Fidelity and ARK ramp up Bitcoin holdings with $196M purchase

Fidelity Investments and ARK Invest have expanded their Bitcoin exposure. With a combined $196.2 million purchase, according to new on-chain data from Arkham Intelligence. The inflows mark a sharp turnaround for both firms. This had recently been part of broader institutional sell-offs across U.S. spot Bitcoin ETFs. The move suggests renewed confidence in Bitcoin’s long term potential. Even as the crypto market continues to face volatility and mixed investor sentiment.

Fidelity Adds Over $200 Million in Bitcoin

Data shows Fidelity FBTC ETF recorded a series of large BTC transfers over the past 24 hours. Which totals nearly $197 million in new inflows. These transactions include several high-value transfers ranging from $15 million to $80 million. Each corresponds to wallet addresses associated with Fidelity’s Bitcoin fund. In total, Fidelity ETF acquired more than 2,880 BTC. It signals strong institutional demand at a time. When BTC has struggled to maintain momentum above key resistance levels. 

The timing of these purchases suggests that Fidelity may be positioning its ETF for potential upside ahead of year end. Earlier this year, the Fidelity FBTC fund also drew attention for its sharp inflows in October. It purchased $112.3 million worth of Bitcoin before later seeing a brief wave of redemptions. Despite market fluctuations, Fidelity’s consistent accumulation shows its continued confidence in Bitcoin as a long term store of value.

ARK Invest Joins the Accumulation Trend

ARK Invest, led by Cathie Wood, also boosted its Bitcoin holdings through its ARKB 21Shares Bitcoin ETF. With multiple transactions totaling around $131 million. According to Arkham data, ARK added over 1,270 BTC across multiple transfers, mainly routed through Coinbase Prime. The move marks a significant shift after ARK recorded $143 million in outflows from its Bitcoin ETF just days earlier. 

The recent inflows suggest that ARK is rebalancing its exposure. It is possibly taking advantage of recent Bitcoin price dips to accumulate at lower levels. ARK Invest has long maintained a bullish stance on Bitcoin. This often emphasizes its potential as a hedge against traditional finance and inflationary pressures. The latest purchase reinforces the firm’s view that institutional adoption will continue to expand as regulatory clarity improves.

Institutional Confidence Returns Despite Volatility

The renewed buying by Fidelity and ARK comes after a turbulent period for Bitcoin ETFs. On October 30, institutional investors sold over $396 million worth of Bitcoin. That marked one of the largest single-day outflows in months. Both Fidelity and ARK led that sell-off. That raises concerns about weakening institutional appetite. 

However, the latest data paints a more optimistic picture. The fresh inflows suggest that major asset managers are once again turning bullish on Bitcoin. Likely anticipating stronger demand in the months ahead. In fact, as Bitcoin continues to hover near key technical levels. Consequently, renewed institutional accumulation from giants like Fidelity and ARK could set the stage for the next phase of market recovery. Thus, this signals that smart money may already be preparing for the next leg up.