Invesco Galaxy Bitcoin ETF (BTCO)

The Invesco Galaxy Bitcoin ETF (BTCO) is a spot bitcoin fund that holds bitcoin directly and seeks to track the performance of bitcoin's price, less fund expenses. It allows investors to gain bitcoin exposure through a conventional brokerage account without managing digital wallets or private keys.

The fund is a collaboration between Invesco and Galaxy Digital, a digital asset financial services firm. It was among the group of U.S. spot bitcoin ETFs that began trading in January 2024 after regulators approved the product category.

BTCO is passively managed, keeps its bitcoin with a third-party custodian, and values its holdings using a bitcoin reference price. It does not use leverage or derivatives.