Fidelity has made another big move into crypto, this time buying 36,110 Ethereum (ETH) for around $113 million.
The massive purchase was spotted on the blockchain late Wednesday, sending a clear message. One of the world’s biggest investment firms is doubling down on Ethereum.
Fidelity isn’t your average crypto investor. The company manages trillions of dollars and has a long history of cautious, strategic investing. So when it quietly grabs over $100 million worth of ETH, people pay attention. Fidelity now holds more than $1.2 billion worth of Ethereum through its Ethereum Fund (FETH), making it one of the largest institutional ETH holders to date.
The move comes just days before “Crypto Week” in the U.S., when regulators are expected to talk about new rules، including the possible approval of Ethereum ETFs. Fidelity is one of the companies pushing for a spot ETH ETF, and this buy could be a sign they’re getting ready for something big.
If the ETF gets approved, it could open the door for everyday investors to buy Ethereum just like stocks، and bring in billions of new money.
ETH prices ticked up slightly after the news, climbing above $3,400, according to CoinMarketCap. While it wasn’t a huge rally, traders welcomed the return of big institutional buyers.
Ethereum is more than just a coin، it’s the foundation for much of the crypto world, powering apps, NFTs, and smart contracts. Fidelity’s latest move shows that traditional finance is no longer watching from the sidelines. it’s joining the game.
Also, Fidelity is one of the oldest and most respected investment firms in the world, with over 80 years of history. Its deep roots in traditional finance make every move it makes in crypto especially significant when Fidelity goes big on Ethereum, the rest of the market pays close attention.
