Fidelity Ethereum Fund appoints Craig S. Brown as treasurer following resignation

The Fidelity Ethereum Fund (FETH) officially appointed Craig S. Brown as its new treasurer and principal financial and accounting officer in Boston on February 2, 2026, following the voluntary resignation of Heather Bonner. The leadership transition, disclosed via a formal filing with the U.S. Securities and Exchange Commission (SEC), was orchestrated by the fund’s sponsor, FD Funds Management LLC, to ensure continuity in the oversight of the exchange-traded product's fiscal operations. The fund confirmed that Bonner’s departure was not due to any disagreements regarding the fund’s operational policies or accounting practices. Craig S. Brown possesses extensive institutional knowledge, having served as a vice president at Fidelity Investments since 2015. His background includes significant roles within the firm’s financial structure, such as serving as the assistant treasurer for FIMM, LLC since 2021 and holding various assistant treasurer positions for other Fidelity-branded funds between 2019 and 2022. This internal promotion highlights Fidelity’s strategy of leveraging long-term executive talent to manage its growing suite of cryptocurrency-based investment vehicles. The leadership shift comes at a volatile time for the Fidelity Ethereum Fund, which trade on the Cboe BZX Exchange under the ticker FETH. Market data indicated that the fund experienced a notable 13.89% decline during the period surrounding the announcement, amid a broader cooling of the digital asset market. Despite the market fluctuations, the fund’s administrative transition proceeded according to regulatory requirements, reinforcing the governance framework that supports institutional-grade crypto assets under the broader Fidelity Investments umbrella.