Invesco CurrencyShares Swiss Franc Trust Reports Asset Surge but Net Loss for First Half of 2025

Invesco CurrencyShares® Swiss Franc Trust reported significant changes in its financial performance for the six months ending June 30, 2025, compared to the same period in 2024. The Trust's total assets surged to $501.5 million, a substantial increase from $142.2 million at the end of 2024. This growth was primarily driven by an increase in Swiss Franc deposits, which rose to $501.5 million from $142.2 million. However, the Trust recorded a net comprehensive loss of $566,785 for the first half of 2025, compared to a loss of $14,061 in the same period last year. The basic and diluted earnings per share also reflected this downturn, with losses of $0.21 per share in 2025 compared to $0.01 in 2024.

The Trust's operational metrics showed a notable increase in the number of redeemable capital shares, which rose to 4.5 million from 1.45 million. This increase was attributed to a net increase in share transactions, with purchases of shares totaling $381.1 million and redemptions amounting to $52.2 million during the first half of 2025. The Trust did not make any distributions to shareholders during the second quarter of 2025, contrasting with $54,755 in distributions made in the same quarter of 2024. The absence of interest income during the current period, compared to $304,533 in the previous year, further contributed to the overall loss.

The Trust's financial results were influenced by various market conditions, including fluctuations in the Swiss Franc's value against the U.S. dollar. The Swiss Franc demonstrated strong performance as a safe-haven asset amid global economic uncertainties, which led to increased investor interest. Despite a negative inflation rate in Switzerland, the currency appreciated due to risk aversion among investors. The Trust's interest rate on Swiss Franc deposits remained at 0.00%, which, combined with the Sponsor's fee, resulted in a net comprehensive loss as expenses exceeded any potential interest income.

Looking ahead, the Trust's management remains cautious about the potential impact of ongoing geopolitical tensions and U.S. economic conditions on its performance. The Trust's investment objective continues to focus on reflecting the price of the Swiss Franc in U.S. dollars, and management anticipates that fluctuations in the currency's value will remain a critical factor influencing the Trust's financial results. The Trust does not foresee any immediate changes in its liquidity or capital resource needs, as it maintains a stable operational framework with no significant cash requirements.