Fidelity Wise Origin Bitcoin Fund

Fidelity Wise Origin Bitcoin Fund is a Delaware statutory trust that issues exchange-traded shares designed to track the price of bitcoin. It gives investors bitcoin exposure through a traditional brokerage account while the Trust itself holds bitcoin in custody and does not use derivatives or active trading strategies.

— Fidelity Wise Origin Bitcoin Fund
%
Exchange-traded bitcoin exposure100% Listed shares that provide investors with exposure to bitcoin price movements through a regulated brokerage account.
Custody and administration structure0% Operational services supporting safekeeping, transfer, valuation, and share issuance/redemption.

The Trust’s investors are brokerage clients and institutions that want bitcoin exposure without directly buying,...

  • Retail brokerage investorsprimary

    Buy listed shares for bitcoin exposure without managing wallets, private keys, or crypto exchanges.

  • Institutional allocatorsprimary

    Use the Trust as a regulated, exchange-traded vehicle for tactical or strategic bitcoin exposure.

  • Authorized Participantsprimary

    Create and redeem baskets of shares in exchange for bitcoin or cash to keep market price aligned with NAV.

  • Secondary-market traderssecondary

    Trade shares on Cboe BZX for liquidity, price discovery, and short-term exposure management.

The Trust is organized in Delaware and listed in the United States, with trading on Cboe BZX and reporting under U.S...

  • •Delaware statutory trust with U.S. securities-law reporting
  • •Listed and traded on Cboe BZX Exchange in the United States
  • •Custody and administration handled by U.S.-based service providers
  • •Underlying bitcoin exposure is global, but pricing is in U.S. dollars
  • •Regulatory and tax exposure is primarily U.S.-driven

The Trust’s strategy is to provide low-friction, passive bitcoin exposure that closely tracks the reference index after...

01
Maintain tight tracking to bitcoinshort-term

The Trust’s value proposition depends on minimizing tracking error versus the reference rate and spot bitcoin.

02
Preserve custody and operational integrityshort-term

Secure custody and reliable transfer/redemption processes are essential for investor confidence and product continuity.

03
Expand access through traditional brokerage channelsmedium-term

The Trust competes by making bitcoin available in a familiar listed-security format.

The Trust is highly exposed to bitcoin price volatility, which can drive large swings in NAV and market price...

critical

Bitcoin price volatility

The Trust’s assets are concentrated in bitcoin, so changes in bitcoin price directly drive NAV and investor returns.

Scope
Entire portfolio
Materiality
high
high

Tracking error versus reference rate

Fees, transaction costs, creation/redemption timing, and pricing differences can cause performance to diverge from bitcoin.

Scope
NAV and market price performance
Materiality
high
high

Custody and cybersecurity risk

All bitcoin is held by the custodian, so operational or cyber incidents could disrupt access or valuation.

Scope
Asset safekeeping
Materiality
high
high

Regulatory and AML/KYC risk

Digital asset markets face evolving regulation and sanctions/AML scrutiny that could affect counterparties and trading access.

Scope
Authorized Participants and counterparties
Materiality
medium
medium

Sponsor conflict of interest

The Sponsor and affiliates may have interests that differ from shareholders, affecting decisions and resource allocation.

Scope
Governance and administration
Materiality
medium
Fair value measurement of bitcoin
Can materially change reported asset value and unrealized gains/losses
Principal market determination
Affects daily NAV and comparability across periods
Sponsor fee accrual
Impacts operating expenses and net asset value
Realized versus unrealized bitcoin gains/losses
Affects reported results of operations

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: 28.4.2026