{"id":6755,"date":"2026-02-03T00:45:34","date_gmt":"2026-02-03T05:45:34","guid":{"rendered":"https:\/\/www.inflation.us\/news\/?p=6755"},"modified":"2026-02-03T00:56:51","modified_gmt":"2026-02-03T05:56:51","slug":"nia-update-on-gold-silver-etf-ownership","status":"publish","type":"post","link":"https:\/\/www.inflation.us\/news\/articles\/nia-update-on-gold-silver-etf-ownership\/","title":{"rendered":"NIA Update on Gold & Silver ETF Ownership"},"content":{"rendered":"\n
\n

If you assumed that iShares Silver Trust (SLV) ownership<\/span><\/strong> must have hit new all-time highs<\/strong><\/span> last week… you would be completely wrong<\/strong><\/span>. Surprisingly, SLV ownership<\/span><\/strong> hit a medium-term<\/span> peak<\/span><\/strong> on December 22nd<\/strong> of 588.45 million shares outstanding<\/strong> and has since declined by 6.45%<\/strong><\/span> to only 550.50 million shares outstanding<\/strong>. SLV ownership<\/span><\/strong> reached an all-time high<\/strong><\/span> back on February 2, 2021, of 729.1 million shares outstanding<\/strong>, and has since declined by 24.50%<\/strong><\/span>.<\/p>\n\n

\"SLV<\/p>\n\n

If you assumed that SPDR Gold Shares (GLD) ownership<\/span><\/strong> must have hit new all-time highs<\/strong><\/span> last week… you would be completely wrong<\/strong><\/span>. Shockingly, GLD<\/strong> currently has 380.1 million shares outstanding<\/strong>, which remains slightly below<\/strong><\/span> its medium-term<\/span> peak<\/span><\/strong> from back on April 19, 2022<\/strong>, of 381.3 million shares outstanding<\/strong>… approximately six weeks after gold<\/strong><\/span> hit a March 8, 2022, "double-top<\/span>"<\/strong> of $2,070 per oz<\/strong><\/span>.<\/p>\n\n

In fact, after gold<\/strong><\/span> initially topped out<\/strong><\/span> on August 7, 2020, at $2,075 per oz<\/strong><\/span>, GLD ownership<\/span><\/strong> peaked<\/strong><\/span> on September 21, 2020, at 437.8 million shares outstanding<\/strong>… slightly below GLD’s all-time high ownership<\/span><\/strong> of 449 million shares outstanding<\/strong> set on December 7, 2012. GLD ownership<\/span><\/strong> remains 13.18% below<\/strong><\/span> its 2020 high and 15.35% below<\/strong><\/span> its 2012 all-time high!<\/p>\n\n

\"GLD<\/p>\n\n

The largest<\/span> gold miner<\/span> ETF<\/strong> is VanEck Gold Miners (GDX)<\/strong> and its ownership<\/strong><\/span> currently sits near record lows<\/strong><\/span> with only 307.8 million shares outstanding<\/strong>!<\/p>\n\n

On September 19th, GDX ownership<\/span><\/strong> hit a new 9-year low<\/strong><\/span> of 289.6 million shares outstanding<\/strong> and has since increased by 6.28%<\/strong><\/span>, but remains down by 14.13%<\/strong><\/span> from a year ago. From its April 4, 2024 level of 427.7 million shares<\/strong>, ownership has declined by 28.03%<\/strong><\/span> in just 22 months.<\/p>\n\n

\"GDX<\/p>\n\n

The second largest<\/span> gold miner<\/span> ETF<\/strong> is VanEck Junior Gold Miners (GDXJ)<\/strong>, with ownership<\/strong><\/span> sitting near decade lows<\/strong><\/span> at just 83.19 million shares outstanding<\/strong>.<\/p>\n\n

From its April 3, 2024 level of 118.59 million shares<\/strong>, GDXJ ownership<\/span><\/strong> has collapsed by 29.85%<\/strong><\/span> in 22 months and now sits 49.13% below<\/strong><\/span> its August 2018 all-time high of 163.54 million shares<\/strong>.<\/p>\n\n

\"GDXJ<\/p>\n<\/div>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

If you assumed that iShares Silver Trust (SLV) ownership must have hit new all-time highs last week… you would be completely wrong. Surprisingly, SLV ownership hit a medium-term peak on December 22nd of 588.45 million shares outstanding and has since declined by 6.45% to only 550.50 million shares outstanding. SLV ownership reached an all-time high […]<\/p>\n","protected":false},"author":1,"featured_media":6761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[28,9,17],"class_list":["post-6755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-etfs","tag-gold","tag-silver"],"_links":{"self":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/6755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/comments?post=6755"}],"version-history":[{"count":1,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/6755\/revisions"}],"predecessor-version":[{"id":6758,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/6755\/revisions\/6758"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/media\/6761"}],"wp:attachment":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/media?parent=6755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/categories?post=6755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/tags?post=6755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}