SLV, iShares Comex Silver Trust The SLV was launched in April 2006 and currently has $6.9 billion in assets with 314 million ounces or 9,782.88 tons. Its expense ratio is 0.50%. Reportedly no more than 1,100 ounces can be unallocated at the end of each business day. Bank of New York Mellon is the trustee and JPMorgan is the custodian, no sub-custodians were listed. The silver is located in 5 vaults around London. The last inspection by Inspectorate International reported was in February 2010. The existing 308, 542 silver bars were of 99.90% to 99.99% purity. About 1% of the bars checked had a few branding and serial number issues but reportedly those have been rectified. Bank of America is the largest holder with 7.7 million shares followed by Aletheia Research and Morgan Stanley with 6 and 5.7 million, respectively.