Company: FXB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027271
Chunk: 41

Company: Invesco CurrencyShares British Pound Sterling Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 41
---
    85,722,013

    109,779,970

    Cash at end of period
     
    $
    60,154,130

    $
    85,722,013

    Supplemental disclosure of cash flow information

    Cash paid for interest
     
    $
    —

    $
    —

See accompanying Notes to Financial Statements which are an integral part of the financial statements. 

23

Invesco CurrencyShares® British Pound Sterling Trust 

Notes to Financial Statements 

December 31, 2024

Note 1 – BackgroundOn September 28, 2017, Guggenheim Capital, LLC (“Guggenheim”) and Invesco Ltd. entered into a Transaction Agreement (the “Transaction Agreement”), pursuant to which Guggenheim agreed to transfer all of the membership interests of Guggenheim Specialized Products, LLC (the “Sponsor”) to Invesco Capital Management LLC (“Invesco Capital Management”). The Transaction Agreement was consummated on April 6, 2018 (the “Closing”) and immediately following the Closing, Invesco Capital Management changed the name of the Sponsor to Invesco Specialized Products, LLC. 

Note 2 – OrganizationThe Invesco CurrencyShares® British Pound Sterling Trust (the “Trust”) was formed under the laws of the State of New York on June 8, 2006 when the Sponsor deposited 100 British Pounds Sterling in the Trust’s primary deposit account held by JPMorgan Chase Bank, N.A., London Branch (the “Depository”). The Sponsor is a Delaware limited liability company whose sole member is Invesco Capital Management. The Trust has an unlimited number of shares authorized for issuance.The investment objective of the Trust is for the Trust’s shares (the “Shares”) to reflect the price in U.S. Dollars (“USD”) of the British Pound Sterling plus accrued interest, if any, less the Trust’s expenses and liabilities. The Shares are intended to provide investors with a simple, cost-effective means of gaining investment benefits similar to those of holding British Pounds Sterling. The Trust’s assets primarily consist of British Pounds Sterling on demand deposit in two deposit accounts maintained by the Depository: a primary deposit account which may earn interest and a secondary deposit account which does not earn interest. The secondary deposit account is used to account for any interest that may be received and paid out on creations and redemptions of blocks of 50,000 Shares (“Baskets”). The secondary account is