(FBTC) Fidelity Physical Bitcoin - Ratings and Ratios

The Fidelity Physical Bitcoin ETP (XETRA: FBTC) is a physically-backed Bitcoin exchange-traded product designed to track the price of Bitcoin. Listed on XETRA, a leading European exchange, FBTC offers exposure to Bitcoin through a traditional ETF structure, bridging the gap between digital assets and conventional financial markets.

From a technical perspective, FBTC has shown moderate trading activity, with an average 20-day volume of 156,296 units. The last price of 7.62 EUR reflects current market sentiment, while the SMA 20 (7.71) and SMA 50 (8.61) indicate recent bearish momentum relative to its short- and medium-term averages. The SMA 200 (7.17) suggests the ETP is trading above its long-term average, signaling a potential recovery phase. The ATR of 0.35 highlights moderate volatility, with price fluctuations averaging 4.6% over the last 20 days.

Fundamentally, the ETP manages assets under management (AUM) of 190.10 million EUR, indicating strong investor interest despite market fluctuations. As a physically-backed product, each unit of FBTC is collateralized by Bitcoin, ensuring direct exposure to the underlying assets performance. Fidelitys reputation as a global financial services leader adds credibility and operational transparency to the ETP.

3-Month Forecast: Based on , FBTC may face headwinds in the near term due to its current price sitting below the SMA 20 and SMA 50, which could signal continued bearish pressure. However, its position above the SMA 200 suggests resilience. The ATR of 0.35 indicates moderate volatility, with potential price swings of 4-5% in either direction. From a perspective, the AUM of 190.10 million EUR reflects stable investor interest, and Bitcoins upcoming halving event in 2024 could drive increased demand, potentially lifting FBTCs price. Overall, FBTC is likely to trade sideways in the short term, with a potential upside if macroeconomic conditions improve or if Bitcoin gains momentum.