Fidelity Ethereum Fund Overview
- Fund Name
- Fidelity Ethereum Fund
- Ticker
- FETH
- Listing Exchange
- Cboe BZX
- Fund Family / Issuer
- Fidelity
- Underlying Asset
- Ethereum
Additional details
- Exposure
- Spot ether held by the trust, part of it staked.
- Fund Structure
- Delaware statutory trust, not registered as an investment company under the Investment Company Act of 1940.
- Annual sponsor fee
- 0.25%
- Fee Assessment Base
- Ether holdings, as defined for the sponsor fee.
- Effective Annual Charge
- 0.25%
- Benchmark
- Fidelity Ethereum Reference Rate, calculated by Coin Metrics
- Custody Appointments
- Fidelity Digital Assets; Primary ether custodian; Holds the ether as the trust’s property and is liable only for gross negligence, willful misconduct or fraud.Anchorage Digital Bank; Additional ether custodian; Holds the ether as the trust’s property and is liable for losses caused by its negligence, with a duty to replace lost ether.BitGo Bank & Trust; Additional ether custodian; Holds the ether as the trust’s property and is liable for losses caused by its negligence, with a duty to replace lost ether.
- Retail Asset Redemption
- Individual shareholders cannot redeem shares for ether sent to a wallet. Authorized participants create and redeem blocks of shares with the trust.
- 30-day Median Bid/Ask Spread
- 0.04%As of Oct 9, 2026
- Fund Assets
- USD 1,590,000,000As of Sep 30, 2026
Net assets, month end
- Staking providers
- Blockdaemon, Figment and Galaxy, engaged through Anchorage and BitGo
- Share of ether staked
- 27.00% trailing 30-day average ending September 30, 2026
- Staking rewards
- The trust keeps 85% of all staking rewards. The sponsor, custodians and staking providers share the other 15%.
- First exchange trading
- July 23, 2024
- Other investor costs
- 15% of gross staking rewards, bid-ask spread and any broker charges
- Official website
- Fidelity FETH fund page
Fidelity Ethereum Fund Screenshots
Screenshot 1 of 8
Fidelity Ethereum Fund Pros and Cons
Pros
- Quarterly cash-distribution policy
- $1.59B net assets at September 30, 2026
- Staking providers named in the prospectus
Cons
- Staking figure is a trailing average
- Weaker custody terms at Fidelity Digital Assets
- No public repayment terms for slashing
Who FETH Is For
FETH suits investors who want a Fidelity ether fund in a brokerage account that earns staking rewards, and who can accept limited staking disclosure.
What FETH Is and How It Works
FETH holds ether so that its shares follow ether’s price, less expenses, and it adds the staking rewards the trust keeps. It holds the ether itself and uses no futures contracts.
Shareholders own an interest in the trust. They can hold and trade that security, but they do not control the private keys to its ether.
Benchmark and How to Check Tracking
FETH values its ether using the Fidelity Ethereum Reference Rate, a Fidelity index calculated by Coin Metrics. The benchmark sets the daily price used to calculate net asset value.
Net asset value, or NAV, is the value of the trust’s assets after liabilities, divided by the number of shares. Staking rewards are paid out as quarterly cash distributions, so NAV alone understates what a shareholder earned. To judge tracking, compare the NAV return with the benchmark. To see what staking added, compare total return, including distributions, with the NAV return.
How FETH Stakes Its Ether
FETH added a staking program in August 2026. Staking commits ether to validators that help run the Ethereum network, which pays rewards for that work.
Neither the trust nor Fidelity has a direct contract with the staking providers. The custodians set up those arrangements, and the prospectus says the custodians’ liability for the staking providers’ actions is limited.
Is FETH Safe? Custody and Investment Risks
A fall in ether’s market price can outweigh any staking income. The exchange listing and the Fidelity name offer no protection against that price risk.
Who Holds FETH’s Ether?
FETH’s ether is held by Fidelity Digital Assets, a Fidelity affiliate, and by Anchorage Digital Bank and BitGo Bank & Trust, which were added in August 2026 to handle staking. Each keeps the trust’s ether separate from its own assets.
The custodians’ terms differ. BitGo commits to the standard of care of a prudent, professional custodian. Anchorage caps its liability at 12 months of fees unless it acts with gross negligence, willful misconduct or fraud. Fidelity Digital Assets is liable only where a loss results from its gross negligence, willful misconduct or fraud.
If a staking provider is slashed, the loss comes out of the trust’s ether. The prospectus warns that the trust may not recover it. Section 10.2 of Anchorage’s filed custody agreement adds a staking-specific limitation: it is not liable for staked ether that is not returned unless the loss comes from its fraud or intentional misconduct.
Fund Structure and Regulatory Status
FETH is a Delaware statutory trust and is not registered under the Investment Company Act of 1940. Calling it an ETF does not give it the protections of a fund registered under that act.
FETH Fees and Trading Costs
Besides the 0.25% sponsor fee, FETH withholds part of its staking rewards, and trading the shares adds costs of its own.
Applying 0.25% to a hypothetical $10,000 held at a constant value for a full year gives $25. Using the 27% trailing average and the CoinDesk Composite Ether Staking Rate (CESR) of 2.6178% from September 23, 2026, the 15% reward cut adds about 0.106% of assets a year. Combined with the sponsor fee, that is about 0.356%, or $35.60 on a constant $10,000. This is a comparison illustration, not realized cost or a yield forecast; the temporary daily allocation can differ. Your costs move with the value of the holding, and trading costs come on top.
Buying and Selling FETH
FETH trades on Cboe BZX. Brokerage access varies by account and location. Confirm the fund’s full name and ticker in your account before placing an order.
Share Price and NAV
The share price can sit above NAV, called a premium, or below it, called a discount. When authorized participants create or redeem shares with the trust, the market price tends to move back toward NAV. Check the current bid and ask prices and any broker commission before you trade.
Ether Withdrawals and Retail Shares
Buying a share does not put ether into a wallet you control. Retail investors buy and sell shares on the market. Authorized participants create and redeem blocks of 25,000 shares with the trust. That process gives an ordinary shareholder no way to withdraw ether personally.
Where to buy FETH
Explore broker options for Fidelity Ethereum Fund.
FETH — Cboe BZX · United States
Robinhood
U.S. accounts, subject to account eligibility and trading permissions.
Eligibility details for Robinhood
- Account access
- U.S. self-directed securities brokerage through Robinhood Financial LLC; check IRA and fractional-share eligibility in your account
- Eligibility
- U.S. accounts, subject to account eligibility and trading permissions.
- Access notes
- Trade FETH shares through Robinhood’s U.S. securities brokerage.
Webull
U.S. accounts, subject to account eligibility and trading permissions.
Eligibility details for Webull
- Account access
- U.S. self-directed securities brokerage through Webull Financial LLC; check IRA and fractional-share eligibility in your account
- Eligibility
- U.S. accounts, subject to account eligibility and trading permissions.
- Access notes
- Trade FETH shares through Webull’s U.S. securities brokerage.
Fidelity
U.S. accounts, subject to account eligibility and trading permissions.
Eligibility details for Fidelity
- Account access
- U.S. brokerage, trust and IRA accounts through Fidelity Brokerage Services LLC, subject to eligibility
- Eligibility
- U.S. accounts, subject to account eligibility and trading permissions.
- Access notes
- Trade FETH shares through Fidelity’s U.S. securities brokerage.
Availability depends on country and account.
FETH Alternatives
Staking ether yourself lets you choose the validator and hold the keys, with full responsibility for the wallet. A staking service runs the validator for you, under its own terms.
FETH vs ETHA
As of September 24, 2026, BlackRock’s iShares Ethereum Trust ETF (ETHA) charged the same fee and did not stake.
| Comparison | FETH | ETHA (September 24, 2026) |
|---|---|---|
| Annual sponsor fee | 0.25% | 0.25% |
| Staking | Yes, 27% trailing average ending September 30, 2026; 15% cut | No |
FETH adds staking rewards and retains 85% of gross rewards. Fidelity’s 27% figure is a trailing average, which may differ from the current daily allocation. ETHA did not stake at its September 24, 2026 review date.
Ethereum ETF Pillar Scores
- Fund fees 24% weight Ongoing sponsor charge before temporary waivers, fee basis, covered expenses, extra fund costs, and waiver terms.7.9 / 10
- Trading spread 20% weight Median difference between bid and ask prices over 30 days.9.2 / 10
- Fund size 8% weight Value of the fund’s assets.10.0 / 10
- Staking & reward sharing 20% weight Share of fund ETH staked and the share of gross staking rewards retained for shareholders after all reward deductions.2.3 / 10
- Custody & asset rights 16% weight Fund ownership, asset records, custody-loss liability, withdrawal rights, and recourse for provider-caused slashing.6.0 / 10
- Reporting & transparency 12% weight Required reports, public ETH and staking holdings, benchmark, NAV, and management's disclosure-control conclusions.10.0 / 10
Final Verdict
FETH offers ether exposure with staking from a Fidelity fund, at a 0.25% annual sponsor fee and a flat 15% deduction from staking rewards. Fidelity reported a 27% trailing 30-day average staking allocation ending September 30, 2026. That average does not establish the allocation on a single day. Fidelity Digital Assets’ liability requires gross negligence, willful misconduct or fraud. The public staking appendices do not establish the scope of slashing reimbursement. FETH is relevant to investors seeking a Fidelity ether fund with staking, while those who require clearly documented reimbursement or withdrawable ether should consider these limits.
Best For
Investors who want a Fidelity ether fund with staking in a brokerage account.
Avoid If
- You want clear public slashing reimbursement terms or need to withdraw ether.
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