Mirae Asset Global Investments said on the 28th that it will newly list the "TIGER Silver Active exchange-traded fund (ETF)," which tracks the spot price of silver, on the Korea Exchange (KRX).
TIGER Silver Active ETF is an ETF that can invest in silver spot in a fund of funds format based on the "ICE Silver Spot Index," which tracks the international spot price of silver.
Unlike silver futures ETFs listed domestically, it features a low-cost structure with no rollover expense arising from rolling futures at expiration.
With this listing, Mirae Asset Global Investments has built a lineup of three spot ETFs—gold, silver, and copper—becoming the only domestic asset manager to do so, including "TIGER KRX Gold Spot ETF," "TIGER Copper Physical ETF," and now "TIGER Silver Active ETF."
It can also be invested up to 100% in individual retirement pension accounts and up to 70% in defined contribution (DC) and individual retirement pension (IRP) accounts.
Kim Nam-ho, head of Global ETF Management at Mirae Asset Global Investments, said, "In a phase of increasing volatility in the asset market, silver is an asset that simultaneously has the characteristics of a safe-haven precious metal and growth potential as an advanced industrial material," adding, "TIGER Silver Active ETF is a means to invest in silver spot at low cost without rollover expense and is also suitable for long-term investment using pension accounts."