Fund Description: abrdn Physical Silver Shares ETF formerly ETFS Physical Silver Shares is under the abrdn Silver ETF Trust formerly the ETFS Silver Trust. The abrdn Silver ETF Trust is a common law trust and is not registered as an investment company under the Investment Company Act of 1940.<p> INVESTMENT OBJECTIVE: ETFS Physical Silver Shares seeks the Shares to reflect the performance of the price of silver bullion and designed to offer investors a simple, cost-efficient and secure way to access the precious metals market. abrdn Physical Silver Shares ETF is intended to provide investors with a return equivalent to movements in the silver spot price less fees. <p> TRUST DESCRIPTION: The BenchMark, London Silver Price, is the U.S. Dollar price of silver bullion for delivery in London. It is designed to be a price for settling contracts between members of the London bullion market. The London Silver Price is set once a day, at 12:00 GMT. Daily price quotes can be viewed at the London Bullion Market Association. Silver is priced in U.S. dollars per troy ounce. The largest industrial users of silver are the photographic, jewelry, and electronic industries and developments in these industries among other factors may influence the price of silver. Like gold, the silver market is a global marketplace consisting of both OTC transactions and exchange-traded products. The OTC market generally consists of transactions in spot, forwards, options and other derivatives, while exchange-traded transactions consist of futures and options. <p> TRUST STRATEGY: The Shares are designed to mirror as closely as possible the performance of the price of silver bullion, and the value of the Shares relates directly to the value of the silver held by the Trust, less the Trust’s liabilities (including estimated accrued but unpaid expenses). The price of silver has fluctuated widely over the past several years. Several factors may affect the price of silver including a change in economic conditions, such as a recession, can adversely affect the price of silver. Silver is used in a wide range of industrial applications and an economic downturn could have a negative impact on its demand and, consequently, its price and the price of the Shares; Investors’ expectations with respect to the rate of inflation; Currency exchange rates; Interest rates; Investment and trading activities of hedge funds, commodity funds; and Global or regional political, economic or financial events and situations. The Shares trade on an exchange like any other exchange-listed security. The Trust structure allows for shares to be created and redeemed according to supply and demand in the market. The silver bullion held by the trust is inspected biannually by the independent metal assayer, Inspectorate International. The pricing information, net asset value of the Trust, and silver bar numbers held by the Trust are published daily on the ETFS website. The shares are available to be bought or sold, like ordinary listed securities, throughout the trading day. The shares are eligible for margin accounts. <p> TRUST MANAGEMENT: The Bank of New York Mellon is the trustee of the Trust and is generally responsible for the day-to-day administration of the Trust.