Copper(I) triflate catalyzes the transformation of α‐[(2‐alkynyl)oxy]silyl‐α‐diazoacetates 1a–g into 1,2‐bis(2,5‐dihydro‐1,2‐oxasilol‐4‐yl)ethenes 2 and/or 2H‐1,2‐oxasilines 3. With rhodium(II) perfluorobutyrate as catalyst, 1a–e furnish only 3 but no 2. Bicyclic 2‐methoxyfurans 6 are formed when 1a,c,e (containing terminal alkyne functions) are treated with catalytic amounts of copper(I) chloride. The experimental observations are explained in terms of metal‐mediated intramolecular cyclopropenation and subsequent metal‐assisted ring‐opening of the strained bicyclic cyclopropene leading to vinylcarbene‐metal complexes. An unusual autoxidation of 2H‐1,2‐oxasilines 3a,c,e is also described.