Launched on July 23, 2024, the Fidelity Ethereum Fund (FETH) is an Ethereum ETF that passively tracks the performance of ETH based on the Fidelity Ethereum Reference Rate, adjusted for the fund's expenses and liabilities. FETH invests directly in Ether, which is securely stored using Fidelity’s in-house storage services. The fund values its shares daily and sells or redeems them in blocks of 25,000. As an exchange-traded product, FETH is accessible through various account types, including brokerage, trust, and tax-advantaged accounts like IRAs.