Key facts
- Silver was added to the U.S. government's 2025 List of Critical Minerals.
- The list is updated at least every two years to reflect evolving circumstances.
- The Sprott Silver Miners & Physical Silver ETF (SLVR) seeks to track the Nasdaq Sprott Silver Miners™ Index (NSLVR™).
- The NSLVR™ Index includes silver producers, developers, explorers, and physical silver.
- Companies must meet specific eligibility requirements, including a Silver Intensity Score of at least 25% and a free float market capitalization of at least $30 million.
Silver has been officially recognized for its strategic importance with its inclusion on the U.S. government's 2025 List of Critical Minerals. The U.S. Geological Survey (USGS) updated its list, adding silver along with nine other minerals such as copper, lead, and uranium, citing their essential role in industries worth trillions of dollars and the risks associated with import dependence. This marks the third iteration of the list, initiated under a 2017 Executive Order aimed at strengthening mineral security.
The USGS developed the 2025 list using updated methods to assess potential supply disruptions and their impact on the U.S. economy and national security. The list is dynamic and subject to updates at least every two years. Rare earth elements were specifically highlighted for their critical role in advanced technologies and defense systems, with the U.S. importing 80% of its supply in 2024. The administration has been investing in domestic production and securing international partnerships to bolster supply chains.
For investors seeking exposure to silver, the Sprott Silver Miners & Physical Silver ETF (SLVR), launched on January 15, 2025, offers a potential avenue. The ETF aims to mirror the performance of the Nasdaq Sprott Silver Miners™ Index (NSLVR™), which tracks companies involved in silver production, development, and exploration, as well as physical silver. Eligibility for the index requires companies to meet criteria such as a minimum Silver Intensity Score of 25% and a free float market capitalization of at least $30 million, with specific weighting processes in place for constituents and physical silver.