Invesco Physical Bitcoin: price, fees and where to buy

Invesco Physical Bitcoin

Issued by Invesco · Crypto-backed ETP

$78.92 −3.18 % SIX Swiss Exchange · BTIC.SW Volume: 234 shares Price as of 15/10/2026 14h10
1M +7.16 %
3M +27.19 %
6M +7.95 %
1Y −26.84 %
3Y +182.77 %
5Y +35.50 %

One-year change: −26.84 %

Underlying asset Bitcoin
Type Crypto-backed ETP
Management fee 0.10 % per year
ISIN XS2376095068
Domicile Irlande
Income Market cap
Replication Physically held
PEA-eligible No

The Invesco Physical Bitcoin (ISIN: XS2376095068) is a financial instrument designed to provide exposure to the price movements of Bitcoin through a regulated stock exchange framework. It is important to note that purchasing this ETP (Exchange Traded Product) is not the same as holding the cryptocurrency itself in a private digital wallet; rather, it is a debt security tracking the underlying asset.

Understanding the Structure and Replication

The Invesco Physical Bitcoin ETP uses a "physically held" replication method. This means that for every unit of the ETP issued, the issuer, Invesco, holds a corresponding amount of actual Bitcoin in secure, institutional-grade cold storage. This structure ensures that the value of the product is directly linked to the spot price of Bitcoin.

Unlike some crypto-assets that generate "staking rewards" through network participation (Proof of Stake), Bitcoin operates on a Proof of Work mechanism. Consequently, this specific product does not generate staking income; its performance is strictly tied to the market capitalization and price fluctuations of the underlying Bitcoin.

Legal Framework and Domiciliation

The product is domiciled in Ireland and structured as a crypto-backed ETP. While it is traded on regulated exchanges, it does not meet the UCITS (Undertakings for Collective Investment in Transferable Securities) criteria, as current European regulations generally do not allow UCITS funds to hold a single crypto-asset as a primary exposure.

For the investor, the Irish domicile and the ETP structure mean the product is subject to specific European financial regulations regarding transparency and custody. However, it remains a debt instrument, and its tax treatment depends entirely on the laws of the investor's country of residence.

Management Fees and Cost Evolution

The management fees, also known as the Total Expense Ratio (TER), are used to cover the costs of secure custody, insurance of the physical assets, and administrative oversight.

As of current data, the annual management fee is set at 0.10%. This rate is fixed until the end of December 2026. After this date, the fee is scheduled to increase to 0.25% per annum. Compared to similar products in the European market, these fees are positioned at the lower end of the spectrum for physically-backed crypto ETPs.

Trading and Operational Considerations

The Invesco Physical Bitcoin is listed on the SIX Swiss Exchange and the London Stock Exchange, with the primary trading currency being USD. Before purchasing, investors should consider the following:

  • The Spread: The difference between the buying and selling price on the exchange.
  • Brokerage Fees: Costs charged by your financial intermediary for executing the trade.
  • Taxation: This product is not eligible for the PEA (Plan d'Épargne en Actions) in France. Investors must verify the capital gains tax applicable in their specific jurisdiction.

Is this product UCITS compliant?

No. Because it tracks a single underlying commodity (Bitcoin), it does not meet the diversification requirements necessary for the UCITS label.

Can I redeem the ETP for actual Bitcoin?

This product is designed to be bought and sold in cash through a brokerage account on a stock exchange. It does not provide the holder with the ability to withdraw the underlying Bitcoin to a personal private wallet.

What happens to the fees after December 2026?

The current management fee of 0.10% is a promotional rate. Starting January 1, 2027, the annual fee will increase to 0.25%, which will be deducted proportionally from the value of the ETP.

Frais de 0,10 % par an jusqu'à fin décembre 2026, puis 0,25 %.

Where this product is listed

Venue Ticker Currency Last price Change
SIX Swiss Exchange BTIC USD $78.92 −3.18 %
London Stock Exchange BTIC USD $79.86 +0.33 %

Where to buy this product

These brokers give access to at least one of the venues where this product is listed. Check on their site that they list it before opening an account.

Interactive Brokers Broker

Via SIX Swiss Exchange (BTIC)

Order fee 3 € ou 3 £ par ordre jusqu'à 6 000 €, puis 0,05 % de la valeur (tarif Fixe)

Currency conversion fee: 0.002 %

Open an account
DEGIRO Broker

Via SIX Swiss Exchange (BTIC)

Order fee 3 € par ordre (2 € de courtage + 1 € de gestion), 1 € sur la Sélection principale d'ETF

Currency conversion fee: 0.250 %

Open an account
Bourse Direct Broker

Via SIX Swiss Exchange (BTIC)

Order fee Euronext : 0,99 € jusqu'à 500 €, 1,90 € jusqu'à 1 000 €, 2,90 € jusqu'à 2 000 €, 3,80 € jusqu'à 4 400 €, puis 0,09 %. XETRA et Londres : 0,15 % min. 15 €. Suisse : 0,20 % min. 18 €

Currency conversion fee: 0.080 %

Open an account
Saxo Bank

Via SIX Swiss Exchange (BTIC)

Order fee XETRA : 0,12 % min. 12 € (offre Classic), 0,10 % min. 10 € (Platinum)

Open an account
Swissquote Bank

Via SIX Swiss Exchange (BTIC)

Order fee Forfait de 3 à 9 CHF sur les ETF Leaders cotés à la SIX ; courtage actions à partir de 3 CHF sous 500 CHF

Open an account
XTB Broker

Via London Stock Exchange (BTIC)

Order fee 0 % jusqu'à 100 000 € de volume par mois calendaire, puis 0,20 % avec un minimum de 10 €

Currency conversion fee: 0.500 %

Open an account
eToro Investment platform

Via London Stock Exchange (BTIC)

Order fee Aucune commission sur les ETF ; 1 à 2 USD par ordre sur les actions selon le pays et la place

Currency conversion fee: 0.750 %

Open an account
Freedom24 Broker

Via London Stock Exchange (BTIC)

Order fee Formule Smart : 2 € par ordre plus 0,02 € par titre, minimum 10 €

Open an account
AJ Bell Investment platform

Via London Stock Exchange (BTIC)

Order fee 5 £ par ordre, 3,50 £ pour les investisseurs réguliers

Open an account

Information, not investment advice. Crypto prices swing hard and you can lose everything you invest. Fees and listings change: check them on the issuer's site before investing.