Fidelity Investments holds approximately 180,000+ BTC through its Wise Origin Bitcoin Fund (FBTC), making it the second-largest US spot Bitcoin ETF by holdings after BlackRock’s IBIT. At a BTC price of $80,000, that’s roughly $14 billion in Bitcoin.
Current Fidelity Bitcoin holdings
FBTC holds approximately 180,000-200,000 BTC as of mid-2026. The number shifts daily with creation and redemption flow. For live data see our Bitcoin treasury tracker.
Fidelity’s positioning reflects its distinctive approach among spot Bitcoin ETF issuers: Fidelity Digital Assets handles custody in-house rather than using Coinbase Prime (the custodian for most competitors). This matters because it eliminates the custody-concentration risk that would otherwise exist if most institutional Bitcoin sat with a single provider.
The Wise Origin Bitcoin Fund (FBTC)
FBTC launched January 11, 2024 alongside 10 other spot Bitcoin ETFs. Key specs:
- Ticker: FBTC
- Exchange: Cboe BZX
- Management fee: 0.25% (fee-waived to 0% initially, now at standard rate)
- Custodian: Fidelity Digital Assets (self-custody)
- AUM (mid-2026): $13-15B
- Creation unit size: 5,000 shares
From a shareholder perspective, FBTC functions identically to other spot Bitcoin ETFs: each share represents a fractional claim on the underlying Bitcoin held by the fund.
Fidelity’s broader Bitcoin involvement
FBTC isn’t Fidelity’s first Bitcoin product. The firm has been building crypto infrastructure since:
- 2014: Internal Bitcoin mining operation (research project)
- 2018: Launched Fidelity Digital Assets (institutional custody)
- 2020-2021: Bitcoin-focused research reports positioning BTC as a strategic asset
- 2022: Enabled Bitcoin allocation within 401(k) plans through DAIM partnership
- 2024: FBTC spot ETF launch
- 2024-2025: Expanded to Ethereum with FETH spot ETH ETF
The Digital Assets research team led by Jurrien Timmer and others has published consistently bullish Bitcoin thesis content, influencing both institutional allocator positioning and the broader retail crypto conversation.
How Fidelity’s custody differs
Fidelity Digital Assets custody differs from Coinbase Prime (used by most competitors) in several ways:
Integrated infrastructure: FDAS is a subsidiary of Fidelity, not a third-party provider. The custody arrangement is intra-corporate rather than contractual.
Longer operational track record: FDAS has been operating institutional Bitcoin custody since 2018 — six years before FBTC launched, during which time it built out cold storage, audit procedures, and insurance.
Brand-integrated trust: Fidelity’s 75+ year brokerage reputation extends to crypto custody for clients who prefer to keep everything under one institutional roof.
For investors evaluating FBTC vs IBIT, the custody question is one of the few substantive differentiators between the two products.
Comparing FBTC to other spot Bitcoin ETFs
| ETF | Sponsor | BTC held (2026) | Custodian | Fee |
|---|---|---|---|---|
| IBIT | BlackRock | 800,000+ | Coinbase Prime | 0.25% |
| FBTC | Fidelity | 180,000+ | Fidelity Digital Assets | 0.25% |
| ARKB | Ark 21Shares | 40,000+ | Coinbase Prime | 0.21% |
| BITB | Bitwise | 35,000+ | Coinbase Prime | 0.20% |
| HODL | VanEck | 12,000+ | Gemini | 0.20% |
FBTC’s second-place positioning behind IBIT has been consistent since the ETFs launched. IBIT’s AUM lead is structural — BlackRock’s distribution network, marketing, and institutional relationships give it the flow advantage that’s been hard for competitors to close.
What Fidelity’s holdings mean
Fidelity’s position represents institutional allocator adoption through retirement and taxable accounts. Unlike Strategy’s treasury allocation (permanent corporate holdings) or BlackRock’s IBIT (largest ETF by flow), FBTC reflects Fidelity-specific client demand — retirees, IRA holders, institutional plan participants.
The steady growth trajectory suggests long-duration allocator behavior rather than speculative trading. FBTC hasn’t seen the large day-to-day flow swings that characterize some crypto products.
Related reading
- Bitcoin treasury tracker — live holdings across all major institutional holders
- How much Bitcoin does BlackRock own? — the largest institutional holder
- How much Bitcoin does Strategy own? — the largest corporate treasury holder
- How crypto ETF flows work — reading ETF flow data
- Is Bitcoin a good investment in 2026? — the allocation framework
- Live crypto prices
- Crypto market overview
- Crypto glossary
Fidelity’s Bitcoin holdings are smaller in absolute terms than BlackRock’s but represent a different and arguably more durable source of institutional demand — retirement and long-term allocator money flowing into Bitcoin through a brand many investors have trusted for decades. The 180,000+ BTC sitting in FBTC is the visible metric; what matters longer-term is the distribution relationship backing it.
This article is for informational purposes only and is not financial advice. Cryptocurrency investments carry substantial risk, including total loss. Do your own research and never invest more than you can afford to lose.
