Fidelity to liquidate five ETFs, including its Metaverse and three Disruptive-range funds

The Board of Trustees of Fidelity Covington Trust approved plans of liquidation for five exchange-traded funds on 14 October 2026, according to prospectus supplements filed with the SEC on 15 October.

The funds

The filing contains three supplements, each covering a different prospectus:

• Thematic range: Fidelity Metaverse ETF, listed on Nasdaq.
• Disruptive range: Fidelity Disruptive Finance ETF, Fidelity Disruptive Medicine ETF and Fidelity Disruptors ETF, all listed on Nasdaq.
• Equity range including Blue Chip Growth and Magellan: Fidelity Real Estate Investment ETF, listed on Cboe BZX.

The other funds sharing those prospectuses are not affected.

Timetable

The timetable is the same for all five. Each fund stops accepting creation orders after the close of business on 12 November 2026, which is also expected to be its last day of trading. Liquidation is expected on or about 19 November. Between the market close on 12 November and that date, shareholders will be unable to sell on the exchange and there may not be a trading market for the shares.

Following the board’s decision, Fidelity says all or part of each fund will likely not be invested in line with its objective, with assets managed to provide liquidity ahead of the wind-down. Shareholders still holding on the liquidation date will receive the net asset value of their shares, and the filing notes that this may be more or less than they would have received by selling before the close on 12 November.

Why it matters

With ProShares’ Metaverse ETF (VERS) already in a September closure batch, the theme has lost two US-listed products in a month. The supplements do not disclose the funds’ assets or give a reason for the closures.

Added to The Midpoint on 31 October 2026, with the ETFs section. This article is dated to the event it describes; it was not published at the time.

Sources

• Supplements to three Fidelity ETF prospectuses (Form 497), Fidelity Covington Trust via SEC EDGAR, 15 Oct 2026
• Supplement to the prospectuses of ten ProShares ETFs (Form 497), ProShares Trust via SEC EDGAR, 28 Sep 2026