FBTC
Fidelity Wise Origin Bitcoin Fund
Is FBTC Halal?
Bitcoin ETF — inherits Bitcoin's DOUBTFUL status.
What You Should Know
FBTC holds spot Bitcoin under Fidelity's trust/ETF structure. Its March 31, 2026 filing reports $12.818B of Bitcoin at fair value and $16.244M of share-issuance receivables; the examined balance-sheet ratios pass, while Bitcoin's permissibility remains scholar-dependent.
⚠️ Concerns
- •Bitcoin's DOUBTFUL status
- •Volatility and market-manipulation concerns
- •Custody, fees and creation/redemption mechanics
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
0 / 12,834.443
0 / 12,834.443
16.244 / 12,834.443
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 0.00%, liquidity/assets is 0.00% and receivables plus cash/assets is 0.13%; no investment-income numerator is reported and Bitcoin classification remains unresolved.
- Financial
- Pass
- Overall
- Incomplete
The examined asset ratios pass, but Bitcoin and the ETF structure remain qualitatively unresolved.
- Financial
- Pass
- Overall
- Incomplete
The examined debt and liquidity ratios pass; this is not an official classification of a cryptocurrency ETF.
- Financial
- Not calculated
- Overall
- Incomplete
Market-cap denominator methods do not apply cleanly to a spot cryptocurrency trust and no licensed historical denominator is stored.
Business-activity disclosure
FBTC holds spot Bitcoin through a trust/ETF structure. Bitcoin's treatment differs among scholars, while custody, market structure, fees and creation/redemption mechanics require qualitative review.
Limitation: The filing does not provide a school-neutral cryptocurrency-compliance conclusion or a prohibited-activity revenue numerator.
Purification
FBTC reports no investment income in the quarter; no scholar-approved purification percentage is inferred for a spot Bitcoin trust.
Inputs, assumptions and primary sources
- Amounts are USD millions converted from the thousands presentation in FBTC's March 31, 2026 Form 10-Q.
- The statement reports USD 12,818.199 million of Bitcoin at fair value, USD 16.244 million of receivables from capital-share issuance and USD 18.893 million of total liabilities; sponsor fees and settlement payables are not classified as interest-bearing debt.
- FBTC reports no investment income; operating expenses and bitcoin redemption gains are not treated as prohibited income.
- Bitcoin's permissibility remains scholar-dependent; a spot ETF wrapper does not itself settle the underlying asset question.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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