Key Takeaways
- • Fidelity Wise Origin Bitcoin Fund (FBTC) NAV declined to $69.20 per share as of May 13, 2026, down significantly from Q1 2026's $59.33, reflecting bitcoin's volatile price action and broader digital asset market pressure.
- • Net assets stood at $14.17 billion as of the May 14 close, up from $12.8 billion in Q1 2026, indicating fund inflows despite negative year-to-date performance of -9.09% on a daily total return basis.
- • FBTC's 52-week range of $54.21–$110.25 demonstrates extreme volatility characteristic of bitcoin-linked instruments; the fund holds approximately 188,144 BTC with a lean 0.25% net expense ratio.
- • YTD performance shows -9.09% daily total return as of May 13, 2026, while 1-year returns stand at 24.32%, signaling recovery from prior weakness but continued near-term headwinds in the crypto asset class.
Summary
Fidelity Wise Origin Bitcoin Fund (FBTC) is experiencing significant volatility aligned with broader bitcoin price movements. As of May 13, 2026, the fund's net asset value per share stood at $69.20, positioning the fund within a 52-week range of $54.21–$110.25 that underscores the inherent volatility of direct bitcoin exposure. The fund's net assets reached $14.17 billion by May 14's close, an increase from the $12.8 billion recorded in Q1 2026, despite challenging year-to-date performance.
Year-to-date returns present a mixed picture for institutional investors. FBTC posted a -9.09% daily total return through May 13, 2026, indicating headwinds in the current calendar year. However, 1-year returns of 24.32% demonstrate meaningful recovery from prior periods, and 3-year returns remain positive at 8.45%, suggesting the fund has delivered gains for longer-term holders despite cyclical volatility. This performance differential underscores the importance of investment horizon for bitcoin-linked fund strategies.
The fund's operational structure remains efficient for its mandate. With a net expense ratio of 0.25% and holdings of approximately 188,144 BTC, FBTC maintains lean cost structure typical of passive bitcoin exposure vehicles. Volume patterns show significant trading activity, with May 14 trading volume at 4.07 million shares against an average of 4.71 million, indicating institutional and retail participation. The fund's positioning reflects its design as a high-risk digital asset vehicle suitable only for investors with elevated risk tolerance, given bitcoin's liquidity and volatility profile.
Year-to-date returns present a mixed picture for institutional investors. FBTC posted a -9.09% daily total return through May 13, 2026, indicating headwinds in the current calendar year. However, 1-year returns of 24.32% demonstrate meaningful recovery from prior periods, and 3-year returns remain positive at 8.45%, suggesting the fund has delivered gains for longer-term holders despite cyclical volatility. This performance differential underscores the importance of investment horizon for bitcoin-linked fund strategies.
The fund's operational structure remains efficient for its mandate. With a net expense ratio of 0.25% and holdings of approximately 188,144 BTC, FBTC maintains lean cost structure typical of passive bitcoin exposure vehicles. Volume patterns show significant trading activity, with May 14 trading volume at 4.07 million shares against an average of 4.71 million, indicating institutional and retail participation. The fund's positioning reflects its design as a high-risk digital asset vehicle suitable only for investors with elevated risk tolerance, given bitcoin's liquidity and volatility profile.
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