Fidelity Wise Origin Bitcoin Fund reported significant financial growth in its latest 10-Q filing for the quarter ending June 30, 2025. The Trust's total net assets increased to approximately $21.6 billion, up from $18.8 billion at the end of the previous fiscal period. This growth was primarily driven by a rise in the fair value of its bitcoin holdings, which reached $21.6 billion, compared to $18.8 billion at the end of 2024. The net asset value (NAV) per share also saw a substantial increase, rising from $81.56 to $93.55, reflecting a 14.70% increase over the six-month period.
The Trust's operational metrics indicate a notable increase in share activity, with outstanding shares rising from 230,678,476 at the end of December 2024 to 230,728,476 by June 30, 2025. During the quarter, the Trust issued 27,975,000 shares while redeeming 22,775,000 shares. The increase in share count was complemented by a 29.25% rise in the price of bitcoin, which climbed from $82,956.00 to $107,221.67 during the same period. The Trust's bitcoin holdings slightly decreased from 201,556 to 201,347 bitcoins, attributed to redemptions and transfers to cover sponsor fees.
In terms of expenses, the Trust reported a sponsor fee of $12.6 million for the quarter, up from $6.5 million in the same period last year. The total expenses before waivers amounted to $12.6 million, reflecting the increased operational scale. The net investment loss for the quarter was $(12.6 million), while the net realized and change in unrealized gain on bitcoin investments was $4.77 billion, leading to a net increase in net assets resulting from operations of $4.76 billion.
Looking ahead, the Trust's management remains optimistic about its performance, citing the potential for continued growth in bitcoin prices and increased investor interest in digital assets. However, they caution that future results may be influenced by market volatility and regulatory developments. The Trust's strategy remains focused on tracking the performance of bitcoin, and it continues to operate without leveraging or engaging in derivative transactions, maintaining a passive management approach.
About Fidelity Wise Origin Bitcoin Fund
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