Fidelity just bought over $120 million in Ethereum as institutional appetite surges

Key Points

1. Fidelity's Ethereum Fund (FETH) added 33,788.82 ETH worth $124 million on July 22, bringing its total holdings to 629,202 ETH ($2.33 billion).

2. BlackRock expanded its Ethereum position by purchasing 27,158.86 ETH ($100 million) via its iShares Ethereum Trust (ETHA), now holding 2.59 million ETH.

3. Net inflows across all listed Ethereum ETFs surged by 650,468 ETH in the past seven days, with total ETF holdings exceeding 5.22 million ETH.

4. ARK Invest acquired $182 million worth of BitMine Immersion (BMNR) shares to diversify its blockchain exposure, supporting its Ethereum treasury strategy.

5. Other major funds like Grayscale, Bitwise, and VanEck also recorded substantial weekly inflows, with Grayscale's Ethereum Mini Trust adding 60,529 ETH.