Silver ETF units in India trade at 15-25% discount as bulk holders book profits

Silver-backed ETFs listed on Indian exchanges are now trading at discounts of 15-25% to spot silver prices following a sharp correction. The phenomenon, reported around 24 October 2025, stems from bulk holders redeeming units amid price pull-back and shifting investment flows. Analysts note this discount signals a re‐pricing of investor returns in bullion-linked products, and could prompt redemptions or a rebalancing of portfolios away from metal-fund vehicles. For investors, the gap between ETF and spot may present arbitrage or caution opportunities.