placement should be the base ?, page-15

re: silver etf approved! As the articule says below this is just another step in
the process the ETF still has a few hurdles too jump before approval.

Silver ETF Takes Step Toward Trading

By Gregg Greenberg
TheStreet.com Staff Reporter
3/21/2006 2:39 PM EST
Click here for more stories by Gregg Greenberg

Updated from 2:02 p.m. EST



The proposed silver exchange-traded fund took a step toward public trading -- and silver prices had another big spike -- after the Securities and Exchange Commission approved a rule change allowing the fund to be listed on the Amex. Nevertheless, it's still too early to say "Hi Ho" to a silver ETF just yet.

Silver prices, which were already hovering at record highs in anticipation of the release of a silver ETF, jumped on the news of the Amex listing approval Tuesday. Silver for May delivery at the Comex division of the New York Mercantile Exchange was recently up 17 cents to $10.55 an ounce, the highest price since 1983.

Nevertheless, while today's ruling gives the silver ETF a place to trade, it doesn't mean it is cleared for takeoff.

"The S-1, which is the registration statement submitted by BGI, has not become effective yet with the SEC, so we are still in the quiet period of the registration and a launch date cannot be determined," says Christine Hudacko, spokeswoman for Barclays Global Investors, which is behind the creation of the silver ETF.

Officials at the SEC could also offer no further guidance on the potential launch date of the ETF. The SEC has, however, closed its public comment period on the fund.

"The Amex is glad to see the SEC make an important step toward making the iShares Sliver Trust available to the public, and we look forward to another BGI listing," says Cliff Weber, senior vice president of the ETF marketplace division of the American Stock Exchange.