Xtrackers Launches New Silver-Backed ETC Securities Maturing in 2080

Xtrackers ETC plc (XGDU), a special purpose vehicle under DWS's Xtrackers platform, has announced the issuance of 3,700 new ETC Securities as part of Tranche 127 of its Series 4 Physical Silver EUR Hedged ETC Securities. The securities, set to mature on 15 May 2080, are physically backed by silver and denominated in euros, with currency exposure to the US dollar hedged at the product level. The issue price per security is EUR 64.351465, with each security entitling investors to 1.184547729 fine troy ounces of silver as of the subscription trade date on 2 October 2026.

The issuance increases the total Series 4 securities outstanding to 1,157,013, within a maximum programme capacity of 100 billion securities. The programme’s steady expansion reflects ongoing institutional demand for silver exposure combined with EUR currency hedging. Investors should monitor ongoing series issuances, J.P. Morgan SE’s role as series counterparty and account bank, and silver price fluctuations impacting metal entitlement valuations.

J.P. Morgan SE has been appointed as the series counterparty and account bank for this tranche, while JPMorgan Chase Bank, N.A., London Branch, acts as the metal agent. Physical silver backing the securities is held on an allocated basis, ensuring segregation of specific physical metal from other client assets. However, minor amounts may be held unallocated, which could pose a structural risk for investors.

As of September 2025, Xtrackers ETC plc’s balance sheet reported total assets of USD 9.44 billion, up from USD 6.75 billion in September 2024. The ETC Securities carry a base fee of 0.38% per annum and a separate FX hedging fee of 0.35% per annum, both accruing daily through a reduction in metal entitlement per security. The Final Terms warn that investors may lose all or part of their invested capital, especially if metal sale proceeds fall below the minimum debt principal amount.