(FBTC) Fidelity Wise Origin - Ratings and Ratios

The Fidelity Wise Origin Bitcoin Trust (BATS:FBTC) is designed to track the performance of Bitcoin through a unique indexing methodology. The index is constructed using price feeds from eligible Bitcoin spot markets and employs a volume-weighted median price (VWMP) approach. This methodology calculates the VWMP every 15 seconds, based on spot market data over rolling 60-minute intervals, ensuring a robust and accurate representation of Bitcoins market price. The trust aims to replicate the index by holding Bitcoin directly, with all assets secured by a custodian. The trusts shares are valued daily at 4:00 p.m. EST using the same VWMP methodology as the index, ensuring consistency and transparency in pricing.

As a Bitcoin-focused ETF, FBTC provides investors with exposure to Bitcoin without directly holding the cryptocurrency. The trusts structure allows it to operate within traditional financial markets while maintaining the integrity of Bitcoins value. The use of VWMP is particularly notable, as it helps mitigate potential market manipulation by focusing on the median price across multiple exchanges, rather than a simple average. This approach can provide a more stable and reliable benchmark for Bitcoins value. Additionally, the trusts daily valuation ensures that investors receive up-to-date pricing, aligning with the rapid pace of Bitcoins market movements.