver Trust (registrant)</p>
  <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#xa0;</p>
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     <td style="width: 100%; border-bottom: 1px 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>
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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>Director, President and Chief Executive Officer</b></td>
    </tr>
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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; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</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;">May 6, 2020</td>
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  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
  <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&#xa0;</p>
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     <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">/s/ Mary Cronin</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>Mary Cronin</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;"><b>(Principal financial and accounting officer)</b></td>
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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;">May 6, 2020</td>
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     <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"><span style="font-family:Arial;font-size:10pt;">*</span></p> </td>
     <td style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <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>
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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>ex_180551.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<html><head>
	<title>ex_180551.htm</title>

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

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

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

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

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

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			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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>
		</tr>

</table>

<p style="font-family: Arial; 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; font-size: 10pt;">

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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>
		</tr>

</table>

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

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

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">The registrant&#8217;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&#8209;15(f)) for the registrant and have:</p>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">

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			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Evaluated the effectiveness of the registrant&#8217;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>

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			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</p>
			</td>
		</tr>

</table>

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

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

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">The registrant&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</p>
			</td>
		</tr>

</table>

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

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			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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&#8217;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; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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&#8217;s internal control over financial reporting.</p>
			</td>
		</tr>

</table>

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

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		<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;">May 6, 2020</td>
		</tr>

</table>

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

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

		<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; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>ex_180552.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 31.2</b></p>

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

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

<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">I, Mary Cronin, certify that:</p>

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			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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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</table>

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

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			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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>
		</tr>

</table>

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

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

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">The registrant&#8217;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&#8209;15(f)) for the registrant and have:</p>
			</td>
		</tr>

</table>

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

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		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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>

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			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Evaluated the effectiveness of the registrant&#8217;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>

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			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</p>
			</td>
		</tr>

</table>

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

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

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 18pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">The registrant&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</p>
			</td>
		</tr>

</table>

<p style="font-family: Arial; 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; font-size: 10pt;">

		<tr style="font-family: Arial; font-size: 10pt;">
			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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&#8217;s ability to record, process, summarize, and report financial information; and</p>
			</td>
		</tr>

</table>

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			<td style="width: 54pt; font-family: Arial; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top; font-family: Arial; font-size: 10pt;">
			<p style="font-family: Arial; 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; font-size: 10pt;">
			<p style="font-family: Arial; 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&#8217;s internal control over financial reporting.</p>
			</td>
		</tr>

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<p style="font-family: Arial; 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;">May 6, 2020</td>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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		<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/ Mary Cronin</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>Mary Cronin</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>
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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>(Principal financial officer)</b></td>
		</tr>

</table>

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

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

<div class="LAST-PAGE-BREAK">
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<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>ex_180553.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
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	<title>ex_180553.htm</title>

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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 32.1</b></p>

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

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

<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">In connection with the Quarterly Report of iShares<sup style="vertical-align:top;line-height:120%;font-size:pt"> </sup>Silver Trust (the &#8220;Trust&#8221;) on Form 10-Q for the period ended March 31, 2020 as filed with the Securities and Exchange Commission on the date hereof (the &#8220;Report&#8221;), I, Paul Lohrey, Chief Executive Officer of iShares<sup style="vertical-align:top;line-height:120%;font-size:pt"> </sup>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>

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			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial; font-size: 10pt;">1.</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial; 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>
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</table>

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

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			<p style="margin: 0pt; text-align: left; font-family: Arial; font-size: 10pt;">2.</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial; 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; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: Arial; 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; 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;">May 6, 2020</td>
		</tr>

</table>

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

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

		<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; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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		<tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"><font style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;">*</font></p>
			</td>
			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<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<sup style="vertical-align:top;line-height:120%;font-size:pt"> </sup>Delaware Trust Sponsor LLC, the Sponsor of the registrant.</p>
			</td>
		</tr>

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

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<div class="hf-cell PGNUM">&nbsp;</div>
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<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>5
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<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<html><head>
	<title>ex_180554.htm</title>

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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><b>Exhibit 32.2</b></p>

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

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

<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">In connection with the Quarterly Report of iShares Silver Trust (the &#8220;Trust&#8221;) on Form 10-Q for the period ended March 31, 2020 as filed with the Securities and Exchange Commission on the date hereof (the &#8220;Report&#8221;), I, Mary Cronin, 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; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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		<tr style="vertical-align: top;">
			<td style="width: 27pt;">&nbsp;</td>
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial; font-size: 10pt;">1.</p>
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			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial; 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>
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<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

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

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			<td style="width: 27pt;">&nbsp;</td>
			<td style="width: 18pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial; font-size: 10pt;">2.</p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: Arial; 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>

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

<p style="font-family: Arial; 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; 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;">May 6, 2020</td>
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</table>

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

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		<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/ Mary Cronin</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>Mary Cronin*</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>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;"><b>(Principal financial officer)</b></td>
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<p style="font-family: Arial; 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">
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			<td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"><font style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;">*</font></p>
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			<td style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
			<p style="margin: 0pt; text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">The registrant is a trust and Ms. Cronin is signing in her capacity as an officer of iShares Delaware Trust Sponsor LLC, the Sponsor of the registrant.</p>
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</table>

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

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<div class="hf-cell PGNUM">&nbsp;</div>
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    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TemporaryEquityRedemptionPricePerShare" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="slv_NetInvestmentIncomeLossPerShare" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="slv_NetRealizedAndUnrealizedGainLossPerShare" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="slv_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare" xlink:type="arc"/>
    <link:definitionArc order="5" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="slv_TotalReturn" xlink:type="arc"/>
    <link:definitionArc order="6" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="slv_RatioToAverageNetAssetsAbstract" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="slv_RatioToAverageNetAssetsAbstract" xlink:to="slv_NetInvestmentGainLossToAverageNetAssetsRatio" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="slv_RatioToAverageNetAssetsAbstract" xlink:to="slv_ExpensesToAverageNetAssetsRatio" xlink:type="arc"/>
  </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>9
<FILENAME>slv-20200331_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome XBRL - 06:40PM UTC 2020-05-05--><link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="slv-20200331.xsd#slv_DocumentAndEntityInformation" xlink:label="slv_DocumentAndEntityInformation" xlink:type="locator"/>
    <link:label xlink:label="slv_DocumentAndEntityInformation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document And Entity Information</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_DocumentAndEntityInformation" xlink:to="slv_DocumentAndEntityInformation-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.xsd#slv_NoteToFinancialStatementDetailsTextual" xlink:label="slv_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:label xlink:label="slv_NoteToFinancialStatementDetailsTextual-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note To Financial Statement Details Textual</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NoteToFinancialStatementDetailsTextual" xlink:to="slv_NoteToFinancialStatementDetailsTextual-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.xsd#slv_statement-statement-significant-accounting-policies-policies" xlink:label="slv_statement-statement-significant-accounting-policies-policies" xlink:type="locator"/>
    <link:label xlink:label="slv_statement-statement-significant-accounting-policies-policies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_statement-statement-significant-accounting-policies-policies" xlink:to="slv_statement-statement-significant-accounting-policies-policies-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.xsd#slv_SponsorsFees" xlink:label="slv_SponsorsFees" xlink:type="locator"/>
    <link:label xlink:label="slv_SponsorsFees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sponsor's fees</link:label>
    <link:label xlink:label="slv_SponsorsFees-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fees paid to the sponsor of the trust.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_SponsorsFees" xlink:to="slv_SponsorsFees-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.xsd#slv_statement-statement-schedules-of-investments-unaudited-tables" xlink:label="slv_statement-statement-schedules-of-investments-unaudited-tables" xlink:type="locator"/>
    <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-20200331.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-20200331.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/2020/elts/us-gaap-2020-01-31.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-20200331.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-20200331.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-20200331.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-20200331.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-20200331.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/2020/elts/us-gaap-2020-01-31.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-20200331.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/2020/elts/us-gaap-2020-01-31.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-20200331.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="slv-20200331.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-20200331.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 (in shares)</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/2020/elts/us-gaap-2020-01-31.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 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/2020/elts/us-gaap-2020-01-31.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-20200331.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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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="slv-20200331.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/2020/elts/us-gaap-2020-01-31.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-20200331.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-20200331.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-20200331.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/2020/elts/us-gaap-2020-01-31.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-20200331.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/2020/elts/us-gaap-2020-01-31.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</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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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: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/2019/dei-2019-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentQuarterlyReport-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityIncorporationStateCountryCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentTransitionReport-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" xlink:type="locator"/>
    <link:label xlink:label="dei_CityAreaCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityInteractiveDataCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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-20200331.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/2020/elts/us-gaap-2020-01-31.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" xlink:type="locator"/>
    <link:label xlink:label="dei_SecurityExchangeName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:type="locator"/>
    <link:label xlink:label="dei_Security12bTitle-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.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/2019/dei-2019-01-31.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/2020/elts/us-gaap-2020-01-31.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/2020/elts/srt-2020-01-31.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">Statistical Measurement [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/2020/elts/srt-2020-01-31.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/2019/dei-2019-01-31.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-20200331.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/2019/dei-2019-01-31.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/2019/dei-2019-01-31.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-20200331.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/2020/elts/srt-2020-01-31.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">Statistical Measurement [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-20200331.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityFileNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.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-20200331.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/2020/elts/us-gaap-2020-01-31.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/2019/dei-2019-01-31.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-20200331.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/2019/dei-2019-01-31.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-20200331.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/2020/elts/us-gaap-2020-01-31.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/2019/dei-2019-01-31.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityShellCompany-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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/2019/dei-2019-01-31.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/2019/dei-2019-01-31.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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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/2019/dei-2019-01-31.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/2019/dei-2019-01-31.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/2020/elts/us-gaap-2020-01-31.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/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityTaxIdentificationNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.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-20200331.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/2019/dei-2019-01-31.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/2020/elts/us-gaap-2020-01-31.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/2019/dei-2019-01-31.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/2019/dei-2019-01-31.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/2020/elts/us-gaap-2020-01-31.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityAddressAddressLine1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityAddressCityOrTown-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.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 (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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityAddressPostalZipCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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 decrease in net assets per Share (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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityAddressStateOrProvince-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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-20200331.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 loss (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-20200331.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">Net 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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentTableTextBlock" xlink:label="us-gaap_InvestmentTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_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="us-gaap_InvestmentTableTextBlock" xlink:to="us-gaap_InvestmentTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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/2019/dei-2019-01-31.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</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/2020/elts/us-gaap-2020-01-31.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-20200331.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/2020/elts/us-gaap-2020-01-31.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-20200331.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</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-20200331.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</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-20200331.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</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-20200331.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/2019/dei-2019-01-31.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-20200331.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/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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-20200331.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-20200331.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-20200331.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/2020/elts/us-gaap-2020-01-31.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="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" xlink:type="locator"/>
    <link:label xlink:label="dei_LocalPhoneNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.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/2020/elts/us-gaap-2020-01-31.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 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 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/2020/elts/us-gaap-2020-01-31.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 (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/2020/elts/us-gaap-2020-01-31.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-20200331.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/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TemporaryEquityParOrStatedValuePerShare" xlink:label="us-gaap_TemporaryEquityParOrStatedValuePerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TemporaryEquityParOrStatedValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares, par value (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquityParOrStatedValuePerShare" xlink:to="us-gaap_TemporaryEquityParOrStatedValuePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" xlink:type="locator"/>
    <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>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommitmentsAndContingencies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and contingent liabilities (Note 6)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.xsd#slv_OfferingOfTheSharesPolicyTextBlock" xlink:label="slv_OfferingOfTheSharesPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="slv_OfferingOfTheSharesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Offering of the Shares [Policy Text Block]</link:label>
    <link:label xlink:label="slv_OfferingOfTheSharesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy for creation and redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_OfferingOfTheSharesPolicyTextBlock" xlink:to="slv_OfferingOfTheSharesPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.xsd#slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:label="slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:type="locator"/>
    <link:label xlink:label="slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod</link:label>
    <link:label xlink:label="slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Shares redeemed (in shares)</link:label>
    <link:label xlink:label="slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number 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_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:to="slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" xlink:type="locator"/>
    <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>
    <link:label xlink:label="us-gaap_OperatingIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net investment loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NetCashProvidedByUsedInOperatingActivities</link:label>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">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_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</link:label>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease-label" xlink:type="arc"/>
    <link:loc xlink:href="slv-20200331.xsd#slv_NetAssetsPercentageOfNetAssets" xlink:label="slv_NetAssetsPercentageOfNetAssets" xlink:type="locator"/>
    <link:label xlink:label="slv_NetAssetsPercentageOfNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net assets, percentage of net asset value</link:label>
    <link:label xlink:label="slv_NetAssetsPercentageOfNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of net assets of net assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slv_NetAssetsPercentageOfNetAssets" xlink:to="slv_NetAssetsPercentageOfNetAssets-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>10
<FILENAME>slv-20200331_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796901760">
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(0.02</td>
       <td style="width: 2%; 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(0.02</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net realized and unrealized loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
       <td 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);">(3.84</td>
       <td style="width: 2%; 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
       <td 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);">(0.34</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Net decrease in net assets from operations</p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
       <td 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);">(3.86</td>
       <td style="width: 2%; 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
       <td 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);">(0.36</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">$</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">12.99</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">14.16</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total return, at net asset value<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)(d)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(22.91</td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(2.48</td>
       <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Ratio to average net assets:</p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(0.50</td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(0.50</td>
       <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Expenses<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.50</td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.50</td>
       <td 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>
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   <p style="margin: 0pt;">&#160;</p>
   <hr style="text-align: left; height: 1px; color: #000000; background-color: #000000; width: 10%; border: none; margin: 3pt auto 3pt 0"/>
   <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin-left: 0pt; margin-right: 0pt;">
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      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
      <td style="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>
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     <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</span></p> </td>
      <td style="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 style="font: inherit;"> may </em><em style="font: inherit;">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&#8217;s underlying investment.</p> </td>
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     <tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)</span></p> </td>
      <td style="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="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(d)</span></p> </td>
      <td style="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 style="font: inherit;">not</em> annualized.</p> </td>
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      <td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</span></p> </td>
      <td style="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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Presentation of financial highlights related to investment performance and operations.</p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6608227168">
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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">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2020</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>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">362,616,711</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">6,294,157,046</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">6,543,418,555</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">61,719,272</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">889,817,438</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">889,817,438</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(28,512,880</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(494,644,937</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(484,999,588</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(9,645,349</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(454,637</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(7,896,659</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(7,971,299</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">74,640</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(9,570,709</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(1,423,211,664</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#160;</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);">395,368,466</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">6,681,432,888</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">5,507,482,733</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</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);">(9,570,709</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px 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 March 31, 2019 </b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">317,233,610</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">5,641,558,156</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">4,906,017,787</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">11,866,072</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">185,279,712</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">185,279,712</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(19,420,968</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(344,949,618</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(302,681,083</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(42,268,535</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(377,482</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(6,701,897</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(5,916,114</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(785,783</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(43,054,318</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(69,197,383</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#160;</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);">309,301,232</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">5,475,186,353</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">4,670,448,601</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</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);">(43,054,318</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
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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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      &lt;td colspan="10" style="vertical-align: middle; width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;Schedules of Investments (Unaudited)&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
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       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
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       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
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      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;395,368,466&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
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       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;
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       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
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       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total Investment &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134600"&gt;100.04%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;5,507,482,733&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
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      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Less Liabilities &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134606"&gt;(0.04)%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(2,365,640&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net Assets &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134612"&gt;100.00%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;5,505,117,093&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
     &lt;/tbody&gt;
    &lt;/table&gt;

   &lt;p style="margin: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;
    &lt;tbody&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;span style="text-decoration: underline; "&gt;&lt;em style="font: inherit;"&gt; December 31, 2019&lt;/em&gt;&lt;/span&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="margin: 0pt;"&gt;&#160;&lt;/p&gt;

    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Description&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;362,616,711&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,294,157,046&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&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;6,543,418,555&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total Investment &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134621"&gt;100.04%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,543,418,555&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Less Liabilities &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134627"&gt;(0.04)%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(2,659,990&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net Assets &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134633"&gt;100.00%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;6,540,758,565&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
     &lt;/tbody&gt;
    &lt;/table&gt;

   &lt;p style="margin: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="margin: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;
    &lt;tbody&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;i&gt;See notes to financial statements.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;
   &lt;div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"&gt;
    &lt;div class="PGFTR" style="text-align: center; width: 100%"&gt;
     &lt;div class="hf-row"&gt;
      &lt;div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"&gt;
       &lt;em style="font: inherit;"/&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"&gt;&lt;b&gt;&lt;em style="font: inherit;"/&gt;&lt;/b&gt;&lt;/p&gt;
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     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Description&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;395,368,466&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,681,432,888&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&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;5,507,482,733&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total Investment &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134600"&gt;100.04%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;5,507,482,733&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Less Liabilities &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134606"&gt;(0.04)%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(2,365,640&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net Assets &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134612"&gt;100.00%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;5,505,117,093&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
     &lt;/tbody&gt;
    &lt;/table&gt;

    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Description&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;362,616,711&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,294,157,046&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&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;6,543,418,555&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total Investment &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134621"&gt;100.04%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,543,418,555&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Less Liabilities &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134627"&gt;(0.04)%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(2,659,990&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net Assets &#x2013;&#160;&lt;span style="-sec-ix-hidden:c60134633"&gt;100.00%&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;em style="font: inherit;"&gt;&#160;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;6,540,758,565&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
     &lt;/tbody&gt;
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    <slv:SilverBullionBalance
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    <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533467">
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;1&lt;/em&gt; &lt;/b&gt;&lt;b&gt;- Organization&lt;/b&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The iShares Silver Trust (the &#x201c;Trust&#x201d;) was organized on &lt;em style="font: inherit;"&gt; April 21, 2006 &lt;/em&gt;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 &lt;em style="font: inherit;"&gt; December 22, 2016. &lt;/em&gt;The Trust issues units of beneficial interest (&#x201c;Shares&#x201d;) representing fractional undivided beneficial interests in its net assets.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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&#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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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 (&#x201c;U.S. GAAP&#x201d;) for interim financial information and with the instructions for Form &lt;em style="font: inherit;"&gt;10&lt;/em&gt;-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 &lt;em style="font: inherit;"&gt;not&lt;/em&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&#x2019;s financial statements included in its Annual Report on Form &lt;em style="font: inherit;"&gt;10&lt;/em&gt;-K for the year ended &lt;em style="font: inherit;"&gt; December 31, 2019, &lt;/em&gt;as filed with the SEC on &lt;em style="font: inherit;"&gt; February 27, 2020.&lt;/em&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust qualifies as an investment company solely for accounting purposes and &lt;em style="font: inherit;"&gt;not&lt;/em&gt; for any other purpose and follows the accounting and reporting guidance under the Financial Accounting Standards Board Accounting Standards Codification Topic &lt;em style="font: inherit;"&gt;946,&lt;/em&gt; &lt;i&gt;Financial Services - Investment Companies&lt;/i&gt;, but is &lt;em style="font: inherit;"&gt;not&lt;/em&gt; registered, and is &lt;em style="font: inherit;"&gt;not&lt;/em&gt; required to be registered, as an investment company under the Investment Company Act of &lt;em style="font: inherit;"&gt;1940,&lt;/em&gt; as amended.&lt;/p&gt;
  </us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
    <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533468">
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;2&lt;/em&gt; - Significant Accounting Policies&lt;/b&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;
    &lt;tbody&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i/&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/tbody&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;A.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Basis of Accounting&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;&lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"/&gt;
   &lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;
    &lt;tbody&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i/&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/tbody&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;B.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Silver Bullion&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;JPMorgan Chase Bank N.A., London branch (the &#x201c;Custodian&#x201d;), is responsible for the safekeeping of silver bullion owned by the Trust.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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 consisting of &lt;em style="font: inherit;"&gt;one&lt;/em&gt; or more &lt;em style="font: inherit;"&gt;30&#x2011;second&lt;/em&gt; rounds hosted by ICE Benchmark Administration (&#x201c;IBA&#x201d;) that begins at &lt;em style="font: inherit;"&gt;12:00&lt;/em&gt; p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such price, the &#x201c;LBMA Silver Price&#x201d;). If there is &lt;em style="font: inherit;"&gt;no&lt;/em&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.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"&gt;
    &lt;div class="PGFTR" style="text-align: center; width: 100%"&gt;
     &lt;div class="hf-row"&gt;
      &lt;div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"&gt;
       &lt;em style="font: inherit;"/&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"/&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following tables summarize activity in silver bullion for the &lt;em style="font: inherit;"&gt;three&lt;/em&gt; months ended &lt;em style="font: inherit;"&gt; March 31, 2020 &lt;/em&gt;and &lt;em style="font: inherit;"&gt;2019:&lt;/em&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;

    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Three Months Ended March 31, 2020 &lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br/&gt; &lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair&lt;br/&gt; Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Realized&lt;br/&gt; Gain (Loss)&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;362,616,711&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,294,157,046&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,543,418,555&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;61,719,272&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;889,817,438&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;889,817,438&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(28,512,880&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(494,644,937&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(484,999,588&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(9,645,349&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(454,637&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(7,896,659&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(7,971,299&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;74,640&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(9,570,709&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(1,423,211,664&lt;/td&gt;
       &lt;td 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;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;&#160;&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;395,368,466&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;6,681,432,888&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;5,507,482,733&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&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;(9,570,709&lt;/td&gt;
       &lt;td 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;/tbody&gt;
    &lt;/table&gt;

   &lt;p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&#160;&lt;/p&gt;

    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Three Months Ended March 31, 2019 &lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br/&gt; &lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair&lt;br/&gt; Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Realized&lt;br/&gt; Gain (Loss)&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;317,233,610&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;5,641,558,156&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;4,906,017,787&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;11,866,072&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;185,279,712&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;185,279,712&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(19,420,968&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(344,949,618&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(302,681,083&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(42,268,535&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(377,482&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(6,701,897&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(5,916,114&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(785,783&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(43,054,318&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(69,197,383&lt;/td&gt;
       &lt;td 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;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;&#160;&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;309,301,232&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;5,475,186,353&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;4,670,448,601&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&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;(43,054,318&lt;/td&gt;
       &lt;td 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;/tbody&gt;
    &lt;/table&gt;

   &lt;p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&#160;&lt;/p&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"/&gt;
   &lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;
    &lt;tbody&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i/&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/tbody&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;C.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Calculation of Net Asset Value&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;On each business day, as soon as practicable after &lt;em style="font: inherit;"&gt;4:00&lt;/em&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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;&lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"/&gt;
   &lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;
    &lt;tbody&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i/&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/tbody&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;D. &lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Offering of the Shares&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Trust Shares are issued and redeemed continuously in aggregations of 50,000 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 &lt;em style="font: inherit;"&gt; may &lt;/em&gt;redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of 50,000 Shares&#x37e; &lt;i&gt;provided&lt;/i&gt;, that redemptions of Shares &lt;em style="font: inherit;"&gt; may &lt;/em&gt;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 &lt;em style="font: inherit;"&gt;not&lt;/em&gt; reasonably practicable.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;&lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"/&gt;
   &lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;
    &lt;tbody&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i/&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/tbody&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;E.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Federal Income Taxes&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;em style="font: inherit;"&gt;no&lt;/em&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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;em style="font: inherit;"&gt; March 31, 2020 &lt;/em&gt;and does &lt;em style="font: inherit;"&gt;not&lt;/em&gt; believe that there are any uncertain tax positions that require recognition of a tax liability.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"&gt;
    &lt;div class="PGFTR" style="text-align: center; width: 100%"&gt;
     &lt;div class="hf-row"&gt;
      &lt;div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"&gt;
       &lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"&gt;&lt;div class="PGFTR" style="text-align: center; width: 100%"&gt;&lt;div class="hf-row"&gt;&lt;div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"&gt;&lt;em style="font: inherit;"/&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div class="PGHDR" style="text-align: left; width: 100%"&gt;&lt;div class="hf-row"&gt;&lt;div class="hf-cell TOCLink" style="display: inline-block; text-align: left;"&gt;&lt;a href="#toc" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt"/&gt;
      &lt;/div&gt;
     &lt;/div&gt;
    &lt;/div&gt;
   &lt;/div&gt;
  </us-gaap:SignificantAccountingPoliciesTextBlock>
    <us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="d_2020-01-01_2020-03-31" id="c60135027">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;A.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Basis of Accounting&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
    <us-gaap:InvestmentPolicyTextBlock contextRef="d_2020-01-01_2020-03-31" id="c60135028">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;B.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Silver Bullion&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;JPMorgan Chase Bank N.A., London branch (the &#x201c;Custodian&#x201d;), is responsible for the safekeeping of silver bullion owned by the Trust.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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 consisting of &lt;em style="font: inherit;"&gt;one&lt;/em&gt; or more &lt;em style="font: inherit;"&gt;30&#x2011;second&lt;/em&gt; rounds hosted by ICE Benchmark Administration (&#x201c;IBA&#x201d;) that begins at &lt;em style="font: inherit;"&gt;12:00&lt;/em&gt; p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such price, the &#x201c;LBMA Silver Price&#x201d;). If there is &lt;em style="font: inherit;"&gt;no&lt;/em&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.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"&gt;
    &lt;div class="PGFTR" style="text-align: center; width: 100%"&gt;
     &lt;div class="hf-row"&gt;
      &lt;div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"&gt;
       &lt;em style="font: inherit;"/&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"/&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The following tables summarize activity in silver bullion for the &lt;em style="font: inherit;"&gt;three&lt;/em&gt; months ended &lt;em style="font: inherit;"&gt; March 31, 2020 &lt;/em&gt;and &lt;em style="font: inherit;"&gt;2019:&lt;/em&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;

    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Three Months Ended March 31, 2020 &lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br/&gt; &lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair&lt;br/&gt; Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Realized&lt;br/&gt; Gain (Loss)&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;362,616,711&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,294,157,046&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,543,418,555&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;61,719,272&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;889,817,438&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;889,817,438&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(28,512,880&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(494,644,937&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(484,999,588&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(9,645,349&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(454,637&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(7,896,659&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(7,971,299&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;74,640&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(9,570,709&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(1,423,211,664&lt;/td&gt;
       &lt;td 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;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;&#160;&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;395,368,466&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;6,681,432,888&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;5,507,482,733&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&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;(9,570,709&lt;/td&gt;
       &lt;td 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;/tbody&gt;
    &lt;/table&gt;

   &lt;p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&#160;&lt;/p&gt;

    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Three Months Ended March 31, 2019 &lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br/&gt; &lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair&lt;br/&gt; Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Realized&lt;br/&gt; Gain (Loss)&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;317,233,610&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;5,641,558,156&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;4,906,017,787&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;11,866,072&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;185,279,712&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;185,279,712&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(19,420,968&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(344,949,618&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(302,681,083&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(42,268,535&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(377,482&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(6,701,897&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(5,916,114&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(785,783&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(43,054,318&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(69,197,383&lt;/td&gt;
       &lt;td 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;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;&#160;&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;309,301,232&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;5,475,186,353&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;4,670,448,601&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&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;(43,054,318&lt;/td&gt;
       &lt;td 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;/tbody&gt;
    &lt;/table&gt;

   &lt;p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&#160;&lt;/p&gt;</us-gaap:InvestmentPolicyTextBlock>
    <slv:ActivityInSilverBullionTableTextBlock
      contextRef="d_2020-01-01_2020-03-31"
      id="c67B483E6-E0DC-4BC7-A861-6E04F604C5FD">
    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Three Months Ended March 31, 2020 &lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br/&gt; &lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair&lt;br/&gt; Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Realized&lt;br/&gt; Gain (Loss)&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;362,616,711&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,294,157,046&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;6,543,418,555&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;61,719,272&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;889,817,438&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;889,817,438&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(28,512,880&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(494,644,937&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(484,999,588&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(9,645,349&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(454,637&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(7,896,659&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(7,971,299&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;74,640&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(9,570,709&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(1,423,211,664&lt;/td&gt;
       &lt;td 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;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;&#160;&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;395,368,466&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;6,681,432,888&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;5,507,482,733&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&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;(9,570,709&lt;/td&gt;
       &lt;td 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;/tbody&gt;
    &lt;/table&gt;

    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;Three Months Ended March 31, 2019 &lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Ounces&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;br/&gt; &lt;b&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Fair&lt;br/&gt; Value&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Realized&lt;br/&gt; Gain (Loss)&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Beginning balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;317,233,610&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;5,641,558,156&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;4,906,017,787&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion contributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;11,866,072&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;185,279,712&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;185,279,712&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion distributed&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(19,420,968&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(344,949,618&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(302,681,083&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(42,268,535&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Silver bullion sold to pay expenses&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(377,482&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(6,701,897&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(5,916,114&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(785,783&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;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net realized loss&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(43,054,318&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: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Net change in unrealized appreciation/depreciation&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&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;(69,197,383&lt;/td&gt;
       &lt;td 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;&#160;&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;&#160;&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;em style="font: inherit;"&gt;&#x2014;&lt;/em&gt;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Ending balance&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;&#160;&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;309,301,232&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;5,475,186,353&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;4,670,448,601&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&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;(43,054,318&lt;/td&gt;
       &lt;td 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;/tbody&gt;
    &lt;/table&gt;
   </slv:ActivityInSilverBullionTableTextBlock>
    <slv:SilverBullionBalance
      contextRef="i_2019-12-31"
      decimals="INF"
      id="c60134668"
      unitRef="Ounce">362616711</slv:SilverBullionBalance>
    <us-gaap:InvestmentOwnedAtCost
      contextRef="i_2019-12-31"
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      contextRef="d_2019-01-01_2019-03-31"
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      id="c60134701"
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      contextRef="d_2019-01-01_2019-03-31"
      decimals="INF"
      id="c60134705"
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      contextRef="d_2019-01-01_2019-03-31"
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      id="c60134708"
      unitRef="Ounce">377482</slv:SilverSold>
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      contextRef="d_2019-01-01_2019-03-31"
      decimals="INF"
      id="c60134709"
      unitRef="USD">6701897</slv:SilverSoldAverageCost>
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      contextRef="d_2019-01-01_2019-03-31"
      decimals="INF"
      id="c60134710"
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      contextRef="d_2019-01-01_2019-03-31"
      decimals="INF"
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      unitRef="USD">-43054318</us-gaap:RealizedInvestmentGainsLosses>
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      decimals="INF"
      id="c60134721"
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      contextRef="i_2019-03-31"
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    <slv:CalculationOfNetAssetValuePolicyTextBlock contextRef="d_2020-01-01_2020-03-31" id="c60135030">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;C.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Calculation of Net Asset Value&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
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   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;On each business day, as soon as practicable after &lt;em style="font: inherit;"&gt;4:00&lt;/em&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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;</slv:CalculationOfNetAssetValuePolicyTextBlock>
    <slv:OfferingOfTheSharesPolicyTextBlock contextRef="d_2020-01-01_2020-03-31" id="c60135031">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;D. &lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Offering of the Shares&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Trust Shares are issued and redeemed continuously in aggregations of 50,000 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 &lt;em style="font: inherit;"&gt; may &lt;/em&gt;redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of 50,000 Shares&#x37e; &lt;i&gt;provided&lt;/i&gt;, that redemptions of Shares &lt;em style="font: inherit;"&gt; may &lt;/em&gt;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 &lt;em style="font: inherit;"&gt;not&lt;/em&gt; reasonably practicable.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;</slv:OfferingOfTheSharesPolicyTextBlock>
    <slv:SharesPrescribedAggregation
      contextRef="i_2020-03-31"
      decimals="INF"
      id="c60134662"
      unitRef="Share">50000</slv:SharesPrescribedAggregation>
    <slv:SharesPrescribedAggregation
      contextRef="i_2020-03-31"
      decimals="INF"
      id="c60134663"
      unitRef="Share">50000</slv:SharesPrescribedAggregation>
    <us-gaap:IncomeTaxPolicyTextBlock contextRef="d_2020-01-01_2020-03-31" id="c60135032">&lt;table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"&gt;&lt;tbody&gt;&lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;E.&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;"&gt;&lt;i&gt;Federal Income Taxes&lt;/i&gt;&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;em style="font: inherit;"&gt;no&lt;/em&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;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;em style="font: inherit;"&gt; March 31, 2020 &lt;/em&gt;and does &lt;em style="font: inherit;"&gt;not&lt;/em&gt; believe that there are any uncertain tax positions that require recognition of a tax liability.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"&gt;
    &lt;div class="PGFTR" style="text-align: center; width: 100%"&gt;
     &lt;div class="hf-row"&gt;
      &lt;div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;"&gt;
       &lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxPolicyTextBlock>
    <slv:TrustExpensesTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533471">
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;3&lt;/em&gt; &lt;/b&gt;&lt;b&gt;- Trust Expenses&lt;/b&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust pays to the Sponsor a Sponsor&#x2019;s fee that accrues daily at an annualized rate equal to 0.50% 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&#x2019;s fee, the Custodian&#x2019;s fee, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and up to $100,000 per annum in legal fees and expenses.&lt;/p&gt;
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      id="c60134725"
      unitRef="Pure">0.0050</slv:SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue>
    <slv:LegalFeesPerYear
      contextRef="d_2020-01-01_2020-03-31_RangeAxis-MaximumMember"
      decimals="INF"
      id="c60134726"
      unitRef="USD">100000</slv:LegalFeesPerYear>
    <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533472">
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;4&lt;/em&gt; - Related Parties&lt;/b&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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&#x2019;s fee is paid by the Sponsor and is &lt;em style="font: inherit;"&gt;not&lt;/em&gt; a separate expense of the Trust.&lt;/p&gt;
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    <slv:IndemnificationTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533473">
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;5&lt;/em&gt; - Indemnification&lt;/b&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust Agreement provides that the Trustee shall indemnify the Sponsor, its directors, employees and agents against, and hold each of them harmless from, any loss, liability, cost, expense or judgment (including reasonable fees and expenses of counsel) (i) caused by the negligence or bad faith of the Trustee or (ii) arising out of any information furnished in writing to the Sponsor by the Trustee expressly for use in the registration statement, or any amendment thereto or periodic or other report filed with the SEC relating to the Shares that is &lt;em style="font: inherit;"&gt;not&lt;/em&gt; materially altered by the Sponsor.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;The Trust Agreement provides that the Sponsor and its shareholders, directors, officers, employees, affiliates (as such term is defined under the Securities Act of &lt;em style="font: inherit;"&gt;1933,&lt;/em&gt; as amended) and subsidiaries shall be indemnified from the Trust and held harmless against any loss, liability or expense incurred without their (&lt;em style="font: inherit;"&gt;1&lt;/em&gt;) negligence, bad faith, willful misconduct or willful malfeasance arising out of or in connection with the performance of their obligations under the Trust Agreement or any actions taken in accordance with the provisions of the Trust Agreement or (&lt;em style="font: inherit;"&gt;2&lt;/em&gt;) reckless disregard of their obligations and duties under the Trust Agreement.&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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&#x2019;s negligence, fraud or willful default in the performance of its duties.&lt;/p&gt;
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    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533474">
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;6&lt;/em&gt; - Commitments and Contingent Liabilities&lt;/b&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;In the normal course of business, the Trust &lt;em style="font: inherit;"&gt; may &lt;/em&gt;enter into contracts with service providers that contain general indemnification clauses. The Trust&#x2019;s maximum exposure under these arrangements is unknown as this would involve future claims that &lt;em style="font: inherit;"&gt; may &lt;/em&gt;be made against the Trust that have &lt;em style="font: inherit;"&gt;not&lt;/em&gt; yet occurred.&lt;/p&gt;
  </us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533475">
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;7&lt;/em&gt; - Concentration Risk&lt;/b&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Substantially all of the Trust&#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;em style="font: inherit;"&gt; may &lt;/em&gt;have the effect of causing a decline in the price of silver include a change in economic conditions (such as a recession); a significant increase in the hedging activities of silver producers; significant changes in the attitude of speculators, investors and other market participants towards silver; global silver supply and demand; global or regional political, economic or financial events and situations; investors&#x2019;&#160;expectations with respect to the rate of inflation; interest rates; investment and trading activities of hedge funds and commodity funds; other economic variables such as income growth, economic output, and monetary policies; and investor confidence.&lt;/p&gt;
  </us-gaap:ConcentrationRiskDisclosureTextBlock>
    <slv:FinancialHighlightsTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533476">
   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;8&lt;/em&gt; &lt;/b&gt;&lt;b&gt;- Financial Highlights&lt;/b&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;
   &lt;p style="font-family: Arial; 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;em style="font: inherit;"&gt;three&lt;/em&gt; months ended &lt;em style="font: inherit;"&gt; March 31, 2020 &lt;/em&gt;and &lt;em style="font: inherit;"&gt;2019.&lt;/em&gt;&lt;/p&gt;
   &lt;p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&#160;&lt;/p&gt;

    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 17%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Three Months Ended&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&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: 17%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;March 31,&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;2020&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p 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;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;16.85&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;14.52&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net investment loss&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(a)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(0.02&lt;/td&gt;
       &lt;td style="width: 2%; 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;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(0.02&lt;/td&gt;
       &lt;td style="width: 2%; 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net realized and unrealized loss&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(b)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&lt;/td&gt;
       &lt;td 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);"&gt;(3.84&lt;/td&gt;
       &lt;td style="width: 2%; 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;&#160;&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;&#160;&lt;/td&gt;
       &lt;td 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);"&gt;(0.34&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net decrease in net assets from operations&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&lt;/td&gt;
       &lt;td 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);"&gt;(3.86&lt;/td&gt;
       &lt;td style="width: 2%; 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;&#160;&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;&#160;&lt;/td&gt;
       &lt;td 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);"&gt;(0.36&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p 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;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;12.99&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;14.16&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Total return, at net asset value&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(c)(d)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(22.91&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;)%&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(2.48&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;)%&lt;/p&gt; &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Ratio to average net assets:&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net investment loss&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(0.50&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;)%&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(0.50&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;)%&lt;/p&gt; &lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Expenses&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;0.50&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;0.50&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/p&gt; &lt;/td&gt;
      &lt;/tr&gt;
     &lt;/tbody&gt;
    &lt;/table&gt;

   &lt;p style="margin: 0pt;"&gt;&#160;&lt;/p&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 cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin-left: 0pt; margin-right: 0pt;"&gt;
    &lt;tbody&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(a)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p 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;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(b)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;"&gt;The amounts reported for a Share outstanding &lt;em style="font: inherit;"&gt; may &lt;/em&gt;&lt;em style="font: inherit;"&gt;not&lt;/em&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&#x2019;s underlying investment.&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(c)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p 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;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(d)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;"&gt;Percentage is &lt;em style="font: inherit;"&gt;not&lt;/em&gt; annualized.&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt;
      &lt;td style="width: 18pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
      &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 8pt; margin: 0pt; text-align: left;"&gt;Percentage is annualized.&lt;/p&gt; &lt;/td&gt;
     &lt;/tr&gt;
    &lt;/tbody&gt;
   &lt;/table&gt;
   &lt;p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&#160;&lt;/p&gt;
   &lt;div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt"&gt;
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   &lt;/div&gt;
  </slv:FinancialHighlightsTextBlock>
    <slv:FinancialHighlightsTableTextBlock contextRef="d_2020-01-01_2020-03-31" id="c1533477">
    &lt;table cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;"&gt;
     &lt;tbody&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td colspan="6" style="text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 17%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;Three Months Ended&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&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: 17%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;March 31,&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;2020&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&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;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"&gt;&lt;b&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p 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;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&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;$&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;16.85&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;$&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;14.52&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net investment loss&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(a)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(0.02&lt;/td&gt;
       &lt;td style="width: 2%; 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;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(0.02&lt;/td&gt;
       &lt;td style="width: 2%; 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net realized and unrealized loss&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(b)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&lt;/td&gt;
       &lt;td 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);"&gt;(3.84&lt;/td&gt;
       &lt;td style="width: 2%; 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;&#160;&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;&#160;&lt;/td&gt;
       &lt;td 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);"&gt;(0.34&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net decrease in net assets from operations&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;"&gt;&#160;&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;&#160;&lt;/td&gt;
       &lt;td 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);"&gt;(3.86&lt;/td&gt;
       &lt;td style="width: 2%; 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;&#160;&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;&#160;&lt;/td&gt;
       &lt;td 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);"&gt;(0.36&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt;
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       &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;$&lt;/td&gt;
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       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;14.16&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Total return, at net asset value&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(c)(d)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(22.91&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;)%&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(2.48&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;)%&lt;/p&gt; &lt;/td&gt;
      &lt;/tr&gt;
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       &lt;td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Ratio to average net assets:&lt;/p&gt; &lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;"&gt;&#160;&lt;/td&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;"&gt;&#160;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Net investment loss&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(0.50&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;)%&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;(0.50&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;)%&lt;/p&gt; &lt;/td&gt;
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      &lt;tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"&gt;
       &lt;td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;"&gt;Expenses&lt;span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"&gt;(e)&lt;/span&gt;&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;0.50&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/p&gt; &lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"&gt;&#160;&lt;/td&gt;
       &lt;td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt;0.50&lt;/td&gt;
       &lt;td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;%&lt;/p&gt; &lt;/td&gt;
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   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;&lt;b&gt;&lt;em style="font: inherit;"&gt;9&lt;/em&gt; - Investment Valuation&lt;/b&gt;&lt;/p&gt;
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   &lt;p style="font-family: Arial; 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&#x2019;s policy is to value its investment at fair value.&lt;/p&gt;
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   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Various inputs are used in determining the fair value of assets and liabilities. Inputs &lt;em style="font: inherit;"&gt; may &lt;/em&gt;be based on independent market data (&#x201c;observable inputs&#x201d;) or they &lt;em style="font: inherit;"&gt; may &lt;/em&gt;be internally developed (&#x201c;unobservable inputs&#x201d;). These inputs are categorized into a disclosure hierarchy consisting of &lt;em style="font: inherit;"&gt;three&lt;/em&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;em style="font: inherit;"&gt;three&lt;/em&gt; levels of the fair value hierarchy are as follows:&lt;/p&gt;
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   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 63pt; text-align: left; text-indent: -36pt;"&gt;Level &lt;em style="font: inherit;"&gt;1&lt;/em&gt; &#x2013;&#160; Unadjusted quoted prices in active markets for identical assets or liabilities;&lt;/p&gt;
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   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 72pt; text-align: left; text-indent: -45pt;"&gt;Level &lt;em style="font: inherit;"&gt;2&lt;/em&gt; &#x2013;&#160; Inputs other than quoted prices included within Level &lt;em style="font: inherit;"&gt;1&lt;/em&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;em style="font: inherit;"&gt;not&lt;/em&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;/p&gt;
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   &lt;p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 72pt; text-align: left; text-indent: -45pt;"&gt;Level &lt;em style="font: inherit;"&gt;3&lt;/em&gt; &#x2013;&#160; Unobservable inputs that are unobservable for the asset or liability, including the Trust&#x2019;s assumptions used in determining the fair value of investments.&lt;/p&gt;
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6816365680">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Statements of Assets and Liabilities (Unaudited) - USD ($)<br></strong></div></th>
<th class="th"><div>Mar. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentInPhysicalCommoditiesFairValueDisclosure', window );">Investment in silver bullion, at fair value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 5,507,482,733<span></span>
</td>
<td class="nump">$ 6,543,418,555<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">5,507,482,733<span></span>
</td>
<td class="nump">6,543,418,555<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>
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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_us-gaap_AccountsPayableFairValueDisclosure', window );">Sponsor&#8217;s fees payable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,365,640<span></span>
</td>
<td class="nump">2,659,990<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">2,365,640<span></span>
</td>
<td class="nump">2,659,990<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="text"> <span></span>
</td>
<td class="text"> <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">$ 5,505,117,093<span></span>
</td>
<td class="nump">$ 6,540,758,565<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 (in shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">423,700,000<span></span>
</td>
<td class="nump">388,100,000<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">$ 12.99<span></span>
</td>
<td class="nump">$ 16.85<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><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: $6,681,432,888 and $6,294,157,046, 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>
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<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=121572278&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">
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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>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=117815213&amp;loc=d3e19207-110258<br></p></div>
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<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=120391452&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=120400017&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=120398452&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=121557415&amp;loc=d3e14326-108349<br></p></div>
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<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>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueNetAssetLiability</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_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://www.xbrl.org/2009/role/commonPracticeRef<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=117815213&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_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_LiabilitiesAbstract">
<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_LiabilitiesAbstract</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_LiabilitiesFairValueDisclosure">
<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 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=117815213&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>
</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>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_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=120391452&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>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TemporaryEquitySharesOutstanding">
<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 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=120391452&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_TemporaryEquitySharesOutstanding</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>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803092320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Statements of Cash Flows (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2020</div></th>
<th class="th"><div>Mar. 31, 2019</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_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash Flows from Operating Activities</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_ProceedsFromSaleOfTrustAssetsToPayExpenses', window );">Proceeds from silver bullion sold to pay expenses</a></td>
<td class="nump">$ 7,971,299<span></span>
</td>
<td class="nump">$ 5,916,114<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="num">(7,971,299)<span></span>
</td>
<td class="num">(5,916,114)<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 (used in) operating activities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<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="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_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, beginning of period</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_CashAndCashEquivalentsAtCarryingValue', window );">Cash, end of period</a></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>
</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 decrease in net assets resulting from operations</a></td>
<td class="num">(1,440,459,322)<span></span>
</td>
<td class="num">(118,203,615)<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>
</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="nump">7,971,299<span></span>
</td>
<td class="nump">5,916,114<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">9,570,709<span></span>
</td>
<td class="nump">43,054,318<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">1,423,211,664<span></span>
</td>
<td class="nump">69,197,383<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>
</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="num">(294,350)<span></span>
</td>
<td class="nump">35,800<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 (used in) operating activities</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_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>
</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="nump">889,817,438<span></span>
</td>
<td class="nump">185,279,712<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="num">$ (484,999,588)<span></span>
</td>
<td class="num">$ (302,681,083)<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>
</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_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>
</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_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=121586364&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=121566466&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=120391452&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>
</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_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>
<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_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=121583591&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=121583591&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=121583591&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>
</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_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=121586364&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>
</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_NetCashProvidedByUsedInOperatingActivities">
<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 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=121586364&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=121586364&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=121586364&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_NetCashProvidedByUsedInOperatingActivities</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>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_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<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_NetCashProvidedByUsedInOperatingActivitiesAbstract</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_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=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: 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> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: 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-SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: 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 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: 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 (a)<br> -URI 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<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_OtherSignificantNoncashTransactionValueOfConsiderationGiven1">
<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 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=121583591&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=121583591&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=121583591&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>
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<td style="white-space:nowrap;">us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1</td>
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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=121586364&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">
<tr>
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<td style="white-space:nowrap;">us-gaap_PaymentsForFees</td>
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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=121586364&amp;loc=d3e3337-108585<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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized 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 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=120400993&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 );">+ 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_SupplementalCashFlowInformationAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of 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 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6806036592">
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<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">3 Months Ended</th>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(2,365,640</td>
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       <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 &#8211;&#160;<span style="-sec-ix-hidden:c60134612">100.00%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6799513072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Concentration Risk<br></strong></div></th>
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   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Substantially all of the Trust&#8217;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 style="font: inherit;"> may </em>have the effect of causing a decline in the price of silver include a change in economic conditions (such as a recession); a significant increase in the hedging activities of silver producers; significant changes in the attitude of speculators, investors and other market participants towards silver; global silver supply and demand; global or regional political, economic or financial events and situations; investors&#8217;&#160;expectations with respect to the rate of inflation; interest rates; investment and trading activities of hedge funds and commodity funds; other economic variables such as income growth, economic output, and monetary policies; and investor confidence.</p>
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<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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<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>Mar. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
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<td class="nump">388,100,000<span></span>
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<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>
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       <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);">5,507,482,733</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">5,507,482,733</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#8211;&#160;<span style="-sec-ix-hidden:c60134606">(0.04)%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(2,365,640</td>
       <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#8211;&#160;<span style="-sec-ix-hidden:c60134612">100.00%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">5,505,117,093</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
      </tr>
     </tbody>
    </table>

   <p style="margin: 0pt;">&#160;</p>
   <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
    <tbody>
     <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;"><b><span style="text-decoration: underline; "><em style="font: inherit;"> December 31, 2019</em></span></b></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="margin: 0pt;">&#160;</p>

    <table cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px; margin-left: 0pt; margin-right: 0pt;">
     <tbody>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 34%; border-bottom: 1px 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>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Cost</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">362,616,711</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">6,294,157,046</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</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);">6,543,418,555</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#8211;&#160;<span style="-sec-ix-hidden:c60134621">100.04%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 19%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">6,543,418,555</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#8211;&#160;<span style="-sec-ix-hidden:c60134627">(0.04)%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(2,659,990</td>
       <td 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; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 &#8211;&#160;<span style="-sec-ix-hidden:c60134633">100.00%</span></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">&#160;</em></td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">6,540,758,565</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
      </tr>
     </tbody>
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   <p style="margin: 0pt;">&#160;</p>
   <p style="margin: 0pt;">&#160;</p>
   <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
    <tbody>
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      <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: left;"><i>See notes to financial statements.</i></p> </td>
     </tr>
    </tbody>
   </table>
   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"><i>&#160;</i></p>
   <div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
    <div class="PGFTR" style="text-align: center; width: 100%">
     <div class="hf-row">
      <div class="hf-cell PGNUM" style="text-align: center; font-size: 10pt; font-family: Arial;">
       <em style="font: inherit;"/></div></div></div></div><p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b><em style="font: inherit;"/></b></p>
  <span></span>
</td>
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<div style="display: none;">
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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">
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<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>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>
<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_InvestmentHoldingsScheduleOfInvestmentsTextBlock</td>
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<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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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<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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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6812485216">
<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>Mar. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</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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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<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://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-12B(Column D))<br> -URI http://asc.fasb.org/extlink&amp;oid=120401592&amp;loc=d3e611197-123010<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></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>
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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_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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>instant</td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<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;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803228288">
<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>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2020</div></th>
<th class="th"><div>Mar. 31, 2019</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">$ 16.85<span></span>
</td>
<td class="nump">$ 14.52<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 (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>
</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 loss (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(3.84)<span></span>
</td>
<td class="num">(0.34)<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_NetIncreaseDecreaseInNetAssetsFromOperationsPerShare', window );">Net 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">(3.86)<span></span>
</td>
<td class="num">(0.36)<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">$ 12.99<span></span>
</td>
<td class="nump">$ 14.16<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</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="num">(22.91%)<span></span>
</td>
<td class="num">(2.48%)<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>
</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</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>
</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</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>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><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>
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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>
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<td><strong> Period Type:</strong></td>
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</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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
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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>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>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
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<tr>
<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>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_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>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796834880">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6648519296">
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   <p style="font-family: Arial; 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&#8217;s policy is to value its investment at fair value.</p>
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   <p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 63pt; text-align: left; text-indent: -36pt;">Level <em style="font: inherit;">1</em> &#8211;&#160; Unadjusted quoted prices in active markets for identical assets or liabilities;</p>
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<td class="text">false<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_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<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_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<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_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Shares<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_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">SLV<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_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSEArca<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_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">442,600,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<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>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</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_AmendmentFlag</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:booleanItemType</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_dei_CityAreaCode">
<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>Area code of city</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_CityAreaCode</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>
<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_dei_CurrentFiscalYearEndDate">
<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>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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</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:gMonthDayItemType</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_dei_DocumentFiscalPeriodFocus">
<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>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</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_DocumentFiscalPeriodFocus</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>dei:fiscalPeriodItemType</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_dei_DocumentFiscalYearFocus">
<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>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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</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:gYearItemType</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_dei_DocumentInformationLineItems">
<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>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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</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: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_dei_DocumentPeriodEndDate">
<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 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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</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:dateItemType</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_dei_DocumentQuarterlyReport">
<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>Boolean flag that is true only for a form used as an quarterly report.</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 Form 10-Q<br> -Number 240<br> -Section 13<br> -Subsection a-13<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_DocumentQuarterlyReport</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:booleanItemType</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_dei_DocumentTransitionReport">
<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>Boolean flag that is true only for a form used as a transition report.</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 Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-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;">dei_DocumentTransitionReport</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:booleanItemType</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_dei_DocumentType">
<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 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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</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>dei:submissionTypeItemType</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_dei_EntityAddressAddressLine1">
<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>Address Line 1 such as Attn, Building Name, Street Name</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_EntityAddressAddressLine1</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>
<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_dei_EntityAddressCityOrTown">
<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>Name of the City or Town</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_EntityAddressCityOrTown</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>
<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_dei_EntityAddressPostalZipCode">
<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>Code for the postal or zip code</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_EntityAddressPostalZipCode</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>
<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_dei_EntityAddressStateOrProvince">
<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>Name of the state or province.</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_EntityAddressStateOrProvince</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>dei:stateOrProvinceItemType</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_dei_EntityCentralIndexKey">
<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>
</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>dei:centralIndexKeyItemType</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_dei_EntityCommonStockSharesOutstanding">
<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>
</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: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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</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_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>
</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:booleanItemType</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_dei_EntityFileNumber">
<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>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</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_EntityFileNumber</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>dei:fileNumberItemType</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_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: Large Accelerated Filer, Accelerated Filer, Non-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>
</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>dei:filerCategoryItemType</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_dei_EntityIncorporationStateCountryCode">
<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>Two-character EDGAR code representing the state or country of incorporation.</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_EntityIncorporationStateCountryCode</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>dei:edgarStateCountryItemType</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_dei_EntityInteractiveDataCurrent">
<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>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</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-T<br> -Number 232<br> -Section 405<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_EntityInteractiveDataCurrent</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>dei:yesNoItemType</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_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>
</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>
<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_dei_EntityShellCompany">
<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>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</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_EntityShellCompany</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:booleanItemType</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_dei_EntitySmallBusiness">
<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 (SRC).</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>
</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:booleanItemType</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_dei_EntityTaxIdentificationNumber">
<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 Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</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_EntityTaxIdentificationNumber</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>dei:employerIdItemType</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_dei_LocalPhoneNumber">
<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>Local phone number for entity.</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_LocalPhoneNumber</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>
<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_dei_Security12bTitle">
<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>Title of a 12(b) registered security.</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 Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<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_Security12bTitle</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>dei:securityTitleItemType</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_dei_SecurityExchangeName">
<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>Name of the Exchange on which a security is registered.</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 Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<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;">dei_SecurityExchangeName</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>dei:edgarExchangeCodeItemType</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_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>dei:tradingSymbolItemType</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>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6815475600">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Statements of Changes in Net Assets (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2020</div></th>
<th class="th"><div>Mar. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueNetAssetLiability', window );">Net Assets, Beginning of Period</a></td>
<td class="nump">$ 6,540,758,565<span></span>
</td>
<td class="nump">$ 4,904,036,623<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">(7,676,949)<span></span>
</td>
<td class="num">(5,951,914)<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">(9,570,709)<span></span>
</td>
<td class="num">(43,054,318)<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">(1,423,211,664)<span></span>
</td>
<td class="num">(69,197,383)<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 decrease in net assets resulting from operations</a></td>
<td class="num">(1,440,459,322)<span></span>
</td>
<td class="num">(118,203,615)<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">889,817,438<span></span>
</td>
<td class="nump">185,279,712<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">(484,999,588)<span></span>
</td>
<td class="num">(302,681,083)<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">404,817,850<span></span>
</td>
<td class="num">(117,401,371)<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">(1,035,641,472)<span></span>
</td>
<td class="num">(235,604,986)<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">$ 5,505,117,093<span></span>
</td>
<td class="nump">$ 4,668,431,637<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">66,150,000<span></span>
</td>
<td class="nump">12,650,000<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">(30,550,000)<span></span>
</td>
<td class="num">(20,700,000)<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_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease', window );">Net increase (decrease) in Shares issued and outstanding (in shares)</a></td>
<td class="nump">35,600,000<span></span>
</td>
<td class="num">(8,050,000)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_CapitalShareTransactionsAbstract">
<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_CapitalShareTransactionsAbstract</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_IncreaseDecreaseInNetAssets">
<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>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>
</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>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_OperationsAbstract">
<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_OperationsAbstract</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_SharesIssuedAndRedeemedAbstract">
<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_SharesIssuedAndRedeemedAbstract</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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_SharesOfStockClassifedAsTemporaryEquitySurrenderedDuringReportingPeriod">
<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 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>
</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>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_slv_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod">
<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 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>
</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_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>
<td style="white-space:nowrap;">us-gaap_FairValueNetAssetLiability</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_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>
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<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><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>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
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<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</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>Amount of realized 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 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=120400993&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><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=120391452&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=120397183&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=120391452&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>
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<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>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</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 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>
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<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=120391452&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>
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<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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of 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 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&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>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6656695136">
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<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">3 Months Ended</th>
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   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><b><em style="font: inherit;">2</em> - Significant Accounting Policies</b></p>
   <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
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      <td style="width: 18pt; 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/></p></td></tr></tbody></table><table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Basis of Accounting</i></p> </td>
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   <p style="font-family: Arial; 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>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation.</p>
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      <td style="width: 18pt; 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/></p></td></tr></tbody></table><table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Silver Bullion</i></p> </td>
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   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">JPMorgan Chase Bank N.A., London branch (the &#8220;Custodian&#8221;), is responsible for the safekeeping of silver bullion owned by the Trust.</p>
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   <p style="font-family: Arial; 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 consisting of <em style="font: inherit;">one</em> or more <em style="font: inherit;">30&#8209;second</em> rounds hosted by ICE Benchmark Administration (&#8220;IBA&#8221;) that begins at <em style="font: inherit;">12:00</em> p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such price, the &#8220;LBMA Silver Price&#8221;). If there is <em style="font: inherit;">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.</p>
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   <p style="font-family: Arial; 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>
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   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The following tables summarize activity in silver bullion for the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2020 </em>and <em style="font: inherit;">2019:</em></p>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px 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 March 31, 2020 </b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p> </td>
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       <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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><br/> <b><b>Cost</b></b></p> </td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">362,616,711</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">6,294,157,046</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">6,543,418,555</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">61,719,272</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">889,817,438</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">889,817,438</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(28,512,880</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(494,644,937</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(484,999,588</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(9,645,349</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(454,637</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(7,896,659</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(7,971,299</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">74,640</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(9,570,709</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(1,423,211,664</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#160;</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);">395,368,466</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">6,681,432,888</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">5,507,482,733</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</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);">(9,570,709</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
      </tr>
     </tbody>
    </table>

   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#160;</p>

    <table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">
     <tbody>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px 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 March 31, 2019 </b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">317,233,610</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">5,641,558,156</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">4,906,017,787</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">11,866,072</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">185,279,712</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">185,279,712</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(19,420,968</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(344,949,618</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(302,681,083</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(42,268,535</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(377,482</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(6,701,897</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(5,916,114</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(785,783</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(43,054,318</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(69,197,383</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#160;</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);">309,301,232</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
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   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#160;</p><p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;"/>
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      <td style="width: 18pt; 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/></p></td></tr></tbody></table><table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Calculation of Net Asset Value</i></p> </td>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">On each business day, as soon as practicable after <em style="font: inherit;">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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p><p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"/>
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      <td style="width: 18pt; 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/></p></td></tr></tbody></table><table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Trust Shares are issued and redeemed continuously in aggregations of 50,000 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 &#8220;Authorized Participants&#8221;). Holders of Shares of the Trust <em style="font: inherit;"> may </em>redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of 50,000 Shares&#894; <i>provided</i>, that redemptions of Shares <em style="font: inherit;"> may </em>be suspended during any period while regular trading on NYSE Arca, Inc. (&#8220;NYSE Arca&#8221;) is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of silver is <em style="font: inherit;">not</em> reasonably practicable.</p>
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   <p style="font-family: Arial; 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>
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   <p style="font-family: Arial; 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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p><p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"/>
   <table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">
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   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust is treated as a grantor trust for federal income tax purposes and, therefore, <em style="font: inherit;">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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; 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 style="font: inherit;"> March 31, 2020 </em>and does <em style="font: inherit;">not</em> believe that there are any uncertain tax positions that require recognition of a tax liability.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>36
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6614119344">
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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">3 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2020</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>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; width: 2%;">&#160;</td>
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       <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 68%;"> <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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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>
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       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">14.52</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&#160;</td>
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       <td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(a)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(0.02</td>
       <td style="width: 2%; 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(0.02</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net realized and unrealized loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(b)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
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       <td style="width: 2%; 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;">&#160;</td>
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       <td 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);">(0.34</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
       <td 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);">(0.36</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
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       <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 68%;"> <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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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>
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       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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>
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       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Total return, at net asset value<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(c)(d)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(22.91</td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(2.48</td>
       <td 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>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="width: 68%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 2%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td colspan="1" style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Ratio to average net assets:</p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">&#160;</td>
       <td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 12%;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 2%;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Net investment loss<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(0.50</td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(0.50</td>
       <td 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>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Expenses<span style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">(e)</span></p> </td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.50</td>
       <td 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 12%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.50</td>
       <td 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>
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<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 );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<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">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6812565920">
<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>
</tr>
<tr>
<th class="th" colspan="2">
<div>Mar. 31, 2020 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Mar. 31, 2019 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverBullionBalance', window );">Beginning balance (Ounce) | oz</a></td>
<td class="nump">362,616,711<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">317,233,610<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtCost', window );">Beginning balance, average cost</a></td>
<td class="nump">$ 6,294,157,046<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 5,641,558,156<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_InvestmentInPhysicalCommoditiesFairValueDisclosure', window );">Beginning balance, fair value</a></td>
<td class="nump">$ 6,543,418,555<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 4,906,017,787<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_SilverContributed', window );">Silver bullion contributed (Ounce) | oz</a></td>
<td class="nump">61,719,272<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">11,866,072<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_SilverContributedAverageCost', window );">Silver bullion contributed, average cost</a></td>
<td class="nump">$ 889,817,438<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 185,279,712<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_SilverContributedFairValue', window );">Silver bullion contributed, fair value</a></td>
<td class="nump">$ 889,817,438<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 185,279,712<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_SilverDistributed', window );">Silver bullion distributed (Ounce) | oz</a></td>
<td class="num">(28,512,880)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(19,420,968)<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_SilverDistributedAverageCost', window );">Silver bullion distributed, average cost</a></td>
<td class="num">$ (494,644,937)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (344,949,618)<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_SilverDistributedFairValue', window );">Silver bullion distributed, fair value</a></td>
<td class="num">(484,999,588)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(302,681,083)<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_NetRealizedGainLossFromSilverDistributedForTheRedemptionOfShares', window );">Silver bullion distributed, realized gain (loss)</a></td>
<td class="num">$ (9,645,349)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (42,268,535)<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_SilverSold', window );">Silver bullion sold to pay expenses (Ounce) | oz</a></td>
<td class="num">(454,637)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(377,482)<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_SilverSoldAverageCost', window );">Silver bullion sold to pay expenses, average cost</a></td>
<td class="num">$ (7,896,659)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (6,701,897)<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_SilverSoldFairValue', window );">Silver bullion sold to pay expenses, fair value</a></td>
<td class="num">(7,971,299)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(5,916,114)<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, realized gain (loss)</a></td>
<td class="nump">74,640<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(785,783)<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_RealizedInvestmentGainsLosses', window );">Net realized gain (loss), fair value</a></td>
<td class="num">(9,570,709)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(43,054,318)<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_UnrealizedGainLossOnInvestments', window );">Net change in unrealized appreciation/depreciation, fair value</a></td>
<td class="num">$ (1,423,211,664)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (69,197,383)<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_SilverBullionBalance', window );">Ending balance (Ounce) | oz</a></td>
<td class="nump">395,368,466<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">309,301,232<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 );">Ending balance, average cost</a></td>
<td class="nump">$ 6,681,432,888<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 5,475,186,353<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_InvestmentInPhysicalCommoditiesFairValueDisclosure', window );">Ending balance, fair value</a></td>
<td class="nump">5,507,482,733<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4,670,448,601<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 );">Ending balance, realized gain (loss)</a></td>
<td class="num">$ (9,570,709)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (43,054,318)<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: $6,681,432,888 and $6,294,157,046, respectively.</td>
</tr></table></td></tr>
</table>
<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>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>
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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>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>instant</td>
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<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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>slv_</td>
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<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</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>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>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
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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_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://www.xbrl.org/2009/role/commonPracticeRef<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=117815213&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_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>Amount of realized 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 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=120400993&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>Amount of 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 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&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>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6815613248">
<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>Mar. 31, 2020 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Mar. 31, 2019 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($) </div>
<div>oz</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_slv_SilverBullionBalance', window );">Silver bullion (Ounce) | oz</a></td>
<td class="nump">395,368,466<span></span>
</td>
<td class="nump">362,616,711<span></span>
</td>
<td class="nump">309,301,232<span></span>
</td>
<td class="nump">317,233,610<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtCost', window );">Investment in silver bullion, cost</a></td>
<td class="nump">$ 6,681,432,888<span></span>
</td>
<td class="nump">$ 6,294,157,046<span></span>
</td>
<td class="nump">$ 5,475,186,353<span></span>
</td>
<td class="nump">$ 5,641,558,156<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">5,507,482,733<span></span>
</td>
<td class="nump">6,543,418,555<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">(2,365,640)<span></span>
</td>
<td class="num">(2,659,990)<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">$ 5,505,117,093<span></span>
</td>
<td class="nump">$ 6,540,758,565<span></span>
</td>
<td class="nump">$ 4,668,431,637<span></span>
</td>
<td class="nump">$ 4,904,036,623<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">
<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>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6648703280">
<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">3 Months Ended</th>
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<tr><th class="th">
<div>Mar. 31, 2020 </div>
<div>USD ($)</div>
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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_SponsorsFeeAnnualizedAccrualRateBasedOnDailyNetAssetValue', window );">Sponsor's Fee Annualized Accrual Rate Based on Daily Net Asset Value</a></td>
<td class="nump">0.50%<span></span>
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</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>
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<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>
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<td>duration</td>
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<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>
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<td>na</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796901760">
<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">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2020</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>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6805361536">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
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<tr><th class="th"><div>Mar. 31, 2020</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>
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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>
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   <p style="font-family: Arial; 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>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p><span></span>
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   <p style="font-family: Arial; 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 consisting of <em style="font: inherit;">one</em> or more <em style="font: inherit;">30&#8209;second</em> rounds hosted by ICE Benchmark Administration (&#8220;IBA&#8221;) that begins at <em style="font: inherit;">12:00</em> p.m. (London time) and published shortly thereafter on each day that the London silver market is open for business (such price, the &#8220;LBMA Silver Price&#8221;). If there is <em style="font: inherit;">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.</p>
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   <p style="font-family: Arial; 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>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>

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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
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       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">362,616,711</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">6,294,157,046</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">6,543,418,555</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">61,719,272</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">889,817,438</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">889,817,438</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(28,512,880</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(494,644,937</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(484,999,588</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(9,645,349</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(454,637</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(7,896,659</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(7,971,299</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">74,640</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(9,570,709</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(1,423,211,664</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#160;</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);">395,368,466</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">6,681,432,888</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">5,507,482,733</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</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);">(9,570,709</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
      </tr>
     </tbody>
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   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#160;</p>

    <table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;">
     <tbody>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 48%; border-bottom: 1px 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 March 31, 2019 </b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: center;"><b><b>Ounces</b></b></p> </td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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);"> <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 style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">317,233,610</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">5,641,558,156</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">$</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">4,906,017,787</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</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;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
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      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">11,866,072</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">185,279,712</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">185,279,712</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(19,420,968</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(344,949,618</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(302,681,083</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(42,268,535</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(377,482</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(6,701,897</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(5,916,114</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(785,783</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td>
      </tr>
      <tr style="vertical-align: bottom; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; 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 style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(43,054,318</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;">&#160;</td>
       <td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;">&#8212;</em></td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">&#160;</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 1px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);">(69,197,383</td>
       <td 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;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</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);"><em style="font: inherit;">&#8212;</em></td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#160;</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);">309,301,232</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</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);">$</td>
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       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding-bottom: 3px;">&#160;</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</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);">(43,054,318</td>
       <td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
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   <p style="font-family: Arial, Helvetica, sans-serif;font-size:10pt;margin:0pt;text-align:left;">&#160;</p><span></span>
</td>
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<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_CalculationOfNetAssetValuePolicyTextBlock', window );">Calculation of Net Asset Value [Policy Text Block]</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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="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>Calculation of Net Asset Value</i></p> </td>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">On each business day, as soon as practicable after <em style="font: inherit;">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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p><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"><table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">Trust Shares are issued and redeemed continuously in aggregations of 50,000 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 &#8220;Authorized Participants&#8221;). Holders of Shares of the Trust <em style="font: inherit;"> may </em>redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of 50,000 Shares&#894; <i>provided</i>, that redemptions of Shares <em style="font: inherit;"> may </em>be suspended during any period while regular trading on NYSE Arca, Inc. (&#8220;NYSE Arca&#8221;) is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of silver is <em style="font: inherit;">not</em> reasonably practicable.</p>
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   <p style="font-family: Arial; 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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; 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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p><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"><table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 18pt; 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>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust is treated as a grantor trust for federal income tax purposes and, therefore, <em style="font: inherit;">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; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; 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 style="font: inherit;"> March 31, 2020 </em>and does <em style="font: inherit;">not</em> believe that there are any uncertain tax positions that require recognition of a tax liability.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
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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>
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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>
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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>
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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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for investment in financial asset.</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 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(3)(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&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 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6616865664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Organization<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2020</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>
<td class="text">&#160;<span></span>
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   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The iShares Silver Trust (the &#8220;Trust&#8221;) was organized on <em style="font: inherit;"> April 21, 2006 </em>as a New York trust. The trustee is The Bank of New York Mellon (the &#8220;Trustee&#8221;), which is responsible for the day-to-day administration of the Trust. The Trust&#8217;s sponsor is iShares Delaware Trust Sponsor LLC, a Delaware limited liability company (the &#8220;Sponsor&#8221;). The Trust is governed by the provisions of the Second Amended and Restated Depositary Trust Agreement (the &#8220;Trust Agreement&#8221;) executed by the Trustee and the Sponsor as of <em style="font: inherit;"> December 22, 2016. </em>The Trust issues units of beneficial interest (&#8220;Shares&#8221;) representing fractional undivided beneficial interests in its net assets.</p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; 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&#8217;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; font-size: 10pt; margin: 0pt; text-align: left;">&#160;</p>
   <p style="font-family: Arial; 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 (&#8220;U.S. GAAP&#8221;) for interim financial information and with the instructions for Form <em style="font: inherit;">10</em>-Q and the rules and regulations of the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;). 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 style="font: inherit;">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&#8217;s financial statements included in its Annual Report on Form <em style="font: inherit;">10</em>-K for the year ended <em style="font: inherit;"> December 31, 2019, </em>as filed with the SEC on <em style="font: inherit;"> February 27, 2020.</em></p>
   <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&#160;</p>
   <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;">The Trust qualifies as an investment company solely for accounting purposes and <em style="font: inherit;">not</em> for any other purpose and follows the accounting and reporting guidance under the Financial Accounting Standards Board Accounting Standards Codification Topic <em style="font: inherit;">946,</em> <i>Financial Services - Investment Companies</i>, but is <em style="font: inherit;">not</em> registered, and is <em style="font: inherit;">not</em> required to be registered, as an investment company under the Investment Company Act of <em style="font: inherit;">1940,</em> as amended.</p>
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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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6815525872">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Statements of Operations (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
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<tr>
<th class="th"><div>Mar. 31, 2020</div></th>
<th class="th"><div>Mar. 31, 2019</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 7,676,949<span></span>
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<td class="nump">$ 5,951,914<span></span>
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<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,676,949<span></span>
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<td class="nump">5,951,914<span></span>
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<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(7,676,949)<span></span>
</td>
<td class="num">(5,951,914)<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>
</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="nump">74,640<span></span>
</td>
<td class="num">(785,783)<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">(9,645,349)<span></span>
</td>
<td class="num">(42,268,535)<span></span>
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<tr class="ro">
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<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,570,709)<span></span>
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<td class="num">(43,054,318)<span></span>
</td>
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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_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">(1,423,211,664)<span></span>
</td>
<td class="num">(69,197,383)<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 loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,432,782,373)<span></span>
</td>
<td class="num">(112,251,701)<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_NetIncomeLoss', window );">Net decrease in net assets resulting from operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">$ (1,440,459,322)<span></span>
</td>
<td class="num">$ (118,203,615)<span></span>
</td>
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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_EarningsPerShareBasic', window );">Net decrease in net assets per Share (in dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">$ (3.69)<span></span>
</td>
<td class="num">$ (0.36)<span></span>
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<tr><td colspan="3"></td></tr>
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<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Net decrease in net assets per Share based on average shares outstanding during the period.</td>
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<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>
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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>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>
<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_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 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 2: 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> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 3: 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 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1448-109256<br><br>Reference 4: 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 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<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> -Subparagraph (a)<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 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 7: 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=120380238&amp;loc=d3e4984-109258<br><br>Reference 8: 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(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<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 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 10: 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 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 11: 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 12: 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(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: 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=121326447&amp;loc=d3e1252-109256<br><br>Reference 14: 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=121326447&amp;loc=SL5780133-109256<br><br>Reference 15: 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(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<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=121645371&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=120395209&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=121586364&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=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: 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> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: 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<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_OperatingExpenses">
<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>
</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_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>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<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_OperatingIncomeLoss</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_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>Amount of realized 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 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=120400993&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>Amount of 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 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&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>
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