About Fidelity Wise Origin Bitcoin Fund
Fidelity Wise Origin Bitcoin Fund trades under FBTC on Cboe BZX. It holds bitcoin and seeks to track its performance as measured by the Fidelity Bitcoin Reference Rate, after the trust's expenses and other liabilities. The reference rate uses eligible bitcoin spot market prices and a volume weighted median method described in the prospectus. That pricing process is part of the product's design, rather than a promise that the share price will match every quote from a crypto exchange. Investors hold listed shares representing interests in the trust's net assets. [prospectus] [issuer]
FD Funds Management LLC is the sponsor. Fidelity's offering documents identify the trustee, transfer agent, cash custodian and digital asset custodian and describe how their responsibilities fit together. The April 2026 prospectus names Fidelity Digital Assets, N.A., formerly Fidelity Digital Asset Services, LLC, as custodian, and identifies an additional custody arrangement. These details illustrate why an older service provider name can remain in earlier filings. The legal identity and the period of the document matter when interpreting those names. [prospectus] [annual]
FBTC gives exposure through a brokerage security while its bitcoin remains within the trust's custody arrangements. A shareholder does not choose the trust's bitcoin addresses or receive personal control of its private keys. The trust calculates net asset value using its documented valuation method, while exchange trading establishes the share market price. The two figures can differ. The product's financial reports explain its assets, liabilities, expenses and share transactions for dated periods. Those reports help a reader understand changes in the vehicle rather than treating the number of shares alone as a direct count of bitcoin. [annual] [issuer]
The SEC records here follow FBTC's own verified CIK. They are distinct from filings for other Fidelity crypto funds or products that may themselves hold FBTC shares. An annual report, quarterly report and prospectus serve different purposes; a filing date can follow the period covered by the accounts. The issuer explains that FBTC is not registered under the Investment Company Act of 1940 and that bitcoin exposure carries substantial risks. Institutional positions reported on Form 13F are a separate source, with delayed reporting and incomplete ownership coverage, so they cannot establish who holds FBTC today. [prospectus] [issuer]
Fund explanation reviewed 2026-10-15. Filing checks do not change this editorial review date.