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        <name>Grayscale Bitcoin Mini Trust ETF</name>
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      <invstOrSec>
        <name>Nakamoto Inc.</name>
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        <name>Grayscale Bitcoin Trust ETF</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Core Scientific, Inc.</name>
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        <name>Coinbase Global, Inc.</name>
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        <name>Tesla, Inc.</name>
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        <name>GameStop Corp.</name>
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        <name>Advanced Micro Devices, Inc.</name>
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        <name>Visa Inc.</name>
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        <name>Riot Platforms, Inc.</name>
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        <name>ARK 21Shares Bitcoin ETF</name>
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        <name>Hut 8 Corp.</name>
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        <name>Bitwise Bitcoin ETF</name>
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        <name>Fidelity Wise Origin Bitcoin Fund</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>NVIDIA Corp.</name>
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        <name>Etoro Group Ltd.</name>
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        <name>OSL Group Ltd.</name>
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        <name>Invesco Private Prime Fund</name>
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      <invstOrSec>
        <name>American Bitcoin Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Canaan Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Aker ASA</name>
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      <invstOrSec>
        <name>IREN Ltd.</name>
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        <name>Gemini Space Station, Inc.</name>
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        <name>Bit Digital, Inc.</name>
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        <title>Bit Digital, Inc.</title>
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        <name>BTCS Inc.</name>
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        <title>BTCS Inc.</title>
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        <name>BitMine Immersion Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares Bitcoin Trust ETF</name>
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        <title>iShares Bitcoin Trust ETF</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Mara Holdings, Inc.</name>
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        <name>Soluna Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Galaxy Digital Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SoFi Technologies, Inc.</name>
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        <name>Keel Infrastructure Corp.</name>
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        <name>Bitdeer Technologies Group</name>
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        <title>Bitdeer Technologies Group</title>
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        <name>Bitgo Holdings, Inc.</name>
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        <name>Invesco Private Government Fund</name>
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        <name>VanEck Bitcoin ETF</name>
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        <name>Hive Digital Technologies Ltd.</name>
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        <name>Microsoft Corp.</name>
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        <name>Strategy Inc.</name>
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        <name>SharpLink, Inc.</name>
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        <name>Hyperscale Data, Inc.</name>
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        <title>Hyperscale Data, Inc.</title>
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        <name>Taiwan Semiconductor Manufacturing Co. Ltd.</name>
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        <title>Taiwan Semiconductor Manufacturing Co. Ltd., ADR</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Trump Media &amp; Technology Group Corp.</name>
        <lei>6488S3A83U2SRQ48O215</lei>
        <title>Trump Media &amp; Technology Group Corp.</title>
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        <identifiers>
          <isin value="US25400Q1058"/>
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        <curCd>USD</curCd>
        <valUSD>68605.88000000</valUSD>
        <pctVal>0.992341917714</pctVal>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Twenty One Capital, Inc.</name>
        <lei>N/A</lei>
        <title>Twenty One Capital, Inc., Class A</title>
        <cusip>90138L109</cusip>
        <identifiers>
          <isin value="US90138L1098"/>
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        <balance>31913.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>136268.51000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cipher Digital Inc.</name>
        <lei>254900QABG5HCQZ28A17</lei>
        <title>Cipher Digital Inc.</title>
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          <isin value="US17253J1060"/>
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        <valUSD>159855.84000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TeraWulf Inc.</name>
        <lei>254900CVMW1SX2T78A64</lei>
        <title>TeraWulf Inc.</title>
        <cusip>88080T104</cusip>
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          <isin value="US88080T1043"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="114582.60000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bakkt, Inc.</name>
        <lei>N/A</lei>
        <title>Bakkt, Inc.</title>
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          <isin value="US05759B3050"/>
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        <balance>19903.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>142704.51000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="143614.32000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Forum Markets, Inc.</name>
        <lei>98450063A2D8EF54EB11</lei>
        <title>Forum Markets, Inc.</title>
        <cusip>68236V401</cusip>
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          <isin value="US68236V4014"/>
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        <balance>28234.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>145687.44000000</valUSD>
        <pctVal>2.107279341021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="150096.87000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Robinhood Markets, Inc.</name>
        <lei>213800FS5AO3YWIE6F63</lei>
        <title>Robinhood Markets, Inc., Class A</title>
        <cusip>770700102</cusip>
        <identifiers>
          <isin value="US7707001027"/>
        </identifiers>
        <balance>516.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44664.96000000</valUSD>
        <pctVal>0.646051213993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
