# Invesco Physical Bitcoin ETP (BTIP)

**Source:** https://fundology.uk/fund/btip · ISIN XS2376095068 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 30/09/2026, BTIP (Invesco Physical Bitcoin ETP, ISIN XS2376095068) closed at £61.40 on the London Stock Exchange. Its ongoing charge is 0.99% a year (about £99 on £10,000). Over the year to 30/09/2026 its total return was −30.8%, or −33.0% after UK CPIH inflation.

## Summary

Invesco Physical Bitcoin ETP is an exchange-traded product from Invesco, launched in 2021. It tracks the CoinShares Bitcoin Hourly Reference Rate - 4pm Fixing - Benchmark TR Net. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.99% a year — about £99 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

> **Crypto:** Cryptoassets are high-risk and largely unregulated in the UK. Prices can rise and fall very sharply, and you could lose all the money you put in.

Latest close: **£61.40** (30/09/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | BTIP |
| ISIN | XS2376095068 |
| Category | Crypto |
| Type | ETN / ETP |
| Provider | Invesco |
| Tracks | CoinShares Bitcoin Hourly Reference Rate - 4pm Fixing - Benchmark TR Net |
| Income | Accumulating |
| Ongoing charge | 0.99% a year (£99 per £10,000) |
| Fund size | £158m |
| Launched | 2021 |
| Domicile | Ireland |

## Past returns (periods to 30/09/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -30.80% | -32.97% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Invesco Physical Bitcoin ETP in pounds (price, with income reinvested in the fund): 2025 −14.1%; 2026 to 30/09/2026 −2.4%. Returns of Invesco Physical Bitcoin ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −22.7%; to 30/09/2025: +64.2%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2025 | -14.1% | -17.0% | Price |
| 2026 to 30/09/2026 | -2.4% | -5.1% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 46.61% | -49.58% |

## Largest fall

Volatility of Invesco Physical Bitcoin ETP in pounds, annualised from weekly returns to 30/09/2026: 46.6% over 1 year. Largest fall in the price of Invesco Physical Bitcoin ETP since June 2024, in pounds: −49.6% from 03/10/2025 to 05/06/2026. The lowest 12-month return of Invesco Physical Bitcoin ETP in pounds (price, with income reinvested in the fund) since June 2024 was −46.4% (12 months to 17/07/2026); the highest was +98.8% (12 months to 05/09/2025). On 30/09/2026 the price of Invesco Physical Bitcoin ETP was 30.0% below its highest weekly close since June 2024 (03/10/2025), in pounds.

## Charges compared with similar funds

Ongoing charge of Invesco Physical Bitcoin ETP 0.99% a year, as of 01/10/2026: 5 of the 15 other crypto products charge more, 0 the same and 10 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.99%** per year
- ISA eligible: yes
- SIPP eligible: yes

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.