US-based Fidelity Investments has significantly increased its crypto exposure this year, with its holdings climbing by more than $5.3bn (£3.95bn) across two exchange-traded funds (ETFs), analysis shows.
Data compiled by Finbold shows that Fidelity's two flagship spot crypto ETFs, the Fidelity Bitcoin ETF and Fidelity Ethereum ETF, reported combined holdings of 201,163 Bitcoin (BTC) and 462,250 Ethereum (ETH) valued at $20.55bn on January 1 this year.
By August 20, this had shifted to 199,127 BTC and 728,939 ETH, with a market value of $25.92bn, marking a $5.37bn increase (26.1%) so far this year.
Jordan Major, chief editor at Finbold, said: “Fidelity’s $5bn expansion this year highlights just how quickly institutional appetite for digital assets is scaling.
"While Bitcoin remains the anchor, Ethereum’s explosive growth inside Fidelity’s ETFs suggests that institutional investors are increasingly viewing ETH not just as a secondary play, but as core infrastructure in the digital economy.”
Fidelity Investments has been contacted for comment.
