According to @KobeissiLetter, trading volume in iShares Silver Trust SLV surpassed a record 40 billion on Friday, while SPDR Gold Shares GLD daily volume also hit an all-time high of about 40 billion (source: @KobeissiLetter). The source describes silver and gold ETF volumes as parabolic this week in the largest silver- and gold-backed funds (source: @KobeissiLetter).

According to Eric Balchunas on X, iShares Silver Trust (SLV) posted trading volume that exceeded heavily traded stocks Tesla (TSLA) and Nvidia (NVDA) last week, underscoring exceptional turnover in silver exposure (source: Eric Balchunas on X). According to Eric Balchunas on X, he adds that SLV volume is roughly ten times higher than a month earlier and notes the fund was around the 170th largest ETF a year ago, highlighting how quickly interest has accelerated (source: Eric Balchunas on X). Based on the figures reported by Eric Balchunas on X, the volume spike implies elevated liquidity and tighter execution spreads in SLV, making short term momentum and position sizing key considerations for traders (source: Eric Balchunas on X).

According to @EricBalchunas, GLD and SLV each traded about 40 billion in turnover in a single session, setting all-time records and surpassing any individual stock, with TSLA the closest at an estimated 35 billion, source: @EricBalchunas. He added the pair are on pace to close the week with roughly 280 billion in cumulative volume, underscoring exceptional liquidity in precious metals ETFs, source: @EricBalchunas.

According to @KobeissiLetter, assets under management in the largest silver-backed ETF, SLV, have doubled to $50 billion in just 100 trading sessions. According to @KobeissiLetter, this is the second-fastest climb for any US ETF from $25 billion to $50 billion, underscoring exceptional demand for silver exposure. Based on @KobeissiLetter's data, traders may watch for heightened liquidity in SLV, tighter spreads, and potential spillover into silver futures and silver miners as momentum strategies track these inflows.

According to @KobeissiLetter, retail investors have driven iShares Silver Trust SLV holdings to 16,390 tonnes, the highest level since July 2022. Source: The Kobeissi Letter on X, December 30, 2025. Total silver held by the fund has increased by about 3,000 tonnes since February. Source: The Kobeissi Letter on X, December 30, 2025. SLV is identified as the largest physical-backed silver ETF, highlighting heavy retail participation in the silver market. Source: The Kobeissi Letter on X, December 30, 2025.