Fidelity made a significant purchase of Ethereum worth $87.4M, reaffirming institutional investors' confidence in the cryptocurrency during market corrections.
Fidelity Adds $87.4M in Ethereum
Fidelity acquired $87.4 million worth of ETH during the recent downturn. This purchase shows that the firm is increasing exposure while prices trade lower, often described as a strategy to accumulate during pullbacks.
Large asset managers, including Fidelity and BlackRock, have been steadily building positions in digital assets. Their activity spans direct purchases as well as ETF offerings. For Ethereum, such buying reinforces its role as a core asset among institutions despite near-term corrections.
Analysts Signal Short-Term Bottom
Market watchers also point to a potential floor for Ethereum in the near term. Mark Newton, Managing Director and Head of Technical Strategy at Fundstrat Global Advisors, said ETH may find support near $4,300 within hours.
He added, > "ETH is a very good risk/reward here. I am highly skeptical it breaks this trend nor breaks $4,067 from 8/18. THAT’S what’s required to think a bullish stance near-term is wrong."
Newton’s outlook places resistance near $5,100, with possible upside targets in the $5,400–$5,450 range.
Corporate Holdings and Treasury Activity
Corporate holders have also expanded their positions. BitMine Immersion, Thomas Lee’s treasury company, now owns more than 1.7 million ETH valued at about $7.5 billion. The firm added 190,500 ETH last week, confirming its status as the largest corporate holder of the token.
Combined with Fidelity’s new purchase, these moves suggest that large-scale buyers remain active. The focus now turns to whether Ethereum can stabilize in the $4,300–$4,067 support range and begin another move toward $5,100 and above.
Fidelity's purchase and the activity of other large holders reaffirm the ongoing accumulation of capital in Ethereum despite current market price corrections.
