**Introduction:**
Institutional interest in Ethereum (ETH) has surged, with major players like Fidelity making substantial investments in the cryptocurrency. This article highlights the recent significant purchases made by institutional investors and the overall increase in demand for Ethereum.
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### Fidelity’s $120 Million Ethereum Purchase
#### Fidelity Ethereum Fund Adds to Holdings
Fidelity, a prominent name in the financial sector, expanded its Ethereum holdings by a staggering $124 million in a single-day purchase on July 22. The Fidelity Ethereum Fund acquired 33,788.82 ETH, boosting its total holdings to 629,202 ETH, valued at $2.33 billion.
#### Institutional Shift Towards Ethereum
**Broader Institutional Pivot**
Recent months have seen a notable shift among institutional investors towards Ethereum, following the approval of spot ETH ETFs earlier in the year. Ethereum ETFs, collectively, witnessed a net inflow of 650,468 ETH over the past week, with total holdings exceeding 5.22 million ETH, equivalent to $19.31 billion.
#### Major Investment Funds Joining the Trend
**BlackRock’s Ethereum Expansion**
BlackRock, a key player in asset management, increased its Ethereum position by purchasing 27,158.86 ETH valued at almost $100 million through its iShares Ethereum Trust. This acquisition propelled BlackRock to become the largest institutional holder of Ethereum among ETFs, with 2.59 million ETH in its portfolio.
**ARK Invest’s Strategic Move**
ARK Invest made a significant investment of $182 million in BitMine Immersion (BMNR) shares, aiming to enhance its Ethereum treasury strategy. This move signals ARK’s commitment to diversifying its blockchain exposure through a combination of direct holdings and infrastructure assets.
**Focus on Ethereum by Other Funds**
Noteworthy inflows were also observed in Ethereum-related funds managed by Grayscale, Bitwise, and VanEck. Grayscale’s Ethereum Mini Trust saw a substantial net inflow of 60,529 ETH, while Bitwise added 12,758 ETH to its holdings.
#### Ethereum’s Institutional Appeal
As Ethereum gains traction as an institutional-grade asset, thanks to regulatory clarity and improved liquidity through ETF accessibility, it is increasingly being viewed as a primary investment avenue alongside Bitcoin.
**Conclusion:**
The influx of institutional capital into Ethereum, exemplified by Fidelity’s significant purchase and the broader trend among major investment funds, underscores the growing appeal and acceptance of Ethereum within the institutional investment landscape.
*This post was originally published on Finbold.*