TORONTO, July 19, 2026, 10:12 EDT
- Two Fidelity income ETFs, both having risen over 9% this year, will be terminated on Friday.
- Current assets correspond to about C$171,000 in annualized management fees.
- Ether accounted for 58% of inflows into U.S. spot crypto ETFs last week, according to Farside Investors.
Fidelity Investments Canada is set to close two small income ETFs following Friday’s market close. The Fidelity Canadian Monthly High Income ETF TSE:FCMI has advanced 9.90% so far this year. The Fidelity Global Monthly High Income ETF TSE:FCGI is up 9.08%.
The pair held C$32.3 million as of Friday’s close. Fidelity Canada managed C$416 billion as of July 14. The two funds represent about 0.008% of that figure.
The size of these funds suggests approximately C$171,000 in annualized management fees. This figure is an estimate, not disclosed revenue, and presumes assets remain steady. It is calculated by applying each fund’s stated fee to Friday’s net asset value.
Here is the fund economics for Friday.
| Fund | Net assets | Management fee | Approx. annualized fee* | 2026 YTD return |
|---|---|---|---|---|
| FCMI | C$12.6 million | 0.50% | C$63,000 | 9.90% |
| FCGI | C$19.7 million | 0.55% | C$108,000 | 9.08% |
| Combined | C$32.3 million | — | C$171,000 | — |
Annualized figures are based on July 17 asset values and declared management fees. These numbers represent calculations, not official reported revenue.
U.S. crypto products are seeing more rapid capital movement. Spot bitcoin and Ether ETFs attracted US$181 million in inflows last week, equal to C$253.7 million at Friday’s exchange rate. The total was almost eight times the assets held by Fidelity funds.
Assets and weekly flows are not directly comparable. The ratio reflects cash intensity instead of the fund’s total value.
Fidelity stated in March that closing the funds would streamline its offerings. The company did not attribute the decision to the size of the funds. Both funds are set to delist and close following the end of trading on Friday.
The disclosed special distribution is minor in economic terms. FCMI’s initial estimate stands at C$0.00067 per unit, equating to 0.0043% of Friday’s C$15.71 NAV. With Friday’s count of 800,000 units, this suggests an approximate total of C$536. FCGI does not have a preliminary special distribution.
Fidelity plans to reinvest FCMI’s distribution prior to its termination and will then consolidate the resulting units. Investor unit totals are set to stay the same, with final figures anticipated on or about July 27.
Units remaining post-delisting will be subject to mandatory redemption. Further purchases by new investors are not permitted, aside from market-making transactions.
The structure of the crypto recovery shifted over the week. Bitcoin ETFs attracted US$75.5 million from July 13 to July 17. Ether ETFs received US$105.5 million, accounting for 58% of the total combined inflows.
Bitcoin funds received US$197.4 million and Ether funds took in US$84.4 million the previous week, ending an eight-week run of outflows totaling over US$7 billion. Total demand fell 36% last week, but Ether’s contribution almost doubled from 30%.
Bernstein Research senior analyst Gautam Chhugani described the latest correction as “rather comforting.” In a note cited by Yahoo Finance, he wrote, “Crypto feels like it’s growing up.” Crypto Craft
North American stock markets did not open on Sunday. The TSX will resume trading Monday, July 20, beginning at 9:30 a.m. EDT. Crypto markets traded non-stop, with Bitcoin trading near US$64,450 and Ether around US$1,625.
Next week, two events are ahead. Investors will monitor U.S. crypto ETF inflows for continued gains. Fidelity’s funds are set for their scheduled July 24 exit. Final numbers are expected by around July 27.
Risks: Fidelity’s initial estimates may shift due to portfolio trading, hedging, or redemptions. Crypto ETF flows may also reverse rapidly, with token prices trading nonstop.
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