Key Takeaways
- • Lansing Street Advisors initiated a position in Fidelity Wise Origin Bitcoin Fund (FBTC) in the fourth quarter of 2025, with one subsequent purchase documented through early 2026.
- • The fund accumulated 41,375 shares of FBTC at an average purchase price of $87.02 per share, representing a total investment position.
- • FBTC trades near $62.56 as of April 9, 2026, indicating significant depreciation from Lansing Street Advisors' entry price, reflecting broader bitcoin price volatility during the period.
- • The Fidelity Wise Origin Bitcoin Fund tracks bitcoin performance adjusted for fund expenses and operates as a institutional-grade vehicle for digital asset allocation by investment advisors.
- • Major institutional shareholders in FBTC include Millennium Management, Jane Street Group, Schonfeld Strategic Advisors, and other prominent quantitative and alternative asset managers.
Summary
Lansing Street Advisors established its position in the Fidelity Wise Origin Bitcoin Fund (FBTC) in the fourth quarter of 2025, subsequently making one additional purchase through the first quarter of 2026. The investment advisory firm accumulated a total of 41,375 shares at an average purchase price of $87.02 per share, representing a cumulative capital commitment to the bitcoin-tracking ETF vehicle.
The timing of Lansing Street's acquisition coincided with FBTC's emergence as a institutional-grade solution for advisors seeking seamless integration of digital assets into client portfolios. The fund's stated objective is to track bitcoin performance as measured by its underlying index, adjusted for the Trust's operational expenses and liabilities. This structure provides institutional investors with a regulated, ETF-wrapped exposure to bitcoin without direct custody or operational complexity.
The fund's performance trajectory from entry to April 2026 reflects significant headwinds for bitcoin positions initiated during late 2025. Trading at $62.56 as of April 9, 2026, FBTC has declined approximately 28% from Lansing Street Advisors' average entry price of $87.02, underscoring the volatility inherent in digital asset allocations during this period. The fund's net asset value stood at $62.75 as of the reference date, with a previous close of $62.83.
FBTC has attracted substantial institutional participation, with major shareholders including Millennium Management, Jane Street Group, Schonfeld Strategic Advisors, Capula Management, Cantor Fitzgerald, Graham Capital Management, ParaFi Capital, Susquehanna International Group, and LMR Partners. This concentration of sophisticated quantitative and alternative asset managers suggests institutional confidence in the ETF structure as a vehicle for bitcoin exposure allocation, despite recent price depreciation.
The timing of Lansing Street's acquisition coincided with FBTC's emergence as a institutional-grade solution for advisors seeking seamless integration of digital assets into client portfolios. The fund's stated objective is to track bitcoin performance as measured by its underlying index, adjusted for the Trust's operational expenses and liabilities. This structure provides institutional investors with a regulated, ETF-wrapped exposure to bitcoin without direct custody or operational complexity.
The fund's performance trajectory from entry to April 2026 reflects significant headwinds for bitcoin positions initiated during late 2025. Trading at $62.56 as of April 9, 2026, FBTC has declined approximately 28% from Lansing Street Advisors' average entry price of $87.02, underscoring the volatility inherent in digital asset allocations during this period. The fund's net asset value stood at $62.75 as of the reference date, with a previous close of $62.83.
FBTC has attracted substantial institutional participation, with major shareholders including Millennium Management, Jane Street Group, Schonfeld Strategic Advisors, Capula Management, Cantor Fitzgerald, Graham Capital Management, ParaFi Capital, Susquehanna International Group, and LMR Partners. This concentration of sophisticated quantitative and alternative asset managers suggests institutional confidence in the ETF structure as a vehicle for bitcoin exposure allocation, despite recent price depreciation.
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