Silver surpasses Nvidia to become the second-largest asset globally, with a safe-haven shift behind $4.63 trillion

According to the latest news, the market value of silver has reached $4.63 trillion, successfully surpassing NVIDIA to become the second-largest asset globally, only behind gold’s $31.34 trillion. This data not only reflects the rising prices of precious metals but also indicates a deep shift in global capital driven by risk-averse sentiment.

Silver’s Record-Breaking Market Value Ranking

Changes in the rankings of the three major assets

Based on the latest data, the ranking of the most valuable assets worldwide has undergone significant changes:

What does this ranking change mean? Silver is no longer just an industrial metal or an investment asset; it is now comparable to the world’s most dominant tech companies. Notably, NVIDIA’s market value soared in recent years due to explosive demand for AI chips, making it one of the highest-valued companies globally. Silver surpassing it indicates that the appeal of precious metals has reached a new level.

The true reflection of price rally

This ranking shift did not happen out of thin air. According to relevant information, silver prices have recently performed strongly, breaking above $78 per ounce, with intraday gains exceeding 2%. The New York silver futures even rose by 2.00% intraday. Meanwhile, gold is also rising in tandem, with spot gold surpassing $4,365 per ounce.

This wave of gains in precious metals has lasted for quite some time. Industry observers point out that although precious metals have not seen significant increases over the past decade, recent surges are attracting increasing institutional attention.

The driving forces behind it: rising risk aversion

Geopolitical tensions as a key variable

According to 21Shares strategist Matt Mena, escalating geopolitical tensions are driving investors toward safe-haven assets such as cryptocurrencies and precious metals. While this view mainly targets Bitcoin, it also applies to silver and gold — in times of rising uncertainty, investors tend to prefer “neutral” reserve assets.

The characteristics of silver and gold are precisely this neutrality. They are not controlled by any single country or corporation and possess natural safe-haven properties. When geopolitical risks escalate, these assets naturally become capital refuges.

From traditional assets to safe-haven assets

An interesting observation is that signs of capital flowing from precious metals into the crypto market are emerging. According to relevant information, the cumulative trading volume of US stock crypto spot ETFs has exceeded $2 trillion, and Bitcoin attracted approximately $1.2 trillion in fiat inflows throughout 2025. This indicates that although precious metals are rising, signs of profit-taking are already appearing.

In other words, the record-breaking market value of silver is not only a reflection of risk-averse demand but also part of a reallocation of capital among different safe-haven assets.

What does this ranking change indicate?

Impact on traditional asset rankings

NVIDIA’s market value being overtaken by silver was unimaginable a few years ago. It reflects an important phenomenon: against the backdrop of rising geopolitical and economic uncertainties, the valuation logic of traditional tech stocks is being reevaluated. It’s not that NVIDIA is no longer valuable, but that the appeal of precious metals as ultimate safe-haven assets is increasing.

Investment implications

This data offers a clear message to investors: do not underestimate the role of safe-haven assets in your portfolio. While mainstream narratives focus on technology, innovation, and growth, the ranking of silver and gold reminds us — in uncertain times, holding some ultimate safe-haven assets is necessary.

This also explains why seasoned investors like Ray Dalio have started advocating for gold allocation in 2024, and recently, some have begun to allocate to Bitcoin as well. They see not just price opportunities but a deep structural change in asset allocation.

Summary

Silver’s market value of $4.63 trillion surpassing NVIDIA to become the second-largest global asset is not just a numerical ranking change but a reflection of global capital shifting toward safe-haven assets amid rising geopolitical risks. The surge of precious metals after a long period of stagnation signifies investors’ reevaluation of assets with certainty.

For market participants, the core takeaway from this phenomenon is: in the current environment, the allocation weight of safe-haven assets deserves re-evaluation. Whether in precious metals or cryptocurrencies, this influx of liquidity tells us — in times of uncertainty, the value of ultimate safe-haven assets is being re-priced.