Fidelity Ethereum Fund

Fidelity Ethereum Fund is an exchange-traded product organized as a Delaware statutory trust. The Trust issues common shares of beneficial interest that represent fractional undivided beneficial ownership of the fund. Its primary investment objective is to track the performance of ether, the native token of the Ethereum blockchain, as measured by the Fidelity Ethereum Reference Rate and adjusted for expenses and liabilities. The fund operates through a passive investment strategy, directly holding physical ether rather than engaging in staking or derivative investments. Its shares are designed for investors seeking direct exposure to the ether market through traditional brokerage accounts without managing private cryptographic keys or executing transactions directly on digital asset spot markets.

The Trust conducts share transactions in blocks of 25,000 shares, known as baskets. All underlying ether assets are held in custody by an affiliated national trust bank, Fidelity Digital Assets, N.A., while FD Funds Management LLC serves as the sponsor and State Street Bank and Trust Company acts as cash custodian and transfer agent. No physical headquarters is specified in the text.

Summary of the business section of Fidelity Ethereum Fund's latest annual report, written by StockData.