Fidelity’s Ethereum bet is facing a fresh test as the Fidelity Ethereum Fund ETF, FETH, recorded outflows of $43.5 million on February 13, 2026. The redemption represents roughly 3.45% of its $1.26 billion in assets under management, marking one of the sharper single-day pullbacks since the product’s launch.
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The related asset, ETH-USD, is currently trading at $2,015.10 after a steep 36.27% decline over the past three months. Short-term momentum remains negative, with a 1-day technical signal flashing Strong Sell, underscoring investor unease over further downside in the Ethereum market.
The scale of the latest outflows suggests that institutional and sophisticated retail investors are trimming risk rather than making tactical reallocations. With Ethereum underperforming broader crypto benchmarks, FETH’s sizable redemption highlights how quickly sentiment can flip when volatility rises and narratives around network growth and on-chain activity weaken.
Still, the ETF’s remaining asset base near $1.3 billion indicates that core holders are staying put, potentially positioning for a longer-term recovery in Ethereum’s ecosystem. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.