Fidelity, a top asset manager and spot Ethereum ETF issuer, has executed its largest weekly Ethereum purchase in nearly two months, acquiring approximately $28.6 million worth of ETH. The data, released by on-chain analytics firm Arkham Intelligence, reveals a significant uptick in accumulation after weeks of sluggish ETF inflows and restrained buying activity.
According to Arkham’s tracking dashboard, the purchases occurred across multiple sessions over the past week. The firm moved Ethereum tokens into custody addresses linked to its ETF operations. The last time Fidelity made a weekly purchase of this magnitude was in late April, a period marked by a consistent downturn in the spot Ethereum ETF market.
The broader Ethereum ETF segment has continued to bleed, with most funds reporting either minimal inflows or net withdrawals during recent sessions. Fidelity itself had barely recorded fresh capital intake on most trading days prior to this week. The sudden surge in buying has sparked speculation that institutional investors may be circling back to Ethereum amid renewed optimism, despite ongoing market volatility.
