Fidelity has bought $438.9 million worth of Bitcoin, Ethereum and Solana through its ETFs over the past 20 trading days, onchain data shows. The buying has been heaviest in Bitcoin, even as the asset retraces from a recent high toward a multi-week low.
Onchain data from Arkham Intelligence shows Fidelity has purchased $438.9 million worth of Bitcoin, Ethereum and Solana through its crypto ETF products over the past 20 trading days. The figures point to sustained demand across nearly all of the firm's crypto ETF offerings, especially Bitcoin.
Fidelity's spot Bitcoin ETF, FBTC, recorded the largest purchases of the three, accumulating $354.1 million worth of BTC over the stated period. By contrast, the firm bought just $66.6 million worth of Ethereum and $18.2 million worth of Solana over the same stretch.
Bitcoin has retraced from a high of around $87,000 to a multi-week low of around $81,000, leaving it uncertain whether Fidelity and other major Bitcoin funds can sustain their buying pace for much longer. The decline appears to be driven by increased sell-off pressure from traders, especially retail traders.
Source: U.Today
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