Invesco CurrencyShares Swiss Franc Trust is a grantor trust that issues shares representing fractional undivided interests in its holdings of Swiss Francs. The trust provides investors with a simple and cost-effective way to gain exposure to the Swiss Franc through an exchange-traded security. Shares are bought and sold on NYSE Arca like any other listed security and are designed to reflect the price in U. S. dollars of the Swiss Franc held by the trust, plus any accrued interest, less trust expenses.

The trust generates revenue primarily through the creation and redemption of shares in exchange for deposits and withdrawals of Swiss Francs. It does not engage in active trading or profit-seeking strategies related to currency fluctuations. Instead, the trust passively holds Swiss Francs in deposit accounts, and any interest earned on these deposits may contribute to the trust’s value, although recent interest rates have been negative. The Sponsor, Invesco Specialized Products, LLC, bears most of the trust’s ordinary expenses in exchange for a monthly fee, which is the only regular expense incurred by the trust.

The company operates through the following segments:

• Trust Operations: This segment involves the issuance and redemption of Shares in Baskets of 50,000 in exchange for Swiss Francs. The Trustee holds the deposited Swiss Francs in custodial accounts at JPMorgan Chase Bank, N. A., London Branch. The segment includes the calculation and publication of Net Asset Value each business day based on the Closing Spot Rate determined by The WM Company.

• Sponsor and Trustee Services: This segment covers the roles of Invesco Specialized Products, LLC as Sponsor and the Trustee in managing operational aspects of the trust. The Sponsor pays most ordinary expenses in exchange for a fee, while the Trustee handles NAV calculations, oversees deposit accounts, and processes share creations and redemptions. The Sponsor’s fee is the only ordinary expense of the trust during the reporting period.

Invesco CurrencyShares Swiss Franc Trust operates as a passive investment vehicle within the specialty currency exchange-traded product industry. It competes with other single-currency and multi-currency exchange-traded trusts and funds that offer exposure to foreign currencies. Its competitive advantage lies in its straightforward structure, transparency in holdings, and daily NAV publication, which allows investors to track the value of their investment relative to the Swiss Franc with minimal complexity.

The trust serves institutional and retail investors seeking exposure to the Swiss Franc as a haven currency or as part of a diversified investment strategy. Investors include those looking to hedge currency risk, gain foreign exchange exposure, or participate in currency markets without holding physical currency or using derivative products. Shares are held by a broad base of investors who trade them on NYSE Arca through brokerage accounts.