According to its SEC filing on Aug. 11, Fidelity filed a pre-effective amendment to enable its Ethereum Fund (FETH) to stake up to 100% of its ETH holdings and distribute quarterly cash payouts. The fund would retain 85% of staking rewards after deducting a 15% fee shared among Fidelity, custodians, and node operators. FETH would accumulate rewards in ETH, convert available amounts to dollars, and distribute to shareholders quarterly under normal market conditions. The amendment requires SEC approval before implementation.
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