Invesco launches Physical Gold II ETC with 0.001oz units

On June 26, 2026, Invesco launched the Physical Gold II ETC. The exchange-traded commodity tracks the LBMA Gold Price and is backed by physical bullion held in JP Morgan Chase Bank’s London vaults. Each certificate represents 0.001 ounce of gold. At a hypothetical gold price of $4,000 per ounce, one certificate would be worth about $4.

The product mirrors Invesco’s existing physical gold offering by tracking the same benchmark and holding at least the equivalent amount of bullion to the product’s total value. Invesco’s flagship physical gold product has about $28 billion in assets and has been available in Europe since 2009.

Invesco says the smaller unit size is intended to let retail and professional investors trade gold with smaller ticket sizes and lower per-unit cost. Bullion for the Gold II ETC will be stored in London vaults operated by JP Morgan Chase Bank, with physical backing equal to the ETC’s value.

Sam Whitehead, Head of Alternative and ESG ETF Product Strategy at Invesco, commented: “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. This makes it easier for investors to gain cost-efficient exposure to the price of gold even with smaller investments.” Matthew Tagliani, Head of EMEA ETF Product at Invesco, added: “Exchange-traded products are being used by a growing investor base, including retail investors who now have greater access through trading platforms. Investors are now constructing diversified portfolios using the breadth of ETPs for not only their core building blocks in equities and fixed income but also for alternative assets and more strategic allocations. Gold has long been used for diversification as it tends to perform differently to equities and bonds, helping investors to cushion their portfolios from sharp falls in those more traditional asset classes.”

The Gold II ETC will trade alongside Invesco’s flagship product. Invesco says the product’s custody arrangement and smaller certificate size are intended to provide transparent physical backing and allow trading in modest increments on public markets.