白银市场正在经历一场历史性的狂飙，其剧烈的价格波动与极端的散户参与度，使其呈现出类似Meme 股的市场特征。 据道琼斯市场数据显示，周一全美市场成交最活跃的两只标的均为白银ETF。其中，排在首位的是 ProShares UltraShort Silver ETF，其换手量接近8亿股，表明在银价飙升之际，大量投资者正押注这波 涨势将迅速降温。紧随其后的是iShares Silver Trust，成交量超过3.77亿股。 这种极端的交易活动伴随着标的资产价格的暴涨。自2025年1月1日以来，白银期货已累计上涨230%。 这一涨幅不仅远超黄金、铂金和钯金，更引发了与白银相关的ETF及期权合约交易量飙升至历史最高水 平。与此同时，社交媒体关注度飙升至2011年以来最高。 市场策略师指出，尽管白银具有工业用途，但近期价格的剧烈波动已脱离基本面，更多是由动能和公众 情绪驱动。分析人士将其与GameStop等Meme股现象相提并论，认为这种忽视基本面的疯狂买入行为， 反映了当前市场中一旦趋势形成、资金便会迅速跟风涌入的投资生态。 ETF交易量刷新纪录 随着白银涨势激起散户投资者的强烈兴趣，相关ETF的交易量在周一呈现爆炸式 ...

Group 1 - Retail investors are rapidly purchasing silver, making it the most crowded commodity trading target in the current market, with a total inflow of $921.8 million into silver-linked ETFs over the past 30 days [2] - The iShares Silver Trust ETF recorded a single-day retail inflow of $69.2 million on January 14, marking the second-highest single-day inflow since 2021 [2] - The iShares ETF has seen a year-to-date increase of 31.3% and a 12-month cumulative increase of 210.9%, with silver prices reaching $91.90 per ounce on January 15 [2] Group 2 - The current silver market differs significantly from the 2021 bull market, which was driven by meme stocks; the current rise is supported by more solid and specific logic [3] - Vanda Research emphasizes that the current accumulation of funds has surpassed the peak levels seen in 2021, suggesting that silver should be viewed as a "core macro trading asset" rather than a short-term speculative target [3] - Retail investors are not only actively investing in long products but are also significant participants in the ProShares UltraShort Silver ETF, which offers returns equivalent to double the daily decline in silver prices [3]