Fidelity Wise Origin Bitcoin Fund reported significant financial growth in its latest 10-Q filing for the quarter ending September 30, 2025. The Trust's total net assets surged to approximately $23.3 billion, up from $18.8 billion at the end of the previous fiscal year. This increase was primarily driven by a rise in the fair value of its bitcoin holdings, which reached $23.3 billion, compared to $18.8 billion at the end of 2024. The net asset value (NAV) per share also saw a notable increase, rising to $99.59 from $81.56 over the same period.
In terms of operational metrics, the Trust's outstanding shares increased from 230,678,476 at the end of 2024 to 233,678,476 by September 30, 2025. This growth was attributed to the issuance of 29,825,000 shares and the redemption of 26,875,000 shares during the quarter. The price of bitcoin also played a crucial role, climbing 22.34% from $93,365.36 at the end of 2024 to $114,223.01 by the end of the reporting period. The Trust's quantity of bitcoin held increased from 201,556 to 203,794, reflecting ongoing capital share transactions.
The Trust's financial performance for the quarter included a net increase in net assets resulting from operations of $1.4 billion, primarily due to a net change in unrealized appreciation on bitcoin investments amounting to $1.4 billion. In contrast, the Trust reported a net investment loss of $14.4 million for the quarter, which was a significant increase from a loss of $4.5 million in the same quarter of the previous year. The sponsor fee also rose to $14.4 million from $6.8 million year-over-year, reflecting the increased scale of operations.
Strategically, the Trust continues to focus on its core objective of tracking the performance of bitcoin through the Fidelity Bitcoin Reference Rate. The Trust is passively managed and does not engage in active trading or leverage, which aligns with its investment strategy. The filing indicates that the Trust has not made any significant acquisitions or organizational changes during the reporting period, maintaining its focus on bitcoin as its sole investment asset.
Looking ahead, the Trust's management remains optimistic about future performance, citing the potential for continued growth in bitcoin value and increased investor interest in digital assets. However, they caution that actual results may vary due to market volatility and other external factors. The Trust's ongoing strategy will involve monitoring market conditions closely and adjusting its operations as necessary to align with its investment objectives.
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.
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