“It’s been quite a week for the folks at ETF Securities (ETFS), one of the preeminent ETF sponsors in Europe that recently made the long jump across the pond to enter into the U.S. market. Last Friday ETFS launched its Silver Trust (SIVR), a bullion-backed trust that is expected to compete directly with iShares’ SLV, and the company rang the bell on the NYSE on Tuesday. Most new ETPs struggle to gain their footing coming out of the gate, but SIVR has had no problems establishing sufficient liquidity right from the get-go,” Michael Johnston Reports From ETF Database.

“ETFS rang the bell on the NYSE on Tuesday, and SIVR proceeded to trade nearly 250,000 shares that day. Volume was again above 200,000 on Wednesday and the fund’s average daily volume over its first five trading days topped 120,000. Typically, new ETFs take months to establish the level of liquidity that SIVR has managed to generate in only a few days,” Johnston Reports.

“While SIVR remains significantly smaller than its main rival (SLV has a market cap of about $3.8 billion and a three month average volume of nearly 9 million shares), its first week performance indicates that the fund (and its issuer) likely have a bright future ahead,” Johnston Reports.

A look at the average daily trading volumes for several recently-launched ETFs over their first five days:

Full Story: HERE

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ETF BASIC NEWS, SIVR