Nippon Silver ETF Tops Leverage Bets, Outperforming HAL Before Silver Crash

• Nippon AMC Silver ETF became the asset with the highest leverage on the Margin Trading Facility (MTF) book, surpassing Hindustan Aeronautics Ltd (HAL).
• As of January 30, 2026, Nippon Silver ETF's net leveraged position was ₹1,748.3 crore, compared to HAL's ₹1,442 crore.
• Leveraged bets on Silver ETFs continuously increased, with Nippon Silver ETF's leveraged bet jumping from ₹472 crore in early December 2025 to ₹1,178 crore by January 22.
• Global silver prices crashed by 37% on Friday, January 30, a record decline, with spot silver struggling to hold the $80 level after reaching over $120.
• The crash impacted Indian markets, with Nippon Silver ETF falling 12% and other silver-related ETFs slipping 9-15%; metal stocks lost ₹2 lakh crore in market cap.

Why It Matters: Nippon Silver ETF saw record leverage before a massive silver price crash, highlighting risks in commodity investments.