Invesco Galaxy Bitcoin ETF

For the period ended Jun 30, 2026. Filed Aug 7, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 7, 2026

BTCO$74.34-1.3%Stored close · as of Nov 9, 2026

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Contents

Item 1. FINANCIAL STATEMENTS

Statements of Financial Condition

June 30, 2026 and December 31, 2025

	June 30,	December 31,
	2026	2025
Assets
Investments in Bitcoin, at value (cost $232,997,618 and $330,940,642, respectively)	$315,869,355	$544,369,140
Total Assets	$315,869,355	$544,369,140
Liabilities
Payable for:
Accrued Sponsor fee	$80,821	$119,145
Total Liabilities	$80,821	$119,145
Commitments and Contingencies (Note 9)
Net Assets	$315,788,534	$544,249,995
Net assets consist of:
Paid-in-capital	$164,912,980	$210,297,191
Distributable earnings (loss)	150,875,554	333,952,804
	$315,788,534	$544,249,995
Shares outstanding	5,370,000	6,240,000
Net asset value per share	$58.81	$87.22
Market value per share	$58.41	$87.20

Schedule of Investments

June 30, 2026

Description · Quantity · Cost · Fair Value · % of Net Assets
Cryptocurrency
Bitcoin	5,345	$232,997,618		$315,869,355		100.03%
Total Investments	5,345	$232,997,618		$315,869,355		100.03%
Other Assets Less Liabilities			$(80,821)		(0.03)%
Net assets			$315,788,534		100.00%

Schedule of Investments

December 31, 2025

Description · Quantity · Cost · Fair Value · % of Net Assets
Cryptocurrency
Bitcoin	6,218	$330,940,642		$544,369,140		100.02%
Total Investments	6,218	$330,940,642		$544,369,140		100.02%
Other Assets Less Liabilities			$(119,145)		(0.02)%
Net assets			$544,249,995		100.00%

Statements of Income and Expenses

For the Three and Six Months Ended June 30, 2026 and 2025

	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Income
Total Income	$—	$—	$—	$—
Expenses
Sponsor Fee	291,917	319,429	599,845	726,402
Total Expenses	291,917	319,429	599,845	726,402
Net Investment Income (Loss)	(291,917)	(319,429)	(599,845)	(726,402)
Net Realized and Net Change in Unrealized Gain (Loss)
Net Realized Gain (Loss) on
Investments in Bitcoin Sold to Pay Sponsor Fee	(165,121)	47,596	(301,591)	136,544
Investments in Bitcoin Sold for Redemptions	(43,974,778)	12,299,259	(51,619,053)	73,146,961
Net Realized Gain (Loss)	(44,139,899)	12,346,855	(51,920,644)	73,283,505
Net Change in Unrealized Gain (Loss) on Investments in Bitcoin	(11,690,927)	114,413,890	(130,556,761)	(19,530,740)
Net Realized and Net Change in Unrealized Gain (Loss) on Investments in Bitcoin	(55,830,826)	126,760,745	(182,477,405)	53,752,765
Net Income (Loss)	$(56,122,743)	$126,441,316	$(183,077,250)	$53,026,363

Statements of Changes in Shareholders’ Equity

For the Three Months Ended June 30, 2026 and 2025

Shares · Total Shareholders’Equity
Balance at March 31, 2026	6,740,000		$457,194,111
Purchases of Shares	140,000		11,203,123
Redemption of Shares	(1,510,000)		(96,485,957)
Net Increase (Decrease) due to Share Transactions	(1,370,000)		(85,282,834)
Net Income (Loss)
Net Investment Income (Loss)		(291,917)
Net Realized Gain (Loss) on Investments in Bitcoin Sold for Sponsor Fee and Redemptions		(44,139,899)
Net Change in Unrealized Gain (Loss) on Investments in Bitcoin		(11,690,927)
Net Income (Loss)		(56,122,743)
Net Change in Shareholders’ Equity	(1,370,000)		(141,405,577)
Balance at June 30, 2026	5,370,000		$315,788,534

Shares · Total Shareholders’Equity
Balance at March 31, 2025	5,300,000		$436,167,531
Purchases of Shares	635,000		60,648,364
Redemption of Shares	(735,000)		(67,361,734)
Net Increase (Decrease) due to Share Transactions	(100,000)		(6,713,370)
Net Income (Loss)
Net Investment Income (Loss)		(319,429)
Net Realized Gain (Loss) on Investments in Bitcoin Sold for Sponsor Fee and Redemptions		12,346,855
Net Change in Unrealized Gain (Loss) on Investments in Bitcoin		114,413,890
Net Income (Loss)		126,441,316
Net Change in Shareholders’ Equity	(100,000)		119,727,946
Balance at June 30, 2025	5,200,000		$555,895,477

Statements of Changes in Shareholders’ Equity

For the Six Months Ended June 30, 2026 and 2025

Shares · Total Shareholders’Equity
Balance at December 31, 2025	6,240,000		$544,249,995
Purchases of Shares	845,000		66,314,802
Redemption of Shares	(1,715,000)		(111,699,013)
Net Increase (Decrease) due to Share Transactions	(870,000)		(45,384,211)
Net Income (Loss)
Net Investment Income (Loss)		(599,845)
Net Realized Gain (Loss) on Investments in Bitcoin Sold for Sponsor Fee and Redemptions		(51,920,644)
Net Change in Unrealized Gain (Loss) on Investments in Bitcoin		(130,556,761)
Net Income (Loss)		(183,077,250)
Net Change in Shareholders’ Equity	(870,000)		(228,461,461)
Balance at June 30, 2026	5,370,000		$315,788,534

Shares · Total Shareholders’Equity
Balance at December 31, 2024	7,800,000		$727,611,833
Purchases of Shares	910,000		89,033,072
Redemption of Shares	(3,510,000)		(313,775,791)
Net Increase (Decrease) due to Share Transactions	(2,600,000)		(224,742,719)
Net Income (Loss)
Net Investment Income (Loss)		(726,402)
Net Realized Gain (Loss) on Investments in Bitcoin Sold for Sponsor Fee and Redemptions		73,283,505
Net Change in Unrealized Gain (Loss) on Investments in Bitcoin		(19,530,740)
Net Income (Loss)		53,026,363
Net Change in Shareholders’ Equity	(2,600,000)		(171,716,356)
Balance at June 30, 2025	5,200,000		$555,895,477

Statements of Cash Flows

For the Six Months Ended June 30, 2026 and 2025

	Six Months Ended June 30,
	2026	2025
Cash flows from operating activities:
Net Income (Loss)	$(183,077,250)	$53,026,363
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Cost of Bitcoin purchased	(66,313,377)	(89,021,228)
Proceeds from Bitcoin sold to pay Sponsor Fee	638,169	793,259
Proceeds from Bitcoin sold for redemptions	111,697,588	313,763,953
Net Realized (Gain) Loss on Investments in Bitcoin Sold to pay Sponsor Fee	301,591	(136,544)
Net Realized (Gain) Loss on Investments in Bitcoin Sold for Redemptions	51,619,053	(73,146,961)
Net Change in Unrealized (Gain) Loss on Investments in Bitcoin	130,556,761	19,530,740
Change in operating assets and liabilities:
Accrued Sponsor fee	(38,324)	(66,863)
Net cash provided by (used in) operating activities	45,384,211	224,742,719
Cash flows from financing activities:
Proceeds from purchases of Shares	66,314,802	89,033,072
Redemption of Shares	(111,699,013)	(313,775,791)
Net cash provided by (used in) financing activities	(45,384,211)	(224,742,719)
Net change in cash	—	—
Cash at beginning of period	—	—
Cash at end of period	$—	$—

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.