Tokenized silver: metal tokens vs silver trust tokens
Compare SLVx, SLVon, and other indexed silver products by backing, units, redemption, and network coverage.
Start with what backs the token
SLVx is a tracker certificate referencing iShares Silver Trust. SLVon references the same trust through Ondo’s product structure. This adds a securities product between the token and the metal. The SLVx product record and SLVon product record are the starting points for those terms.
Other catalog entries describe physical silver. Check each product’s weight unit, ownership arrangement, vault evidence, and delivery terms. A gram-based token and a trust-linked token should not be compared as if their prices represent the same quantity.
| Token | Backing recorded | Networks | Evidence |
|---|---|---|---|
| SLVxxStocks | Tracker certificate backed by shares of iShares Silver Trust | Ethereum, Solana, Arbitrum, BNB Chain | xStocks issuer page |
| SLVonOndo | Fully backed by iShares Silver Trust shares held through registered broker-dealers | Ethereum, BNB Chain, Solana | Ondo asset page |
| TXAGAurus | Physical silver held in insured and audited vaulting facilities | Ethereum | RWA.xyz asset registry |
| DSCNDenario | Physical silver ownership represented through the Denario platform | Polygon | RWA.xyz asset registry |
| AUXSAuxite | One token represents one gram of allocated physical silver | Base | RWA.xyz asset registry |
| AZSAZ Reserves Ltd | Wallet-distributed tokenized exposure to Silver | Ethereum | RWA.xyz asset registry |
The table reproduces the current catalog. Some records are supported by registry entries, as labeled; those entries do not independently verify the issuer’s backing claims.
Three questions before comparing a quote
- What does one token represent: grams, ounces, or exposure to trust shares?
- Can you redeem through the issuer, and for what? Check minimums, identity requirements, delivery geography, and fees.
- Can you sell on your chosen network? Inspect the actual trading pair, size, and quote rather than relying on a catalog listing.
For trust-linked products, read the underlying fund’s expenses and the token wrapper’s terms. For physical-metal products, inspect storage and delivery costs. An absence of a quoted fee on this page means it has not been established here.
Open the silver asset page to inspect token market data. For the equivalent gold comparison, read PAXG vs XAUT.