Yes, FETICHISM is a Scrabble word!

Letter values in Scrabble US: F 4, E 1, T 1, I 1, C 3, H 4, I 1, S 1, M 3.

Is it a valid word?

FETICHISM is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a belief in the magical power of fetishes (or the worship of a fetish)
sexual arousal or gratification resulting from handling a fetish (or a specific part of the body other than the sexual organs)