Fidelity Stacks $100 Million BTC As Bitcoin ETF Market Recovers

Fidelity Investments, a top financial investment firm, is in the news following its recent significant Bitcoin (BTC) buy.

The firm’s decision to accumulate Bitcoin demonstrates its confidence in the world’s leading digital asset. It also comes amid a recovery in the spot Bitcoin Exchange-Traded Fund (ETF) market after weeks of persistent outflows.

The Fidelity Bitcoin ETF Accumulation

Arkham Intelligence, a popular blockchain analytics platform, confirmed in an X post that Fidelity recently purchased $100 Million worth of BTC. The platform added a chart in the post showing the Bitcoin transfers from two wallet addresses.

The first transaction resulted in Fidelity purchasing 529 BTC, valued at approximately $49.27 Million.

For the second purchase, Fidelity accumulated 524 BTC, worth about $47.8 Million. At the current market price, both purchases amounted to $100 Million.

This acquisition brings the total Bitcoin holdings in Fidelity Exchange-Traded Fund (FBTC) to over 199,000 BTC. At the current market price, this investment translates to over $18 Billion.

With Bitcoin’s price trading around $88,602, Fidelity now controls nearly 1% of the total Bitcoin in circulation. This solidifies the firm’s position as a major institutional player in the crypto market.

Fidelity’s purchase follows a broader trend among institutional investors, increasing their Bitcoin exposure.

For instance, Michael Saylor’s Strategy, formerly MicroStrategy, has continued in its effort to stack BTC.

The firm currently owns 471,107 BTC, worth roughly $45.7 Million, with the average Bitcoin cost basis recently hitting $64,500.

Tokyo-based Metaplanet has also continued to reinforce its Bitcoin reserves. The company recently acquired 619.7 BTC, bringing its total holdings to 1,762 BTC worth $168 million.

Bitcoin ETF Market 7-Day Outlook

Fidelity’s aggressive BTC accumulation highlights continued confidence in the asset following the latest recovery in the Bitcoin ETF market.

On February 28, Fidelity’s ETF saw inflows reaching $176 Million, becoming the second-top performer for the day, following behind ARKB’s $193.7 Million.

According to Farside Investors data, on this day, the total spot Bitcoin ETFs saw inflows of $94.3 Million.

Before this inflow, the market experienced a seven-day streak of outflows, beginning on February 18 and ending on February 27. On February 18, the Bitcoin ETF recorded outflows of $60.7 Million.

However, the market experienced the highest outflows within the seven-streak on February 25, which amounted to $1.1 Billion.

Bitcoin Volatility and Projections

The massive outflows from the Bitcoin ETFs come as Bitcoin’s price plummeted substantially over the past weeks. Specifically, Bitcoin plunged over 20% from its peak last week, even hitting a low of $78,979 on February 28.

Bitcoin recovered some losses on March 2 after President Donald Trump’s comments. The President reiterated a commitment to establishing a federal reserve holding for top cryptocurrencies, including BTC.

As of this writing, BTC price was still fluctuating as investors react to macroeconomic factors and regulatory concerns. BTC is currently traded at $90,082, down over 4% from the previous day and 7.42% over the past week.

Despite the recent volatility, several analysts have raised optimistic forecasts for the coin’s future. JAN3’s CEO Samson has increased its $1 Million target for BTC to $2 Million, emphasizing his belief in the asset. Amid the market turbulence, JAN3 bought 12 BTC, gaining 15% monthly profit.