Invesco launches Physical Gold II ETC for smaller investors

Invesco launched the Invesco Physical Gold II ETC on June 26, 2026. The exchange-traded commodity tracks the LBMA Gold Price and is backed by physical gold held in JP Morgan Chase Bank’s London vaults. Each certificate represents 1/1,000th of an ounce.

The firm stated the ETC will hold at least the equivalent amount of gold bullion to the total value of outstanding certificates. At an example gold price of $4,000 per ounce, one certificate would be worth about $4.00. The lower unit price is intended to give smaller retail and professional investors direct, fractional exposure to bullion.

The new product uses the same LBMA Gold Price benchmark as Invesco’s larger gold vehicle, which manages about $28 billion and has traded since 2009. Invesco said the Gold II ETC mirrors the larger product’s structure while offering a smaller denomination.

Sam Whitehead, Head of Alternative and ESG ETF Product Strategy at Invesco, explained: “With the Gold II ETC, the product is again backed by securely stored gold bullion, but each certificate simply represents a smaller amount of physical gold.” He said the design makes it easier for investors to gain exposure to the price of gold with smaller investments.

Matthew Tagliani, Head of EMEA ETF Product at Invesco, commented that exchange-traded products are being used by a growing base of investors, including retail clients accessing ETPs through trading platforms. He said investors are using ETPs to build allocations beyond equities and fixed income, and that gold is commonly used for diversification because it can behave differently from stocks and bonds.

The LBMA Gold Price is set by auctions that reflect spot market conditions in the London wholesale gold market. Invesco added the new ETC will sit alongside its existing gold vehicle as an option for investors seeking smaller-scale bullion exposure and for those building allocations through trading platforms.