The Saudi Central Bank has reportedly taken a significant position in the iShares Silver Trust (NYSE: SLV) ETF, according to market analysis, in what appears to be an unprecedented move by a central bank to gain silver exposure through an exchange-traded fund.
The purchase, reportedly executed August 14, 2025, represents a departure from traditional central bank strategies that have focused primarily on gold and foreign currencies. The Saudi Arabian Monetary Authority (SAMA), which manages over $700 billion in foreign holdings, has not publicly disclosed the size of its position.
This comes after Russia disclosed plans to include silver in its State Reserve Fund from 2025 through 2027, earmarking roughly $538 million per year for precious metals acquisitions that will include silver.
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Saudi Arabia reportedly made its purchase as silver market deficits persist for a fifth consecutive year. Industrial consumption hit 680.5 million ounces in 2024, with solar manufacturing and electric vehicle production driving demand.
Market data shows the SLV ETF has experienced outflows of 36 million shares since January, equivalent to roughly 33 million ounces. London vault operators report increasingly tight physical silver supplies and elevated storage rates.
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