Invesco has launched a sterling-hedged equivalent of its physical gold ETC, which seeks to provide the performance of the gold price, less the annual fee and hedging costs.
The ETC will utilise a "daily hedging mechanism" to minimise currency risk and will settle this through physical gold as opposed to cash, leaving the ETF fully invested in gold.
Physical gold bars are stored in the London vaults of JP Morgan Chase Bank and the product uses a "swing bar" method, meaning it will always hold "at least the full value" of assets invested.
The Invesco Physical Gold GBP Hedged ETC features an annual fixed fee of 0.19% and a hedging cost of 0.25%.
Chris Mellor, head of ETF equity and commodity product management at Invesco, said: "Many investors this year have told us they want exposure to the gold price but not the currency risk attached to a US dollar asset.
"We are now able to offer these investors currency-hedged versions of the Invesco Physical Gold ETC, our largest exchange-traded product in Europe."