Welcome to our dedicated page for Fidelity Ethereum Fund SEC filings (Ticker: FETH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Fidelity Ethereum Fund is a Delaware statutory trust that offers exchange-traded shares on Cboe BZX under the symbol FETH. The fund’s objective is to track the performance of ether using the Fidelity Ethereum Reference Rate Index, adjusted for expenses and liabilities, by passively holding ether in custody at Fidelity Digital Assets.
The Trust values its shares daily using a volume‑weighted median price of ether from multiple spot markets, with NAV struck after 4:00 p.m. EST. Shares are created and redeemed only in blocks of 25,000 through Authorized Participants for ether or cash. The Trust charges a unified Sponsor Fee of 0.25% of Ether Holdings and does not stake ether or use derivatives. The report highlights extensive risks tied to ether’s price volatility, Ethereum network governance and security, index pricing, and evolving digital asset regulation and taxation.
Fidelity Ethereum Fund reported a leadership change at its sponsor, FD Funds Management LLC. Effective February 2, 2026, Heather Bonner resigned as Treasurer and Principal Financial and Accounting Officer. The filing states her resignation did not result from any disagreement over the sponsor’s or the fund’s operations, policies or practices.
On the same effective date, Craig S. Brown will become Treasurer and Principal Financial and Accounting Officer of the sponsor. Brown is a Vice President at Fidelity Investments and has prior experience serving as Assistant Treasurer for various Fidelity funds and related entities.
Fidelity Ethereum Fund reported a larger, higher‑NAV portfolio tied to ether for the quarter ended September 30, 2025. Total net assets were $3,154,185,000, up from $1,572,626,000 at December 31, 2024, with NAV per share at $41.23.
The Trust held 763,730 ether at fair value of $3,154,847,000, categorized as Level 1 under fair value hierarchy. Shares outstanding were 76,500,000. For Q3 2025, net increase in net assets resulting from operations was $872,969,000, driven mainly by $972,133,000 in unrealized appreciation, partially offset by realized losses tied to redemption activity. Over the nine months, operations added $454,831,000.
Primary flows reflected active primary market activity: Q3 creations of 67,750,000 shares and redemptions of 41,175,000 shares. The 0.25% Sponsor Fee was in effect in 2025, with Q3 expenses of $1,788,000. The Index price and principal market measures closely tracked ether’s move, with NAV per share derived from the Index methodology at the close.