Tight Silver Supply Sparks Yield Opportunities with Theo’s New Tokenized Product

Theo has launched thSLVR, a tokenized silver product giving investors exposure to physical metal while earning yields from leasing it to industrial users. The rollout started with more than $50 million in silver leases, with income generated directly from physical leasing rather than platform trading fees.

Silver supplies remain tight, as roughly 83% of London vault holdings sit in investment products, leaving only 136 million ounces available for trading and leasing. Three-month lease rates stand near 2.3% annually, several times above pre-2025 norms, noted CIO Iggy Ioppe.

Co-founder Abhi Pingle explained the product uses ultra-short-duration credit so yields track SOFR rates, with metal custodied at StoneX. Strong industrial demand, especially from solar expansion, underpins long-term fundamentals for the asset.