Between Real and Unreal presents new insights into E. T. A. Hoffmann’s innovative use of the fantastic in his short fiction, as typified primarily by the collection Die Serapionsbrueder. With Tzvetan Todorov’s structuralist theories of the fantastic as a major point of departure, Stefan Bergstroem explores the unusual nature and method of Hoffmann’s colorful depictions of a fantastic world between reality and imagination. The study is devoted to an analysis of several main themes represented in Hoffmann’s literary production, particularly Die Serapionsbrueder. Dr. Bergstroem argues that there is a structural, thematic coherence in this short story collection that gives it a special character based on a conscious interaction between a realistic and imaginary world.