Invesco

Independent asset manager with $2.54T AUM and the BTCO spot bitcoin ETF

Asset manager United States Oct 23

Visit invesco.com

4.0/ 5

Our score

Very good

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Products Spot ETFs

Assets under management $2,537.8 billion as of September 30, 2026

Flagship products Invesco Galaxy Bitcoin ETF, BTCO

Regulators U.S. Securities and Exchange Commission

What is Invesco?

Invesco is an independent global investment management firm founded in 1935. It manages $2,537.8 billion as of September 30, 2026, across public and private, active and passive strategies. Its crypto offering includes the Invesco Galaxy Bitcoin ETF, which trades under BTCO on Cboe BZX.

Company and management

Invesco Ltd. has principal executive offices in Atlanta, United States, and an on-the-ground presence in more than 20 countries. It serves clients in more than 120 countries and had 7,499 employees as of December 31, 2025. Andrew Schlossberg is president and chief executive officer; he has worked in asset management since 1996 and holds degrees from the University of Delaware and Northwestern University. Stephanie Butcher and Tony Wong are co-heads of investments, while L. Allison Dukes is chief financial officer.

Invesco became a public company through an initial public offering in August 1995. The company traces its roots to H. Lotery & Co. Ltd., a UK-based advisory firm. It launched the Invesco QQQ exchange-traded fund in March 1999.

Crypto product mechanics

BTCO is a Delaware statutory trust whose shares trade on Cboe BZX. The fund seeks to reflect bitcoin's spot price through the Lukka Prime Bitcoin Reference Rate, less the trust's expenses and liabilities. Investors buy and sell ETF shares through a brokerage account rather than holding bitcoin directly in a personal wallet.

Fees and access

BTCO incurs trust expenses and liabilities that reduce its performance relative to the reference rate. Exchange-traded shares are available through brokerage accounts, while the wider firm offers investment capabilities to retail and institutional clients and financial advisers. Invesco operates across more than 120 client countries, with regional products and services selected through its website.

Track record and risks

BTCO had 6,350,000 shares outstanding and non-affiliate equity market value of $558,792,000 as of January 31, 2026. Invesco reported $2.5 trillion in AUM as of June 30, 2026, followed by $2,537.8 billion at September 30, 2026, when net long-term outflows were $1.1 billion for the month.

The ETF carries bitcoin price volatility, tracking error, and potential share premiums or discounts relative to the underlying bitcoin. Trust expenses reduce returns, while the fund structure concentrates custody and operational exposure around its bitcoin arrangements. Regulatory changes can affect availability. In October 2004, Invesco agreed to a $450 million settlement with the New York and Colorado state attorneys general and the U.S. Securities and Exchange Commission over alleged market-timing trading in mutual funds managed by Invesco.

Best for:Brokerage-based bitcoin exposureInstitutional portfolio allocationsFinancial adviser-led portfoliosInvestors seeking exchange-traded products

Pros and cons

Pros

$2,537.8 billion in AUM as of September 30, 2026
BTCO offers exchange-traded bitcoin exposure on Cboe BZX
Founded in 1935 with a public-company history since August 1995
Serves clients in more than 120 countries
Offers public, private, active and passive investment capabilities

Cons

BTCO's trust expenses reduce returns against bitcoin's reference rate
Bitcoin exposure remains subject to sharp price volatility
The product line shown here is focused on bitcoin
ETF shares can trade at premiums or discounts to underlying exposure
Invesco agreed to a $450 million market-timing settlement in October 2004

Our review

4.0/5

Very good

Invesco brings institutional heft with $2.5T in overall AUM and spot bitcoin exposure via BTCO, though its standalone crypto range remains narrow.

Track record & size5.0

Product range3.0

Fees3.0

Regulation & custody4.5

Transparency4.0

Invesco operates as an independent global investment manager, tracing its beginnings to 1935 with headquarters in Atlanta, Georgia. Led by president and chief executive officer Andrew Schlossberg, the publicly traded firm managed preliminary total assets under management of $2,537.8 billion as of September 30, 2026. For investors navigating digital assets, Invesco translates traditional exchange plumbing into crypto exposure through standardized public vehicles rather than native wallets or decentralized protocols.

Its primary digital asset offering is the Invesco Galaxy Bitcoin ETF, traded on Cboe BZX under the ticker BTCO. Structured as a Delaware statutory trust, BTCO tracks the spot price of bitcoin via the Lukka Prime Bitcoin Reference Rate, less trust expenses and liabilities. As of January 31, 2026, the fund held 6,350,000 shares outstanding with an equity market value among non-affiliates of $558.8 million. The exchange listing allows retail buyers and institutional clients to gain exposure via regular brokerage accounts without managing private keys or specialized crypto tax reporting.

The central trade-off is product variety. Unlike crypto-native managers that provide staking vehicles or multi-asset funds, Invesco concentrates its digital product line on spot bitcoin alongside broader passive index ETFs like Invesco QQQ. Investors do not receive direct blockchain ownership, redemption into physical cryptocurrency, or staking yield. Operationally, the firm settled a $450 million market-timing enforcement action with regulators including the SEC in October 2004, though its modern exchange-traded products operate under strict SEC reporting standards.

Invesco suits wealth advisors and traditional stock investors seeking regulated, brokerage-native exposure to spot bitcoin backed by an established asset management brand. Crypto investors looking for yield strategies or self-custody will need dedicated digital asset specialists or on-chain services.

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Sources (1)

Home | Invesco Corporate

Specs

Products	Spot ETFs · unverified
Clients	Retail, Institutions, Financial advisors · unverified
Assets under management	$2,537.8 billion as of September 30, 2026 · unverified
Flagship products	Invesco Galaxy Bitcoin ETF, BTCO · unverified
Assets covered	Bitcoin · unverified
Regulators	U.S. Securities and Exchange Commission · unverified

Not disclosed by the provider: Fees, Minimum investment, Custodians.

Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.

Key features

Spot bitcoin ETF

BTCO seeks to follow bitcoin's spot price through the Lukka Prime Bitcoin Reference Rate, less trust expenses and liabilities.

Cboe BZX listing

BTCO shares trade on Cboe BZX, giving brokerage-account investors exchange-traded access to the fund.

Public market access

The ETF structure avoids direct wallet management for investors buying and selling shares through a brokerage account.

Global distribution

Invesco serves clients in more than 120 countries and has an on-the-ground presence in more than 20 countries.

Broad investment platform

The firm offers public and private, active and passive investment capabilities alongside its digital-asset-related ETFs.

Bitcoin reference pricing

BTCO uses the Lukka Prime Bitcoin Reference Rate to calculate exposure to bitcoin's spot price.

Inside Invesco

Exchange-traded funds

Exchange-listed products designed for public trading, including flagship offerings such as the Invesco QQQ ETF.

Invesco Galaxy Bitcoin ETF

A spot bitcoin investment trust listed on Cboe BZX under the symbol BTCO that reflects spot bitcoin pricing via the Lukka Prime Bitcoin Reference Rate.

Asset management

Global active and passive investment management strategies serving retail, institutional, and advisor clients across international markets.

What users say about Invesco

There is insufficient user feedback to identify common praise or complaints regarding the platform. The available mentions only reference the website as an external data source for fund information.

Based on 2 Reddit posts and comments from the last 12 months, checked Oct 23, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.

User reviews

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FAQ

Who leads Invesco?

Andrew Schlossberg serves as president and chief executive officer of Invesco. The leadership team also includes Chief Financial Officer L. Allison Dukes and investment co-heads Stephanie Butcher and Tony Wong.

What crypto products does Invesco offer?

Invesco offers the Invesco Galaxy Bitcoin ETF, which trades on Cboe BZX under the ticker symbol BTCO. The trust holds spot bitcoin and tracks the Lukka Prime Bitcoin Reference Rate.

Where is Invesco based?

Invesco has its principal executive offices in Atlanta, Georgia. The parent organization, Invesco Ltd., is organized in Bermuda and maintains an on-the-ground presence in more than 20 countries.

What size is the Invesco Galaxy Bitcoin ETF?

As of January 31, 2026, the Invesco Galaxy Bitcoin ETF had 6,350,000 shares outstanding. Its non-affiliate equity market value was $558,792,000.

Has Invesco experienced past regulatory penalties?

In October 2004, Invesco agreed to a $450 million settlement with the U.S. Securities and Exchange Commission and state attorneys general. The settlement addressed alleged market-timing trades in its mutual funds.