Fidelity Closes Small Income ETFs Amid Crypto Inflows Led by Ether

Fidelity Investments Canada is closing two income ETFs due to their small size. The Fidelity Canadian Monthly High Income ETF (FCMI) and Fidelity Global Monthly High Income ETF (FCGI) have both risen over 9% this year, but their combined assets of C$32.3 million are a tiny fraction of the company's total C$416 billion under management.

The termination is expected to result in approximately C$171,000 in annualized management fees, based on current assets and management fees. This figure is an estimate, not disclosed revenue, and assumes assets remain steady.

In contrast, U.S. spot crypto ETFs attracted US$181 million in inflows last week, with Ether accounting for 58% of the total.