Subject: File No. SR-Amex-2005-072
From: Ferdinand Ledesma
Affiliation: none

January 26, 2006

I support the Silver ETF. As an investor I would like a convenient way to buy silver. I own the Gold ETF (GLD) and it has been a great way to buy gold. Silver deserves its own ETF in my opinion as that too will make it easier for investors such as myself to buy the metal without having to deal with the headaches of storage and insurance issues.