Fidelity just bought over $120 million in Ethereum as institutional appetite surges
Institutional demand for Ethereum (ETH) continues to accelerate, with Fidelity making one of the largest single-day purchases this week. According to blockchain analytics from Lookonchain , the Fidelity Ethereum Fund (FETH) added 33,788.82 ETH on July 22, worth approximately $124 million, bringing its total holdings to 629,202 ETH, valued at $2.33 billion at current market prices. July 22 Update: 10 #Bitcoin ETFs NetFlow: -1,477 $BTC(-$176.21M)#ARK21Shares outflows 665 $BTC($79.31M) and currently holds 49,586 $BTC($5.91B). 9 #Ethereum ETFs NetFlow: +75,296 $ETH(+$278.45M)🟢#Fidelity inflows 33,953 $ETH($125.56M) and currently holds 629,202… pic.twitter.com/7G6IgZpMTd — Lookonchain (@lookonchain) July 22, 2025 Recently there has been a strong broader institutional pivot toward Ethereum following the approval of spot ETH ETFs earlier this year. Across all listed Ethereum ETFs, net inflows have surged by 650,468 ETH over the past seven days, with total ETF ...