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BTCO

GradeBChicago Board Options Exchange

Invesco Galaxy Bitcoin ETF

Crypto · Invesco · Inception 2024-01-11 · SEC filings

$83.84−1.87 (−2.18%)

As of Sep 23, 2026, 3:14 PM EDT

History starts Jan 11, 2024.
Intraday session: down, 39 prints from 85.71 to 83.84. Range 83.11 to 85.37. Use the arrow keys to read each point.$83.00$85.0010 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$441M
1Y return
−23.4%
Yield · Last 12 months
—
Volume · 30D
0.1M sh
NAV per share
$86.02
52W range
low $57.76high $125.96

The ETF.net BTCO Grade

B

59/ 100

Rank 9 of 13 in Spot Bitcoin⁠

Confidence Medium

Six-pillar profile for BTCO. Scores out of 100: Cost 35, Risk 47, Mission 100, Tradability 56, Holdings not scored, Durability 55. Strongest: Mission (100). Weakest: Cost (35). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 59 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 35
    Category rank8/13 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank5/12 · top 42%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 47
    Category rank9/13 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 56
    Category rank6/13 · top 46%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 55
    Category rank6/13 · top 46%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on BTCO

ETF.net Research

BA day-one member of the January 2024 spot bitcoin class: a trust that holds the coin, tracks the Lukka Prime reference rate, and charges the category's median fee. No yield, no hedging, no cleverness.

Stated mandate

The Trust seeks to track the spot price of bitcoin, measured by the Lukka Prime Bitcoin Reference Rate, after expenses and liabilities.

Why people hold it

  1. 01One job, stated plainly: hold bitcoin and track the spot price via the Lukka Prime Bitcoin Reference Rate, after expenses. Nothing else in the box.
  2. 02The 0.25% expense ratio sits right at the median for spot bitcoin funds, so the Invesco name does not carry a markup.
  3. 03Launched January 2024 with the first wave of US spot bitcoin ETFs, giving it a real operating history rather than a late me-too listing.
  4. 04Grantor trust wrapper: shares stand for bitcoin the trust holds, bought and sold in a normal brokerage account instead of an exchange wallet.

Worth knowing

  1. 01Cheaper ways to own the same exposure exist in the cohort, including BTC at 0.15% and BITB and HODL at 0.20%.
  2. 02Moderately traded rather than one of the category's busiest tickers, which can show up in spreads on larger or hurried orders.
  3. 03It makes no distributions. The whole result rides on bitcoin's price, an asset class with a wide swing range.

BTCO Holdings

As of Sep 20, 2026, 1:45 PM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
PHYSICAL BITCOIN100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—PHYSICAL BITCOIN100.00%5,102$414M1

Showing 1–1 of 1 holdings

BTCO Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BTCO$7,660
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BTCO $7,660. SPY $11,723. Use the arrow keys to read each point.$4,696$8,490$12,285Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BTCO. Periods over one year show the average yearly return.
PeriodBTCO
Year to date−1.7%
1 month+11.8%
3 months+33.7%
1 year−23.4%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BTCO
YearReturn barBTCO
2026 YTD−1.7%
2025−6.6%
2024+100.5%

Since listing, Jan 11, 2024

BTCO in the news

ETF.net Research hasn’t filed on BTCO yet — coverage lands here as it’s written.

BTCO Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

BTCO Risk

How much the fund’s monthly returns vary, scaled to a year.
54.8%
Annualised · 31 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.60
vs 3-month T-bills · 31 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−53.3%
32 months · trough Jun 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.17
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

BTCO Cost

Expense ratio0.25%
  • The middle half of Spot Bitcoin funds
  • Median 0.23%

6 of the 12 Spot Bitcoin funds charge less.

BTCO costs $25.00 a year on $10,000. The median Spot Bitcoin fund costs $23.00.