ETN / ETP · Fidelity
FBTG Fidelity Physical Bitcoin ETP
ISIN XS2434891219London Stock Exchange: FBTGFMR LLC
- Crypto
- ETN / ETP
- Not S&S ISA
- SIPP
Latest close
LSE£5.07
on
- Ongoing charge
- 0.75% a year
As of , at least 15 min delayed
At a glance
As of 13/11/2026, FBTG (Fidelity Physical Bitcoin ETP, ISIN XS2434891219) closed at £5.07 on the London Stock Exchange. Its ongoing charge is 0.75% a year (about £75 on £10,000). Over the three years to 13/11/2026 its total return was −30.3%, or −37.1% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −33.4%
- −35.7% after inflation (UK CPIH)
- 3 years to 13/11/2026
- −30.3%
- −37.1% after inflation (UK CPIH)
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of Fidelity Physical Bitcoin ETP in pounds (price only; the fund pays no income): 2025 −15.8%; 2026 to 13/11/2026 −22.4%. Returns of Fidelity Physical Bitcoin ETP in pounds (price only; the fund pays no income) over the 12 months to 30/09/2026: −30.1%; to 30/09/2025: +81.1%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −22.4% | −24.9% | |
| to | −15.8% | −18.7% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −30.1% | −32.6% |
| from | +81.1% | +74.1% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
44.4%over 1 year
Annualised from weekly returns. Higher means bumpier.
- Largest fall since August 2024
- −49.7%
- From to
- Lowest 12-month return
- −46.5%
- 12 months to
- Highest 12-month return
- +100.1%
- 12 months to
- Below its highest weekly close since August 2024
- 42.5%
- High of , latest
In words: Volatility of Fidelity Physical Bitcoin ETP in pounds, annualised from weekly returns to 13/11/2026: 44.4% over 1 year. Largest fall in the price of Fidelity Physical Bitcoin ETP since August 2024, in pounds: −49.7% from 03/10/2025 to 05/06/2026. The lowest 12-month return of Fidelity Physical Bitcoin ETP in pounds (price only; the fund pays no income) since August 2024 was −46.5% (12 months to 17/07/2026); the highest was +100.1% (12 months to 05/09/2025). On 13/11/2026 the price of Fidelity Physical Bitcoin ETP was 42.5% below its highest weekly close since August 2024 (03/10/2025), in pounds.
As of , price only; the fund pays no income
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.75%
- a year
- On £10,000
- £75
- a year, roughly
- Over five years
- £369
- of £10,000, before growth
- 11 charge less
- 0 the same
- 8 charge more
Ongoing charge of Fidelity Physical Bitcoin ETP 0.75% a year. Compared on 14/11/2026, 8 of the 19 other crypto products charge more, 0 the same and 11 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
Fidelity Physical Bitcoin ETP is an exchange-traded product from Fidelity, launched in 2022.
It tracks the Fidelity Bitcoin Index - Benchmark Price Return.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.75% a year — about £75 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Crypto: Products that track Bitcoin and other cryptoassets.
Key facts
- Ticker
- FBTG
- ISIN
- XS2434891219
- Also listed as
- FBTC (London Stock Exchange, US dollars)
- Provider
- Fidelity
- Tracks
- Fidelity Bitcoin Index - Benchmark Price Return
- Structure
- ETN / ETP
- An exchange-traded note or product: a debt security that promises the return of an index. You also rely on the issuer.
- Ongoing charge
- 0.75% a year · about £75 on £10,000
- Launched
- Domicile
- Germany
- Can usually be held in
- SIPP
- Check with your platform: each decides which funds it offers.
- Stocks and shares ISA
- Not eligible (crypto ETN)
- Since 06/04/2026. HMRC rules allow crypto ETNs in an Innovative Finance ISA, where a provider offers one, and in a SIPP.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Crypto
Price chart
Over the last year, the closing price went from £7.21 on 14/11/2025 to £5.07 on 13/11/2026 (−29.7%). The lowest close shown was £4.44 on 05/06/2026 and the highest £7.21 on 14/11/2025.
One close a week. Before 18/09/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price as traded.
As of , at least 15 min delayed
Five years of prices, and after inflation
120 weekly closes, from 02/08/2024 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1 year, from weekly returns in pounds.
With a free accountRolling returns
The full range of 68 rolling 12-month returns since August 2024, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since August 2024, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Questions people ask
What is the ongoing charge of FBTG?
The ongoing charge of FBTG is 0.75% a year — about £75 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Fidelity Physical Bitcoin ETP 0.75% a year. Compared on 14/11/2026, 8 of the 19 other crypto products charge more, 0 the same and 11 less (share classes counted once).
What does FBTG track?
FBTG tracks the Fidelity Bitcoin Index - Benchmark Price Return.
What is the ISIN of FBTG?
The ISIN of FBTG is XS2434891219. An ISIN identifies one exact share class of a fund; FBTG is its ticker on the London Stock Exchange. The same share class is also listed as FBTC (London Stock Exchange, US dollars).
What were FBTG’s returns in each of the last five years?
Calendar-year returns of FBTG in pounds (price only; the fund pays no income): 2025 −15.8%; 2026 to 13/11/2026 −22.4%. Past performance is not a guide to future returns.
How has FBTG done after inflation?
Over the three years to 13/11/2026 FBTG’s total return was −30.3%, or −37.1% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
Methodology:ReturnsCategoriesAll methods
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