BTCO on CBOE

Invesco Galaxy Bitcoin ETF

American commodity contracts brokers and dealers company based in Atlanta2

In its 2026 annual report the company says: “Invesco Galaxy Bitcoin ETF is a Delaware statutory trust, formed on April 5, 2021 pursuant to the Delaware Statutory Trust Act.”5 Its shares trade on CBOE under the symbol BTCO.2

$81.85 up 0.65 (0.80%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 20, 2026.

Overview

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  • TickerBTCO on CBOE2
  • IndustryCommodity Contracts Brokers & Dealers2
  • HeadquartersAtlanta, United States2
  • Incorporated inDE4
  • Business address107 Grand Street, 8Th Floor, New York, Ny 100134
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company4
  • Legal formFund2
  • Kind of organizationFund2
  • LEI549300GLSWMRZKZH4Y512
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O CSC DELAWARE TRUST COMPANY, 19808 Wilmington, United States2
  • Registered withSecurities and Exchange Commission, 00018557812

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Invesco Galaxy Bitcoin ETF (the “Trust”) is a Delaware statutory trust, formed on April 5, 2021 pursuant to the Delaware Statutory Trust Act (“DSTA”). The Trust continuously issues common shares representing fractional undivided beneficial interest in and ownership of the Trust. The Trust operates pursuant to its Second Amended and Restated Declaration of Trust and Trust Agreement, dated as of January 5, 2024 (the “Trust Agreement”). Delaware Trust Company, a Delaware trust company, is the Delaware trustee of the Trust (the “Trustee”). The Trust is managed and controlled by Invesco Capital Management LLC (the “Sponsor”). The Trust commenced trading on the Cboe BZX Exchange Inc. (the “Exchange”) on January 11, 2024. The Trust has an unlimited number of shares authorized for issuance.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

55.8%Return on equity6

Financial statements

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Total Income$0$0
Sponsor Fees$1.5M$1.2M
Total Expenses$1.5M$1.2M
Less: Waivers$0-$480.7K
Net Expenses$1.5M$719.3K
Net Investment Income (Loss)-$1.5M-$719.3K
Investments in Bitcoin Sold to Pay Sponsor Fee$49.3K-$25.4K
Investments in Bitcoin Sold for Redemptions$62.3M$60.3M
Net Realized Gain (Loss)$62.4M$60.3M
Net Change in Unrealized Gain (Loss) from Investments in Bitcoin-$133.2M$346.6M
Net Realized and Net Change in Unrealized Gain (Loss) from Investments in Bitcoin-$70.8M$406.9M
Net Income (Loss)-$72.3M$406.1M

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What it owns

What Invesco Galaxy Bitcoin ETF reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Properties, in its own words

The Trust does not own or use physical properties in the conduct of its business. The Sponsor’s headquarters are located at 3500 Lacey Road, Suite 700, Downers Grove, Illinois 60515.

Item 2 of the 10-K filed Mar 2, 2026.5

Subsidiaries and ownership

Fund manager

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Former names

  • Galaxy Bitcoin ETFApr 12, 2021 to Apr 12, 20214

Timeline

  1. Aug 3, 20268-K Executive or director change13
  2. Jun 8, 20268-K Executive or director change14
  3. Aug 2, 20248-K Executive or director change15
  4. Jan 29, 20248-K Other events16
  5. Apr 5, 2021Founded Invesco Galaxy Bitcoin ETF is founded2

Filings

51 filings to the SEC since October 2021: 3 annual reports, 8 quarterly reports, 4 major events, 36 other. The latest 20:

  1. Aug 7, 202610-Q EDGAR
  2. Aug 3, 20268-K EDGAR
  3. Jun 8, 20268-K EDGAR
  4. May 7, 202610-Q EDGAR
  5. Mar 27, 2026424I EDGAR
  6. Mar 2, 202610-K EDGAR
  7. Dec 16, 2025EFFECT EDGAR
  8. Dec 16, 2025424B3 EDGAR
  9. Dec 15, 2025POS AM EDGAR
  10. Nov 7, 202510-Q EDGAR
  11. Aug 7, 202510-Q EDGAR
  12. May 8, 202510-Q EDGAR
  13. Apr 14, 2025EFFECT EDGAR
  14. Apr 14, 2025424B3 EDGAR
  15. Apr 4, 2025POS AM EDGAR
  16. Mar 26, 2025424I EDGAR
  17. Feb 28, 202510-K EDGAR
  18. Nov 7, 2024424B3 EDGAR
  19. Nov 7, 202410-Q EDGAR
  20. Aug 7, 2024424B3 EDGAR

The 51 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 50. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Galaxy Digital Inc.725,000$42.3M6.7%No change
Susquehanna International Group, Llp316,862$18.5M0.0%−363,980
Wells Fargo & Company/mn220,083$12.9M0.0%−37,532
Cresset Asset Management, LLC172,095$10.1M0.0%No change
LPL Financial LLC93,104$5.4M0.0%−754
Farringdon Capital, Ltd.84,616$4.9M2.4%+10,596
Meitav Investment House Ltd62,673$3.7M0.0%+15,305
First Trust Advisors LP50,654$3.0M0.0%−10,738
Cetera Investment Advisers35,582$2.1M0.0%−10,094
Tolleson Wealth Management, Inc.21,530$1.3M0.2%No change
Quadrature Capital Ltd12,617$736.8K0.0%New
WCG Wealth Advisors LLC11,459$669.2K0.0%New
Key Client Fiduciary Advisors, LLC9,957$581.5K0.2%−15,104
Brookstone Capital Management9,552$557.8K0.0%−202
RM Financial Services, LLC9,296$542.9K0.4%−548
Private Advisor Group, LLC8,948$522.6K0.0%+2,314
Envestnet Asset Management Inc8,164$476.8K0.0%+681
Venture Visionary Partners LLC7,100$414.6K0.0%No change
Great Valley Advisor Group, Inc.6,000$350.4K0.0%No change
Milestone Asset Management Group, LLC5,884$343.6K0.2%−41
Financial Security Advisor, Inc.3,952$230.8K0.0%−210
Geneos Wealth Management Inc.2,574$150.3K0.0%No change
Morgan Stanley2,040$119.1K0.0%−1,852
Integrated Wealth Concepts LLC1,759$102.7K0.0%New
Towarzystwo Funduszy Inwestycyjnych Pzu Sa1,690$98.7K0.0%−200

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Invesco Galaxy Bitcoin ETF is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARInvesco Galaxy Bitcoin ETF1
  • CIK0001855781
  • Employer ID (EIN)88-61559785
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
  • Business address107 Grand Street, 8Th Floor, New York, NY 100131
  • Phone212-390-92161
  • Shares outstanding5,370,000 as of Jun 30, 202610
  • Public float$558.8M as of Jun 30, 20255
  • AuditorPricewaterhouseCoopers LLP, Chicago, Illinois PCAOB ID 238; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceApr 12, 20211
  • Filings54 in all: 10-Q (8), 424B3 (8), CORRESP (8), S-1/A (6), UPLOAD (5), 8-K (4), 10-K (3), CERT (3)1
    All 13 form types

    EFFECT (3), 424I (2), POS AM (2), 8-A12B (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Latest 8-K (8-K) Aug 3, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares of Beneficial InterestBTCOCboe BZX Exchange, Inc.

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Invesco Galaxy Bitcoin ETF names in Item 1A of its 10-K filed Mar 2, 2026: 70 risks under these headings, as written.5

  • Cash Creations and Redemptions.
  • Risks Related to Bitcoin
  • Market and Volatility Risk.
  • Bitcoin’s historical volatility may be due to speculation regarding potential future appreciation in value, which could adversely affect an investment in the Shares.
  • Some market observers have asserted that the bitcoin market often experiences pricing “bubbles” and have predicted that, in time, the value of bitcoin will fall to a fraction of its current value, or even to zero.
  • The price of bitcoin may be impacted by the behavior of a small number of influential individuals or companies.
  • Adoption Risk
  • User adoption of bitcoin may slow down, stop, or reverse.
  • Currently, there is relatively limited use of bitcoin in the retail and commercial marketplace in comparison to relatively extensive use as a store of value, thus contributing to price volatility that could adversely affect an investment in the Shares.
  • Bitcoin faces significant scaling obstacles that can lead to high fees or slow transaction settlement times, and attempts to increase the volume of transactions may not be effective.
  • Miners could collude to raise transaction fees, which may adversely affect the usage of the Bitcoin network.
  • Bitcoin mining activities are resource-intensive, and it is possible that certain jurisdictions will implement regulations regarding the energy and water consumption of the Bitcoin network, which could result in a significant reduction in mining activity and adversely affect the security of the Bitcoin network.
The other 60 risks
  • Competition from central bank digital currencies (“CBDCs”) and other digital assets could adversely affect the value of bitcoin and other digital assets.
  • Competing digital assets may adversely affect the value of bitcoin and digital assets.
  • Prices of bitcoin may be affected due to stablecoins (including Tether and U.S. Dollar Coin (“USDC”)), the activities of stablecoin issuers and their regulatory treatment.
  • The open-source structure of the Bitcoin network protocol means that certain core developers and other contributors may not be directly compensated for their contributions in maintaining and developing the Bitcoin network protocol. A failure to properly monitor and upgrade the Bitcoin network protocol could damage the Bitcoin network.
  • Lack of clarity in the corporate governance of bitcoin may lead to ineffective decision-making that slows development or prevents the Bitcoin network from overcoming important obstacles.
  • If the award of new bitcoin for solving blocks and transaction fees for recording transactions are not sufficiently high to incentivize miners, miners may cease expending processing power to solve blocks and confirmations of transactions on the Bitcoin blockchain could be slowed temporarily. A reduction in the processing power expended by miners on the Bitcoin network could increase the likelihood of a malicious actor or botnet obtaining control.
  • To the extent that any miners exclude some or all transactions, significant increases in fees and widespread delays in the recording of transactions could result in a loss of confidence in the Bitcoin network, which could adversely impact an investment in the Shares.
  • A temporary or permanent blockchain “fork” could adversely affect an investment in the Shares.
  • Cybersecurity Risk Related to Bitcoin
  • Flaws in the source code of Bitcoin, or flaws in the underlying cryptography, could leave the Bitcoin network vulnerable to a multitude of attack vectors.
  • Bitcoin transactions are irrevocable and stolen or incorrectly transferred bitcoin may be irretrievable. As a result, any incorrectly executed bitcoin transactions could adversely affect an investment in the Trust.
  • Security threats to the Trust’s account with the Bitcoin Custodian could result in the halting of Trust operations and a loss of Trust assets or damage to the reputation of the Trust, each of which could result in a reduction in the price of the Shares.
  • If the Bitcoin Custody Agreement is terminated or the Bitcoin Custodian or Prime Broker fail to provide services as required, the Sponsor may need to find and appoint a replacement custodian and/or prime broker, which could pose a challenge to the safekeeping and safe transfer of the Trust’s bitcoins, and the Trust’s ability to continue to operate may be adversely affected.
  • Loss of a critical banking relationship for, or the failure of a bank used by, the Execution Agent could adversely impact the Trust’s ability to create or redeem Creation Baskets, or could cause losses to the Trust.
  • The Execution Agent may utilize the services of the Prime Broker to route Trust orders through certain Connected Trading Venues. The loss or failure of any such Connected Trading Venues may adversely affect the Execution Agent’s ability to execute the Trust’s bitcoin transactions and cause losses for the Trust.
  • A disruption of the internet may affect the use of bitcoin and subsequently the value of the Shares.
  • Regulatory Risk
  • As bitcoin and the broader digital assets ecosystem has grown, it has begun to attract more regulatory attention around the globe. The future regulatory environment is uncertain and may vary by country or even within countries. Failure to appropriately regulate the digital assets ecosystem could stifle innovation, which could adversely impact the value of the Shares.
  • As an owner of Shares, you will not have the rights normally associated with ownership of other types of shares.
  • The Sponsor and the Trustee may agree to amend the Trust Agreement without the consent of the Shareholders.
  • Shareholders do not have the protections associated with ownership of Shares in an investment company registered under the 1940 Act or the protections afforded by the Commodity Exchange Act (the “CEA”).
  • The exclusive jurisdiction for certain types of actions and proceedings and waiver of trial by jury clauses set forth in the Trust Agreement may have the effect of limiting a Shareholder’s rights to bring legal action against the Trust and could limit a purchaser’s ability to obtain a favorable judicial forum for disputes with the Trust.
  • As the Sponsor and its management have limited history of operating investment vehicles like the Trust, their experience may be inadequate or unsuitable to manage the Trust.
  • Future regulations may require the Trust and the Sponsor to become registered, which may cause the Trust to liquidate.
  • The tax treatment of bitcoin and transactions involving bitcoin for U.S. federal income tax purpose is uncertain and may change, which could adversely affect the value of an investment in the Shares.
  • The tax treatment of bitcoin and transactions involving bitcoin for state and local tax purposes is uncertain and may change, which could adversely affect the value of an investment in the Shares.
  • A hard “fork” or airdrop of the Bitcoin blockchain could result in Shareholders incurring a tax liability.
  • A U.S. Tax-Exempt Shareholder may recognize “unrelated business taxable income” as a consequence of an investment in the Shares.
  • Intellectual property rights claims may adversely affect the operation of the Bitcoin network.
  • Risks Related to the Markets and Service Ecosystems for Bitcoin
  • The venues through which bitcoin trades are relatively new and may be more exposed to operational problems or failure than trading platforms for other assets, which could adversely affect the value of bitcoin and therefore adversely affect an investment in the Shares.
  • Bitcoin trading platforms used by the Trust may lack certain safeguards to detect and prevent fraudulent or manipulative trading.
  • Anonymity and illicit financing risk.
  • Spot bitcoin markets may be exposed to fraud and market manipulation.
  • Spot bitcoin markets may be exposed to wash trading.
  • Spot bitcoin markets may be exposed to front-running.
  • Spot bitcoin markets may be exposed to momentum pricing.
  • Political or economic crises may motivate large-scale sales of bitcoin, which could result in a reduction in the prices of bitcoin and adversely affect an investment in the Shares.
  • Ownership of bitcoin is pseudonymous, and the supply of accessible bitcoin is unknown. Entities with substantial holdings in bitcoin may engage in large-scale sales or distributions, either on nonmarket terms or in the ordinary course, which could result in a reduction in the price of bitcoin and adversely affect an investment in the Shares.
  • Risks Related to the Trust and the Shares
  • Several factors may affect the Trust’s ability to achieve its investment objective on a consistent basis.
  • The Trust is subject to risks due to its concentration of investments in a single asset.
  • Shareholders will not receive the benefits of any forks or “airdrops.”
  • The Trust is subject to management and operational risks from its Sponsor and service providers.
  • The Trust’s risk management processes and policies may prove to not be adequate to prevent any loss of the Trust’s bitcoin.
  • The development and commercialization of the Trust is subject to competitive pressures and may be adversely affected by competition from competing products and other investment vehicles focused on bitcoin or other digital assets.
  • The value of the Shares may be influenced by a variety of factors unrelated to the value of bitcoin.
  • The NAV may not always correspond to the market price of the Shares.
  • Benchmark tracking risk
  • The use of cash creations and redemptions may adversely affect the arbitrage transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of bitcoin and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
  • Bitcoin buying and selling activity associated with the creation and redemption of Creation Baskets, or withdrawal from participation by an Authorized Participant, may adversely affect an investment in the Shares of the Trust.
  • Authorized Participant Risk
  • The inability of Authorized Participants to hedge their bitcoin exposure may adversely affect the liquidity of Shares and the value of an investment in the Shares.
  • The market infrastructure of the bitcoin spot market could result in the absence of active Authorized Participants able to support the trading activity of the Trust.
  • Bitcoin spot trading platforms are not subject to the same regulatory oversight as traditional equity exchanges, which could negatively impact the ability of Authorized Participants to implement arbitrage mechanisms.
  • Only Authorized Participants may transact in Creation Baskets.
  • Bitcoin Counterparty Risk
  • Shareholders may be adversely affected by creation or redemption orders that are subject to postponement, suspension or rejection under certain circumstances.
  • The Exchange on which the Shares are listed may halt trading in the Trust’s Shares, which would adversely impact a Shareholder’s ability to sell Shares.
  • The lack of active trading markets for the Shares of the Trust may result in losses on Shareholders’ investments at the time of disposition of Shares.
  • Shareholders could incur a tax liability without an associated distribution of the Trust.
  • The amount of bitcoin represented by the Shares will decline over time.
  • Any errors or changes in calculations used to value the Trust’s bitcoin holdings and bitcoin holdings per Share may have an adverse effect on the value of the Shares.
  • The value of the Shares will be adversely affected if the Trust is required to indemnify the Sponsor, the Trustee, the Transfer Agent, the Bitcoin Custodian or the Cash Custodian.
  • The Sponsor and its affiliates are subject to conflicts of interest that could adversely affect an investment in the Trust.
  • Investment vehicles advised or managed by affiliates of the Sponsor hold a minority interest in Coinbase Global, the parent of Coinbase Inc., which serves as the Trust’s Prime Broker and operates one of the digital asset trading platforms included in the Benchmark price and is the parent of the Bitcoin Custodian.
  • There is no guarantee that every employee, officer, director or similar person associated with the Sponsor, the Execution Agent or their affiliates will comply with the policies, duties and training and refrain from engaging in insider trading in violation of their duties to the Trust, the Sponsor or the Execution Agent.
  • Risks Related to the Benchmark

Sources

The numbers on this page point here. Each one links to the record it came from.

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    Yahoo FinanceBTCO quote
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    SEC EDGAROther events