Fidelity Investments Canada ULC has announced the delisting of two prominent exchange-traded funds (ETFs) scheduled for July 24, 2026. The move affects the Fidelity Canadian Monthly High Income ETF and the Fidelity Global Monthly High Income ETF, marking a targeted structural adjustment within the firm’s $416 billion asset management portfolio. According to official statements from Chris Pepper, Vice-President of Corporate Affairs, the termination of these funds follows the implementation of the GENIUS Act in June 2026, which has prompted a broader institutional pivot from traditional mutual fund structures toward stablecoin-backed reserve management.
Holders of Series L units in the affected funds have been notified of a specific distribution timetable. On July 17, Fidelity established that investors would receive estimated special reinvested distributions before the final termination date. Unlike a standard cash payout, these distributions will be added back into the funds and immediately consolidated. This mechanic ensures that while the total portfolio value is adjusted to reflect the distribution, the actual number of units held by each investor remains unchanged. Fidelity noted that the final amounts for these reinvested distributions are expected to be confirmed on or about July 27, 2026, following the completion of portfolio transactions and currency hedging adjustments.
The delisting serves as a precursor to the launch of the Fidelity Reserves Digital Fund (FYMXX). This new vehicle is designed to align with the regulatory requirements of the GENIUS Act, positioning Fidelity to manage digital assets as a stable store of value for institutional clients. By shifting away from traditional high-income monthly ETFs, the firm is signaling a transition toward stablecoin-backed frameworks, which are increasingly viewed as the preferred infrastructure for institutional liquidity. While the current shutdown is limited to these two specific products rather than a company-wide liquidation, it highlights the firm’s strategic focus on digital reserve management as the new standard for institutional trust.