FBTC’s worst drop since 2024 was 53%
Fidelity Wise Origin Bitcoin Fund (FBTC) fell 53% from Oct 2025 to Jun 2026. It has not closed above that Oct 2025 peak since, 1.0 years later. Over the same years the S&P 500 fell as much as 19%.
That drop ranks 97th deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2024 to now
How FBTC held up in each crash
| Crash | Years | FBTC | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | not trading yet | −33.7% |
| 2022 rate shock | 2022 | not trading yet | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was FBTC’s maximum drawdown?
FBTC’s deepest fall since 2024 was 53.4%, from its high on October 6, 2025 to its low on June 30, 2026. The figure uses daily prices with dividends reinvested.
How long did FBTC take to recover?
It has not recovered yet. As of October 13, 2026 it sits 33.9% below that Oct 2025 high.
Was FBTC riskier than the S&P 500?
Over the same years, FBTC’s worst drop was 53.4% against 18.8% for the S&P 500 (SPY), and its worst 12 months were −49.0% against −2.9%.
Compare with
Daily adjusted closes from Yahoo Finance, January 12, 2024 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.