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 (FBTC) is a cryptocurrency-focused exchange-traded fund issued by Fidelity Investments. It currently holds an asset base of $10.2 billion and trades at a price of $55.54 per share. Within the Crypto category, which ETFValuer tracks 11 funds, FBTC holds an overall rank of #431 out of 458 tracked ETFs across all categories. The fund has received an ETFValuer grade of D, reflecting a score of 35.7 out of 100. Investors face an annual expense ratio of 0.25% and receive no dividend income, as the current yield stands at 0.00%. The substantial asset under management suggests significant investor adoption despite the fund's lower ranking and grade relative to the broader market.

Recent performance data shows a sharp decline over the past year, with the fund down 45.53% over the last 12 months. Short-term movements have been volatile, recording a 1.72% drop in the last day and a 3.96% loss over the past week. However, a brief recovery occurred over the last month, where the fund posted a 6.85% gain. This short-term improvement contrasts with the broader negative trend seen over longer horizons, as the fund has fallen 17.04% over three months and 27.17% over six months. Year-to-date returns are currently negative at -28.97%, indicating a sustained period of underperformance. Data for the three-year return is not available.

The fund carries a Very High volatility label, indicating significant price fluctuations compared to more stable assets. A Sharpe ratio of -1.14 suggests that the returns generated have not compensated investors for the level of risk taken during the measured period. The maximum drawdown of -53.35% highlights the potential for severe capital loss during market downturns. Beta data is not provided for this fund, limiting direct comparison of its systematic risk relative to a benchmark. The combination of a negative Sharpe ratio and a deep maximum drawdown implies that the fund has experienced substantial declines without sufficient offsetting gains to justify the risk exposure.

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

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — 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): 18.67 (as of 2026-07-27) — 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: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FBTC Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 4.1M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $10.2B 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