Fidelity Bolsters Bitcoin Position with $61.6 Million Investment, Signaling ETF Resurgence

Fidelity Investments has made a significant investment in Bitcoin worth $61.6 million, signaling a renewed interest in the digital asset and potentially reviving the beleaguered ETF market. This purchase follows weeks of net outflows from Bitcoin ETFs, including Fidelity’s own Wise Origin Bitcoin Fund (FBTC). The sudden shift is reflected by a recent influx of $240 million into these funds, driven by major players like BlackRock and Fidelity, marking a turning point in the sector.