Fidelity purchases $132.7 million in Bitcoin

Key Takeaways

• Fidelity’s FBTC recorded $132.7 million in net inflows on Oct. 14, the largest among all issuers for the day.
• Fidelity’s strong inflows suggest continued institutional and retail accumulation through its platform.

Fidelity, a major US asset manager, saw clients purchase $132.7 million in Bitcoin on Tuesday, demonstrating continued institutional appetite for the leading crypto asset.

The asset manager has enabled Bitcoin exposure in 401(k) retirement plans, allowing clients to incorporate the digital asset into long-term savings strategies.

Alongside peers like BlackRock, Fidelity is strategically acquiring Bitcoin to bolster its portfolio amid fluctuating market conditions. The firm has actively expanded its crypto offerings through spot ETFs and retirement account integrations.