Fidelity Ethereum Fund Q2 2024 10-Q Filed

TL;DR

**Fidelity Ethereum Fund Q2 10-Q: Holds 1250 Ether, valuation details provided.**

AI Summary

Fidelity Ethereum Fund filed its 10-Q for the period ending June 30, 2024. The fund's primary investment is in ether, valued at fair value. As of June 30, 2024, the total investment in ether was not explicitly stated in USD, but the quantity of ether held was 1250 units. The filing also references various dates related to its operations and reporting, including August 23, 2024, for the filing date.

Why It Matters

This filing provides insight into the holdings and valuation of the Fidelity Ethereum Fund, which is relevant for investors interested in cryptocurrency-based investment vehicles.

Risk Assessment

Risk Level: medium — Investments in cryptocurrency funds carry inherent volatility and regulatory risks.

Key Numbers

• 1250 — Quantity of Ether (Held by the fund as of June 30, 2024.)

Key Players & Entities

• Fidelity Ethereum Fund (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2024-08-23 (date) — Filing date of the 10-Q
• 1250 (dollar_amount) — Quantity of Ether held

FAQ

Key Financial Figures

• $ — (unaudited) (Amounts in 000's of US$, except for share and per share data)
• $500 — abilities may reflect amounts less than $500. The accompanying notes are an integr

Filing Documents

• ck0002000046-20240630.htm (10-Q) — 345KB
• ck0002000046-ex31_1.htm (EX-31.1) — 16KB
• ck0002000046-ex31_2.htm (EX-31.2) — 16KB
• ck0002000046-ex32_1.htm (EX-32.1) — 10KB
• ck0002000046-ex32_2.htm (EX-32.2) — 10KB
• 0000950170-24-100125.txt ( ) — 1896KB
• ck0002000046-20240630.xsd (EX-101.SCH) — 281KB
• ck0002000046-20240630_htm.xml (XML) — 134KB

Financial Statements

Financial Statements 2 2 3 4 5 Schedule of Investment as of June 30, 2024 (unaudited) 6

Notes to Financial Statements (unaudited)

Notes to Financial Statements (unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 14 Item 4.

Controls and Procedures

Controls and Procedures 14 PART II. OTHER INFORMATION 15 Item 1.

Legal Proceedings

Legal Proceedings 15 Item 1A.

Risk Factors

Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 15 Item 4. Mine Safety Disclosures 15 Item 5. Other Information 15 Item 6. Exhibits 16

Signatures

Signatures 17 i CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Quarterly Report") contains "forward-looking statements" that generally relate to future events or future performance. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or the negative of these terms or other comparable terminology. All statements (other than statements of historical fact) included in this Quarterly Report that address activities, events or developments that will or may occur in the future, including such matters as movements in the digital asset markets and indexes that track such movements, Fidelity Ethereum Fund's (the "Trust") operations, FD Funds Management LLC's (the "Sponsor") plans and references to the Trust's future success and other similar matters, are forward-looking statements. These statements are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses the Sponsor has made based on its perception of historical trends, current conditions and expected future developments, as well as other factors appropriate in the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and are difficult to predict, that could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors we identify in this Quarterly Report and in our filings with the Securities and Exchange Commission (the "SEC"). Whether or not actual results and developments will conform to the Sponsor's expectations and predictions, however, is subject to a number of risks and uncertainties, including the special conside

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Fidelity Ethereum Fund (unaudited) (Amounts in 000's of US$, except for share and per share data) June 30, 2024 Assets Investment in ether, at fair value (cost $ 4,751 ) $ 4,368 Total Assets $ 4,368 Liabilities $ — Commitments and Contingencies (Note 6) Net Assets Shares, no par value ( unlimited shares authorized) 125,000 issued and outstanding at June 30, 2024 $ — Paid-in-capital 4,751 Total distributable earnings (loss) ( 383 ) Total Net Assets $ 4,368 Net Asset Value per share ( 125,000 shares issued and outstanding as of June 30, 2024) $ 34.94 Values shown as $— in the Statement of Assets and Liabilities may reflect amounts less than $500. The accompanying notes are an integral part of these financial statements 2 Fidelity Ethereum Fund (unaudited) (Amounts in 000's of US$) For the period May 24, 2024 (seeding date) through June 30, 2024 Investment income: Investment income $ — Expenses: Sponsor fee, related party — Total expenses before waiver — Sponsor fee waived — Net expenses — Net Investment Income (Loss) $ — Net Realized and Unrealized Gain (Loss) from: Net realized gain (loss) on investment in ether — Net change in unrealized appreciation (depreciation) on investment in ether ( 383 ) Net Realized and Unrealized Gain (Loss) on Investment in ether $ ( 383 ) Net Increase (Decrease) in Net Assets Resulting from Operations $ ( 383 ) Values shown as $— in the Statement of Operations may reflect amounts less than $500. The accompanying notes are an integral part of these financial statements 3 Fidelity Ethereum Fund (unaudited) (Amounts in 000's of US$, except for shares) For the period May 24, 2024 (seeding date) through June 30, 2024 Operations: Net investment income (loss) $

View Full Filing

View this 10-Q filing on SEC EDGAR