FBTC — Fidelity Wise Origin Bitcoin Fund

FBTC Price Performance — Growth of $10,000

Value of a $10,000 investment in FBTC over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

FBTC Drawdown

The "underwater" chart: FBTC's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Fidelity Wise Origin Bitcoin Fund is a crypto asset managed by Fidelity Investments with $15.5 billion in assets under management. It holds the second position among 11 funds in its category and ranks 416th out of 458 tracked ETFs overall. The fund carries an ETFValuer grade of D, reflecting a score of 40.4 out of 100. Its expense ratio of 0.25% aligns exactly with the category median, while it offers no dividend yield compared to a median of 1.88%. Holdings data is not available for this fund.

The fund’s price of $70.61 sits at 39.6% of its 52-week range, indicating a position closer to the lower end of recent trading levels. Short-term performance shows a 1-month decline of 3.81%, contrasting with a 3-month gain of 24.95%. Over the past year, the fund returned -24.85%, which is marginally better than the category median of -24.91%. The rating has remained at grade D for the last 35 tracked days. Historical analysis is limited by only 2.8 years of price data, preventing the establishment of a three-year return record.

Annualized volatility of 44.89% is classified as Very High, suggesting significant price fluctuations. The Sharpe ratio of -0.66 indicates that risk-adjusted returns have been negative. Maximum drawdowns have reached -53.35%, highlighting substantial potential for capital loss. Beta data is not provided, so relative market movement cannot be quantified. Liquidity is supported by an average daily volume of 3,622,575 shares.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FBTC Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 3.6M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $15.5B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FBTC is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

FBTC Performance History

How FBTC Compares to Other Crypto ETFs