Fidelity Investments to Soon Become a Top 3 Active ETF Provider

Fidelity Investments has rapidly grown its actively managed ETF business, amassing roughly $10 billion in the first four months of 2025 and reaching $46 billion in assets under management (AUM) by April, placing it in sixth place among active ETF issuers. With marquee products like the Fidelity Wise Origin Bitcoin Fund (FBTC) and Fidelity Total Bond ETF (FBND) leading inflows, Fidelity Investments aims to crack the top three active-ETF provider rankings currently held by Dimensional Fund Advisors, JPMorgan, and First Trust. 

Over the past year, the firm has launched five new core equity strategies, added municipal bond ETFs to meet advisor demand, and filed for innovative crypto and multi-share-class ETFs that could debut later in 2025.

Fidelity’s Active ETF Momentum

After a robust performance in 2024, Fidelity’s ETF group pulled in $10 billion from January through April 2025, driven by strong demand for outcome-oriented, low-tracking-error strategies. Greg Friedman, head of ETF Management and Strategy, underscores that clients increasingly favor active ETFs to “seek alpha and outcomes” in volatile markets.

As of April 2025, Fidelity ranked sixth among active-ETF issuers, with $46 billion AUM, nearly half of which arrived in the prior 12 months. To climb into the top three, it must overtake Dimensional Fund Advisors, JPMorgan, and First Trust—firms that currently lead in active-ETF assets.

Expanding the Lineup: Equity, Fixed Income, and Munis

New Core Equity Launches

In November 2024, Fidelity Investments added five actively managed core equity ETFs, four focused on international markets such as the Fidelity Enhanced Emerging Markets ETF (FEMR) and Fidelity Fundamental Emerging Markets ETF (FFEM). These quantitative “enhanced” strategies target low tracking error, while the “fundamental” offerings leverage multi-manager stock picks for greater differentiation.

Fixed Income & Municipal Bonds

Active bond strategies remain in vogue: the Fidelity Total Bond ETF (FBND) and the Fidelity Investment Grade Securitized ETF (FSEC) each attracted over $2 billion in new inflows so far this year. In April 2025, Fidelity introduced two municipal bond ETFs—the Fidelity Municipal Bond Opportunities ETF (FMUB) and its Systematic counterpart (FMUN)—to answer advisor calls for tax-efficient income solutions.

Top Three Approved Fidelity ETFs by AUM

Fidelity Investments’ ETF family boasts several industry leaders, three of which top the charts by assets under management:

Fidelity Wise Origin Bitcoin Fund (FBTC)

• AUM: ~$12 billion (as of April 2025).
• Overview: The first spot-Bitcoin ETF from a major asset manager, FBTC offers direct Bitcoin exposure within a regulated vehicle and has led all crypto ETF in 2024–25 inflows.

Fidelity Total Bond ETF (FBND)

• AUM: ~$10 billion.
• Overview: A core fixed-income solution combining high-quality corporate, treasury, and securitized debt, FBND appeals to investors seeking yield with active risk management.

Fidelity Investment Grade Securitized ETF (FSEC)

• AUM: ~$8 billion.
• Overview: FSEC focuses on asset-backed and mortgage-backed securities, positioning itself as a differentiated income tool in a rising-rate environment.

Fidelity ETFs Pending SEC Approval

Fidelity has also staked out frontiers that could fuel its next growth wave:

Fidelity Solana ETF (Proposed)

• Filed with Cboe BZX in March 2025, this spot-Solana ETF would join a burgeoning race alongside Franklin Templeton and VanEck to capture altcoin inflows. Bloomberg Intelligence gives it a 70% approval chance in 2025.

Fidelity Ethereum Staking ETF (Proposed)

• Following its March 2025 spot-Ethereum ETF filing, Fidelity has requested permission to allow in-fund staking, aiming to offer yield-enhanced ETH exposure. The SEC docket shows pending review of this ETH ETF with no deadline yet.

Dual Share-Class Active ETFs

• Under new exemptive relief applications, Fidelity seeks to launch multi-class active equity ETFs—mirroring Vanguard’s expired patent structure—to offer fee discounts for large investors while retaining standard share classes for retail.
  

By deepening its active lineup, targeting high-growth crypto and international strategies, and pioneering innovative share structures, Fidelity Investments is well-positioned to crack the top three active-ETF provider tiers in the coming year.

About the Author: Sarah Zimmerman is a seasoned crypto and Web3 news writer passionate about uncovering the latest developments in the digital asset space. With years of hands-on experience covering blockchain innovations, cryptocurrency trends, and decentralized technologies, she strives to deliver insightful and balanced news that empowers her readers. Her work is dedicated to demystifying complex topics and keeping you informed about the ever-evolving world of technology.