iShares Physical Silver ETC (IE00B4NCWG09.IR) is an exchange-traded commodity (ETC) that provides investors with physical exposure to the price performance of silver bullion. Issued by iShares, a brand of BlackRock Institutional Trust Company, National Association, the ETC holds physical silver bars in a secure vault in London, United Kingdom; it tracks the LBMA Silver Price and offers creation and redemption of shares backed by allocated physical silver stored on a segregated basis. The product caters to investors seeking a convenient, liquid alternative to direct ownership of physical silver, with low total expense ratio and tax-efficient structure under Irish domiciliation; it is listed on the Irish Stock Exchange and traded on various European exchanges including London Stock Exchange and Deutsche Boerse.
Headquartered in Dublin, Ireland, with BlackRock's global operations spanning North America, Europe, Asia-Pacific, and other regions, the ETC was launched in 2009 as part of iShares' suite of physically backed commodity products targeting institutional and retail investors in precious metals markets. The fund's silver holdings are audited regularly by Inspectorate International Limited, ensuring transparency and compliance with industry standards for collateral management.
In recent developments, BlackRock announced enhancements to its iShares commodity ETC range in 2024, including improved liquidity provisions through expanded authorized participants and integration with digital trading platforms; additionally, the firm completed the acquisition of Global Infrastructure Partners in October 2024, bolstering its resources for ETF product innovation and distribution. No major name changes, reorganizations, or silver-specific partnerships were reported in 2025, though BlackRock continues strategic expansions in sustainable and commodity-linked ETFs amid volatile precious metals markets.