Each unit of an ETF is a security that represents equity ownership in a fund or trust that in turn holds physical silver with a bank or other depository. The fund or trust charges owners an annual fee to cover management, storage, marketing and administrative costs. Final beneficial owners do not directly own the underlying physical assets held by the fund/trust and in most circumstances cannot take physical delivery of those assets. With a VaultChain™ Silver account physical silver is owned directly by the final beneficiary, whose holdings are stored on a bailor-bailee basis with RCM and recorded in VaultChain™’s blockchain database; there is no trust or fund wrapper, which eliminates the associated management and administrative fees. The underlying assets are deliverable at the request of the final beneficiary(ies) through participating dealers.***