Investments in Bitcoin (Tables)

9 Months Ended

Sep. 30, 2025

The following is a summary of the transactions in, and earnings from, investments in bitcoin for the three and nine months ended September 30, 2025.


	Fair Value
Opening Balance as of 06/30/2025	$	556,006,111
Purchases at Cost		110,368,270
Proceeds from Sales to Pay Sponsor Fee		(375,751	)
Proceeds from bitcoin sold for Redemptions		(5,082,821	)
Change in Unrealized Appreciation (Depreciation)		36,148,408
Net Realized (Gain) Loss from Investments in Bitcoin Sold to pay Sponsor Fee		(25,504	)
Net Realized (Gain) Loss from Investments in Bitcoin Sold for Redemptions		(259,605	)
Ending Balance as of 09/30/2025	$	696,779,108


	Fair Value
Opening Balance as of 12/31/2024	$	727,789,330
Purchases at Cost		199,389,498
Proceeds from Sales to Pay Sponsor Fee		(1,169,010	)
Proceeds from bitcoin sold for Redemptions		(318,846,774	)
Change in Unrealized Appreciation (Depreciation)		16,617,668
Net Realized (Gain) Loss from Investments in Bitcoin Sold to pay Sponsor Fee		111,040
Net Realized (Gain) Loss from Investments in Bitcoin Sold for Redemptions		72,887,356
Ending Balance as of 09/30/2025	$	696,779,108

The following is a summary of the transactions in, and earnings from, investments in bitcoin for the three and nine months ended September 30, 2024.


	Fair Value
Opening Balance as of 06/30/2024	$	435,244,053
Purchases at Cost		99,635,636
Proceeds from Sales to Pay Sponsor Fee		(171,659	)
Proceeds from bitcoin sold for Redemptions		(22,308,118	)
Change in Unrealized Appreciation (Depreciation)		8,275,270
Net Realized (Gain) Loss from Investments in Bitcoin Sold to pay Sponsor Fee		(24,850	)
Net Realized (Gain) Loss from Investments in Bitcoin Sold for Redemptions		(3,921,986	)
Ending Balance as of 09/30/2024	$	516,728,346


	Fair Value
Opening Balance as of 12/31/2023	$	—
Purchases at Cost		609,352,034
Proceeds from Sales to Pay Sponsor Fee		(171,659	)
Proceeds from bitcoin sold for Redemptions		(233,515,465	)
Change in Unrealized Appreciation (Depreciation)		111,052,266
Net Realized (Gain) Loss from Investments in Bitcoin Sold to pay Sponsor Fee		(24,850	)
Net Realized (Gain) Loss from Investments in Bitcoin Sold for Redemptions		30,036,020
Ending Balance as of 09/30/2024	$	516,728,346

Invesco Galaxy Bitcoin ETF 10-Q