Quarterly ResultMay 6, 2026, 01:38 PM
Fidelity Ethereum Fund Q1 Net Assets Down 45%; NAV Per Share Falls 29%
AI Summary
Fidelity Ethereum Fund reported a significant decline in its net assets and Net Asset Value (NAV) per share for the three months ended March 31, 2026. Net assets decreased by approximately 45% to $1.21 billion, primarily due to a 29.27% drop in the price of ether and net redemptions of 16.7 million shares. The fund experienced a net decrease in net assets from operations of $662.4 million, largely driven by unrealized depreciation and realized losses on ether investments.
Key Highlights
- Net Assets decreased by 45.25% to $1.21 billion as of March 31, 2026, from $2.21 billion.
- NAV per Share fell by 29.32% to $20.95 as of March 31, 2026, from $29.64.
- The price of ether decreased by 29.27% to $2,101.84 as of March 31, 2026.
- Shares outstanding decreased by 16.7 million to 57.85 million due to net redemptions.
- Quantity of ether owned decreased by 166,974 to 576,821 as of March 31, 2026.
- Net decrease in net assets from operations was $662.4 million for the three months ended March 31, 2026.
- Net unrealized depreciation on investment in ether was $407.2 million for Q1 2026.
- Total Return at Net Asset Value was (29.31)% for the three months ended March 31, 2026.