Zerodha Fund House launches silver ETF, application starts at Rs 1,000

Zerodha Fund House on March 10 launched a silver exchange-traded fund (ETF), an open-ended scheme which will track the domestic prices of the metal.
The minimum investment amount is Rs 1,000 and the Zerodha Silver ETF will be open for subscription till March 18.

The objective is to generate returns in line with the performance of silver in the domestic market, subject to tracking error, the company said in a release.

"Silver has the potential to play a role in both investment portfolios and modern industries. With its dual identity as both an industrial metal and a precious metal, our silver ETF provides investors with a valuable tool to diversify their portfolios and capitalise on the metal's unique characteristics," Zerodha Fund House CEO Vishal Jain said.

Silver prices have risen significantly in the past several months. The precious metal is hovering near Rs 99,000 a kg.

Interested investors can apply by investing a minimum of Rs 1,000 and in multiples thereafter. The starting Net Asset Value (NAV) will be Rs 10 per unit.

Investors can apply for the scheme on Zerodha Coin and CAMS, the company said in a press release.