Fidelity Wise Origin Bitcoin Fund (FBTC), a passively managed trust seeking to track bitcoin’s performance after expenses, ended September 30, 2026, with approximately $15.3 billion in net assets, compared with approximately $17.6 billion on December 31, 2025. It held 183,167 bitcoin, recorded at a GAAP fair value of $15.331 billion, and its NAV was $72.80 per share. Shares outstanding were 210,553,476 at quarter-end, versus 231,403,476 at year-end.
For the nine months, operations reduced net assets by $1.121 billion, reflecting $1.615 billion of unrealized depreciation on bitcoin, partly offset by $735.4 million of realized gain on bitcoin distributed for redemptions. NAV total return was -4.48%, compared with 22.11% for the same 2025 period. In the third quarter, operations increased net assets by $4.225 billion, primarily from $4.091 billion of unrealized bitcoin appreciation.
The contractual Sponsor Fee is 0.25% of Bitcoin Holdings, accrued daily and payable monthly in bitcoin or cash. The Trust’s investment strategy holds bitcoin alone; it states that losses from a bitcoin price decline would not be offset by gains from diversified assets.
Fidelity Wise Origin Bitcoin Fund, an exchange-traded product holding bitcoin, reported sharply lower results for the six months ended June 30, 2026 as bitcoin prices declined. Net assets fell from $17.64 billion at December 31, 2025 to $10.30 billion, while shares outstanding decreased to 200.3 million.
The quantity of bitcoin held declined from 201,684 to 174,383, driven by redemptions and transfers to pay the Sponsor fee. NAV per share dropped from $76.21 to $51.44, a total return at NAV of (32.51)% for the six-month period, primarily reflecting a $5.71 billion net unrealized depreciation on bitcoin.
Operations produced a net decrease in net assets of $5.35 billion for the six months. The Trust charges a unified Sponsor fee of 0.25% of Bitcoin Holdings and shows an annualized expense ratio of 0.24%. It uses no leverage or derivatives, reports effective disclosure controls, and discloses no legal proceedings or new risk factors.
Fidelity Wise Origin Bitcoin Fund reports first‑quarter 2026 results that closely track a sharp drop in bitcoin. Net assets fell from $17.6 billion as of December 31, 2025 to $12.8 billion as of March 31, 2026, mainly due to lower bitcoin prices and net share redemptions.
NAV per share declined from $76.21 to $59.33, a total return at NAV of (22.15)% for the quarter. The Trust’s bitcoin holdings decreased from 201,684 to 188,144 bitcoin, reflecting creations and redemptions. Operating expenses remain limited to a 0.25% annual Sponsor Fee, and no leverage, derivatives, or new risks were introduced.
Fidelity Wise Origin Bitcoin Fund files its annual report describing how it provides exchange-traded exposure to bitcoin. The Delaware statutory trust seeks to track the price of bitcoin in U.S. dollars using the Fidelity Bitcoin Reference Rate, adjusted for expenses and liabilities.
The Trust holds only bitcoin, custodied by Fidelity Digital Assets, N.A., and does not use derivatives or active management. Shares trade on Cboe BZX under the symbol FBTC and are created and redeemed in Baskets of 25,000 Shares, either in bitcoin or cash via Authorized Participants.
The Index uses volume-weighted median prices from multiple spot markets, updated every 15 seconds, to support daily NAV calculations. The Trust charges a unified 0.25% annual Sponsor Fee on Bitcoin Holdings and emphasizes extensive risk factors, including bitcoin’s price volatility, custody and key-security risks, index-pricing risks, and significant regulatory uncertainty. As of June 30, 2025, shares held by non-affiliates had an aggregate market value of $21,502,562,250, and 214,578,476 Shares were outstanding as of February 20, 2026.
Fidelity Wise Origin Bitcoin Fund entered a new Custodial Services Agreement with BitGo Bank & Trust, N.A. to provide custody and safekeeping for the fund’s bitcoin. The existing custody arrangement with Fidelity Digital Assets, N.A. remains in place, and the sponsor currently has no plans to move any bitcoin to BitGo.
BitGo’s liability is capped, generally to fees paid or payable for the prior three months, with liability for gross negligence limited to the value of affected bitcoin. The fund must indemnify BitGo for certain third-party claims related to use of its custodial services. Either party can terminate the agreement on advance written notice, and New York law governs.
Effective February 2, 2026, Heather Bonner resigned as Treasurer and Principal Financial and Accounting Officer of the sponsor, without any disagreement about operations, policies, or practices. Craig S. Brown, a Vice President at Fidelity Investments, was appointed to succeed her in that role.
Fidelity Wise Origin Bitcoin Fund (FBTC) reported Q3 2025 results showing growth alongside bitcoin’s price. Net assets were $23.273 billion as of September 30, 2025, with investment in bitcoin at fair value of $23.278 billion and GAAP net asset value (NAV) per share of $99.59. Shares outstanding were 233,678,476 as of September 30, 2025.
The fund is passively managed, holds bitcoin directly, and does not use leverage or derivatives. During Q3, operations added $1.372 billion to net assets, driven by $1.397 billion of unrealized appreciation on bitcoin. Creations and redemptions resulted in a net increase of 2,950,000 shares for the quarter (29,825,000 issued; 26,875,000 redeemed). The trust held 203,794 bitcoin at quarter end. For the nine months ended September 30, 2025, operations added $3.890 billion, and total return at NAV was 22.11%. The Sponsor Fee is 0.25% of Bitcoin Holdings, with the prior waiver having ended on July 31, 2024.