FBTC Fidelity Wise Origin Bitcoin Fund

13F holders, quarter ending 2026-06-30 13F data can be up to 45 days old

620 institutions reported FBTC: 70 new since 2026-03-31, 95 sold out.

Largest that sold out: D. E. Shaw & Co., Inc. ($14.0M), Private Advisor Group, LLC ($9.4M), BNC WEALTH MANAGEMENT, LLC ($8.0M), CWM, LLC ($6.1M), EXENCIAL WEALTH ADVISORS, LLC ($4.7M), Strategic Financial Planning, Inc. ($4.3M), Eaton Financial Holdings Company, LLC ($4.2M), INTERCAPITAL, LLC ($2.8M).

Prospectus

424B3 filed 2026-04-29 against 424B3 filed 2025-07-31: 9.9% of the text changed, 26 new paragraphs, 28 removed. Paragraphs about fees, staking, custody, the index and creations come first. new ↗ · old ↗

Most edited paragraph

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+ of cold storage. The Sponsor has no control over the percentage of bitcoin that the Custodian maintains in omnibus cold wallets versus omnibus hot wallets.

+ The Trust is not required to hold any particular amount of assets at either the Custodian or the Additional Custodian, and the Sponsor will, in its sole discretion, determine the amounts held at either bitcoin custodian from time to time as permitted by the Trust Agreement. As of the date of this prospectus, the Sponsor has no plans to move any of the Trust’s bitcoin to the Additional Custodian. The addition of the Additional Custodian as an available alternative custodian reflects the Sponsor’s ongoing risk management approach, which is consistent with its overall global business practices, in response to the Trust’s growing size and the Sponsor’s expanding presence in the digital asset space.

+ governing the creation and offering of the Shares and storage of bitcoin have been developed specifically for this product;

+ The Trust is not required to hold any particular amount of assets at either the Custodian or the Additional Custodian, and the Sponsor will, in its sole discretion, determine the amounts held at either bitcoin custodian from time to time as permitted by the Trust Agreement. As of the date of this prospectus, the Sponsor has no plans to move any of the Trust’s bitcoin to the Additional Custodian, though such plans are subject to ongoing review. The addition of the Additional Custodian as an available alternative custodian reflects the Sponsor’s ongoing risk management approach, which is consistent with its overall global business practices, in response to the Trust’s growing size and the Sponsor’s expanding presence in the digital asset space.

+ BitGo serves as the Trust’s Additional Custodian and is available to custody the Trust’s bitcoin in the event the Sponsor determines it is advisable to utilize the Additional Custodian’s services.

+ The Trust will not invest in derivatives. The Sponsor believes that the Shares are designed to provide investors with a cost-effective and convenient way to invest in bitcoin without purchasing, holding and trading bitcoin directly.

+ On March 17, 2026, the SEC and CFTC, under the leadership of SEC Chairman Paul S. Atkins and CFTC Chairman Michael S. Selig, jointly issued a landmark interpretive release titled “Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets” (the “Interpretation”). The Interpretation supersedes the SEC’s prior 2019 staff-level digital asset framework and is binding on both agencies’ enforcement and supervisory staff. The Interpretation establishes a five-category token taxonomy for crypto assets (digital commodities, digital collectibles, digital tools, stablecoins, and digital securities) and, consistent with prior SEC and CFTC staff statements, confirms that bitcoin is a “digital commodity” and not a security under federal securities laws. As an interpretive release (rather than formal rulemaking under the Administrative Procedure Act), the Interpretation does not carry the binding force of a statute or regulation, courts are not required to defer to its conclusions, and it may be modified or withdrawn by a future administration.

+ In addition, Congress continues to consider potential legislation designed to comprehensively regulate the digital asset industry in the U.S. The CLARITY Act, which passed the House of Representatives with bipartisan support in July 2025 but had not yet passed the full Senate as of the date of this Prospectus, would, if enacted,

Removed

− As of the date of this Prospectus, the Trust only creates and redeems Shares in exchange for cash. If the Trust were to create or redeem shares in exchange for bitcoin, the Trust would first need to seek certain regulatory approvals, including an amendment to the Exchange’s listing rules and an amendment to the Trust’s registration statement of which this Prospectus forms a part. There can be no guarantee that the Trust will be successful in obtaining such regulatory approvals, and the timing of any such approvals is unknown. If the Trust is successful in obtaining the necessary regulatory approvals to allow for creations and redemptions in kind, the Trust will notify Shareholders in a prospectus supplement and/or a current report on Form 8-K or in its annual or quarterly reports.

− The Trust and the Sponsor face competition with respect to the creation of competing products. The Sponsor’s competitors may have greater financial, technical and human resources than the Sponsor. Smaller or early-stage companies may also prove to be effective competitors, particularly through collaborative

− In addition, to the extent that the Trust incurs transaction expenses in connection with the creation and redemption process, litigation expenses, indemnification obligations under the Trust’s service provider agreements and other Extraordinary Expenses that are not Sponsor-paid Expenses, such expenses will be borne by the Trust. To the extent that the Trust fails to attract a sufficiently large amount of investors, the effect of such expenses on the value of the Shares may be significantly greater than would be the case if the Trust had attracted more assets.

− Several other bills have advanced through Congress to curb crypto as a payment gateway for illicit activity and money laundering. The “Blockchain Regulatory Clarity Act” would provide clarity to the regulatory classification of digital assets, providing market certainty for innovators and clear jurisdictional boundaries for regulators by affirming that blockchain developers and other related service providers that do not custody customer funds are not money transmitters. The “Financial Technology Protection Act”, another bipartisan measure, would set up an independent Financial Technology Working Group to combat terrorism and illicit financing in cryptocurrency. The “Blockchain Regulatory Certainty Act” aims to protect certain blockchain platforms from being designated as money-services businesses. Both acts advanced through the House with bipartisan support.

− The Custodian agrees to exercise the reasonable care of a professional custodian for hire. In no event will the Custodian be responsible or liable for any loss, claim or damage suffered by the Client, except to the extent of

− The Trust is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). For as long as the Trust is an emerging growth company, unlike other public companies, it will not be required to, among other things: (i) provide an auditor’s attestation report on management’s assessment of the effectiveness of its system of internal control over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act of 2002; or (ii) comply with any new audit rules adopted by the PCAOB after April 5, 2012, unless the SEC determines otherwise.

− The Trust will cease to be an “emerging growth company” upon the earliest of (i) it having $1.235 billion or more in annual revenues, (ii) at least $700 million in market value of Shares being held by non-affiliates, (iii) it issuing more than $1.0 billion of non-convertible debt over a three-year period or (iv) the last day of the fiscal year following the fifth anniversary of its initial public offering.

− In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 (the “1933 Act”) for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Trust intends to take advantage of the benefits of the extended transition period.