F
Fidelity Ethereum Fund
FETHCIK 0002000046CBOELarge AcceleratedFinance ServicesDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-422.30M
Total Assets
$2.21B
Equity
$2.21B
Shares Out
65.70M
Op. Cash Flow
$-1.04B
Business
Fidelity Ethereum Fund is a Delaware statutory trust that issues exchange-traded Shares representing fractional undivided beneficial interests designed to provide exposure to ether. The Trust offers Shares listed on the Cboe BZX Exchange that are valued daily and intended to track ether as measured by the Fidelity Ethereum Reference Rate, and it holds ether custodied by Fidelity Digital Asset Services. Key parties include the Sponsor, Trustee, Transfer Agent/Cash Custodian, Custodian, Index Provider and Calculation Agent. Shares trade on the exchange and are available through traditional brokerage accounts, with creations and redemptions effected by Authorized Participants.
Summary from filing dated 2025-03-14
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 |
|---|---|---|
| Investment income | 0 | |
| Sponsor fee | 5 | |
| Total Expenses Before Waiver | 5 | |
| Sponsor fee waived | 0 | |
| Net Expenses | 5 | |
| Net Investment Income (Loss) | −5 | |
| Net realized gain (loss) on investment in ether sold for redemptions | −545 | |
| Net realized gain (loss) on investment in ether transferred to pay the Sponsor fee | −786,000 | |
| Net change in unrealized appreciation (depreciation) on investment in ether | 128 | |
| Net Realized and Change in Unrealized Gain (Loss) on Investment in ether | −418 | |
| Net increase (decrease) in net assets resulting from operations | −422 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-07-31 | FY 2024 2024-05-31 |
|---|---|---|---|---|---|
| Investment in ether, at fair value (cost $2,050,114 and $1,540,471 as of December 31, 2025 and December 31, 2024, respectively) | 2,210 | 1,573 | — | 0 | |
| Receivables from sales of ether | 2 | 0 | — | — | |
| Receivables from issuance of capital shares | 0 | 32 | — | — | |
| Total Assets | 2,212 | 1,604 | — | — | |
| Payable for purchases of ether | 0 | 32 | — | — | |
| Payable for capital shares redeemed | 2 | 0 | — | — | |
| Sponsor fee payable | 457,000 | 0 | — | — | |
| Total Liabilities | 3 | 32 | — | — | |
| Commitments and Contingencies (Note 6) | — | — | — | — | |
| Shares, no par value (unlimited shares authorized) 74,550,000 and 47,175,000 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 0 | 0 | — | — | |
| Paid-in-capital | 2,641 | 1,582 | — | — | |
| Total distributable earnings (loss) | −431 | −9 | — | — | |
| Total Net Assets | 2,210 | 1,573 | — | — | |
| Net Asset Value per share (74,550,000 and 47,175,000 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) | 29.64 | 33.34 | 34.87 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 |
|---|---|---|
| Payments for purchases of ether | −4,302 | |
| Proceeds from ether sold | 3,263 | |
| Transfer of ether to pay the Sponsor fee | 4 | |
| Increase (decrease) in Sponsor fee payable | 457,000 | |
| Net Cash Provided by (Used in) Operating Activities | −1,039 | |
| Proceeds from issuance of capital shares | 4,302 | |
| Cash paid for redemption of capital shares | −3,263 | |
| Net Cash Provided by (Used in) Financing Activities | 1,039 | |
| Net increase (decrease) in cash | 0 | |
| Ether received for the issuance of capital shares | 55 |
Filings
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