Fidelity Ethereum Fund (FETH) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FETH SEC filings page.
This page shows Fidelity Ethereum Fund (FETH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Asset-backed exposure dominates the fund's mechanics, while reported cash use is offset by financing flows rather than operating earnings.
The cash conversion gap is unusually important: a net loss of-$422M accompanied operating cash flow of-$1.0B , so accounting earnings do not explain the period's cash movement. Because financing cash flow was$1.0B , nearly matching the operating outflow, the reported cash activity depended on financing to offset operating uses rather than being funded internally.
The balance sheet is exceptionally lightly indebted:
With no revenue or gross-profit measures reported, margin-based operating analysis is not meaningful here. The more revealing pattern is the combination of negative operating cash flow and offsetting financing cash flow, which describes a vehicle whose reported cash movements were shaped more by capital flows than by internally generated operating cash.
Financial Health Signals
Fidelity Ethereum Fund does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Fidelity Ethereum Fund reported a net loss of $422.3M while operations used $1.0B of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Fidelity Ethereum Fund reported -$255.1M in net income in Q2 2026. This represents a decrease of 203.2% from the same quarter a year earlier. Against the prior quarter it is up 61.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Fidelity Ethereum Fund held $0 in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Fidelity Ethereum Fund's ROE was -33.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 53.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 21.0 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Fidelity Ethereum Fund spent $411.5M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 58.1% from the same quarter a year earlier. Against the prior quarter it is down 42.8%.
Not reported for Q2 2026.
Not reported for Q2 2026.
FETH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
FETH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $758.8M-40.0% | $1.2B+63.9% | $2.2B+37.9% | $3.2B+643.2% | $1.3B+28870.6% | $740.5M | $1.6B | $424.5M |
| Cash & Equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $160K-99.4% | $1.8M-72.2% | $2.7M-91.6% | $662K | $25.9M | $6.6M | $31.8M | $0 |
| Total Equity | $758.6M-38.8% | $1.2B+65.2% | $2.2B+40.5% | $3.2B+643.0% | $1.2B+28276.6% | $733.9M | $1.6B | $424.5M |
| Retained Earnings | -$1.3B-215.7% | -$1.1B-62.2% | -$431.4M-4633.0% | $445.7M+855.3% | -$427.3M-111454.3% | -$674.4M | -$9.1M | -$59.0M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
FETH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $93.3M+139.0% | $176.6M+19.3% | $120.0M+111.3% | -$1.1B-120.8% | -$239.1M | $148.0M | -$1.1B | -$483.5M |
| Financing Cash Flow | -$93.3M-139.0% | -$176.6M-19.3% | -$120.0M-111.3% | $1.1B+120.8% | $239.1M | -$148.0M | $1.1B | $483.5M |
| Share Buybacks | $411.5M+58.1% | $719.5M+35.8% | $818.9M+349.5% | $1.7B+31320.5% | $260.3M | $529.8M | $182.2M | $5.3M |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid.
FETH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, FCF Margin.
Where Fidelity Ethereum Fund Ranks
Frequently Asked Questions
Is Fidelity Ethereum Fund profitable?
No, Fidelity Ethereum Fund (FETH) reported a net income of -$422.3M in fiscal year 2025.
What is Fidelity Ethereum Fund's return on equity (ROE)?
Fidelity Ethereum Fund (FETH) has a return on equity of -19.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Fidelity Ethereum Fund's operating cash flow?
Fidelity Ethereum Fund (FETH) recorded an outflow of $1.0B in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Fidelity Ethereum Fund's total assets?
Fidelity Ethereum Fund (FETH) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Fidelity Ethereum Fund's debt-to-equity ratio?
Fidelity Ethereum Fund (FETH) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Fidelity Ethereum Fund's return on assets (ROA)?
Fidelity Ethereum Fund (FETH) had a return on assets of -19.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Are Fidelity Ethereum Fund's earnings high quality?
Fidelity Ethereum Fund (FETH) reported a net loss of $422.3M while operations used $1.0B of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.