Fidelity Wise Origin Bitcoin Fund reported a significant decline in its financial performance for the six months ending June 30, 2026, with net assets decreasing from approximately $17.6 billion at the end of 2025 to $10.3 billion. This decline was primarily attributed to a decrease in the price of bitcoin, which fell 32.43% from $87,463.03 to $59,101.49 during the period. The Trust's net investment loss for the six months was $5.3 billion, driven by a net change in unrealized depreciation on bitcoin investments of $5.7 billion and a net realized loss of approximately $0.2 billion from bitcoin sales for redemptions.

In comparison to the previous fiscal period, the Trust's net assets had increased from approximately $18.8 billion to $21.6 billion during the first half of 2025. The current period's results reflect a stark contrast, with the number of outstanding shares decreasing from 231,403,476 to 200,328,476 due to 49,450,000 shares being created and 80,525,000 shares redeemed. The net asset value (NAV) per share also fell by 32.50%, from $76.21 to $51.44, indicating a substantial drop in shareholder value.

Operationally, the Trust's bitcoin holdings decreased from 201,684 to 174,383 during the six-month period, reflecting the impact of redemptions and the transfer of bitcoin to cover sponsor fees. The Trust's engagement metrics showed a significant reduction in share transactions, with a net decrease in shares outstanding of 31,075,000 for the six months. The Trust's strategy remains focused on tracking the performance of bitcoin, and it continues to operate as a passively managed investment vehicle.

Looking ahead, the Trust's management has indicated that it will continue to monitor market conditions closely, particularly the volatility of bitcoin prices, which can significantly impact its financial performance. The Trust does not anticipate any major changes to its operational strategy, as it remains committed to providing a cost-effective way for investors to gain exposure to bitcoin without directly purchasing the asset. The management's outlook suggests a cautious approach, given the current market dynamics and the inherent risks associated with bitcoin investments.

About Fidelity Wise Origin Bitcoin Fund

The Fidelity Wise Origin Bitcoin Fund is an exchange-traded trust that provides investors exposure to bitcoin by holding and valuing its digital assets based on a proprietary index. It facilitates access to bitcoin markets through a regulated structure, offering liquidity, transparency, and security without direct ownership or transfer of bitcoin. The fund operates passively, tracking bitcoin’s performance and ensuring compliance with regulatory standards.

This description was generated via AI from an annual report. Updated about 1 year ago.

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