Fidelity Invests Heavily in Ethereum ETFs, Fueling Institutional Confidence

Institutional investors have signaled their confidence in Ethereum with a significant purchase of the cryptocurrency. Fidelity Investments allocated $154.6 million to acquire 36,460 ETH through its Ethereum ETF, FETH, marking a notable investment despite ongoing outflows from spot ETFs. This move underscores sustained institutional belief in Ethereum’s long-term prospects while also contributing to price stability amidst large withdrawals from the market.