Fidelity FBTC ETF Inflows
Spot BTC & ETH ETF · authorized-participant creations · @Fidelity
Fidelity's spot crypto ETF wallets hold $751M in BTC and $102M in ETH — coins that back shares of FBTC and FETH, delivered in-kind by authorized participants when new units are created. This is custody against outstanding shares, not a directional bet by Fidelity's book. Read the balance as a creation/redemption gauge on end-client demand, not as conviction.
The desk's read
The $751M BTC leg is the Fidelity Wise Origin Bitcoin Fund (FBTC); the $102M ETH leg is the Fidelity Ethereum Fund (FETH). What sets Fidelity apart from most issuers is self-custody — coins sit with Fidelity Digital Assets rather than a third-party like Coinbase — so on-chain movement here maps cleanly to one house's primary-market activity. Every coin is one-to-one against shares outstanding: the wallet grows only when authorized participants create units and shrinks only when they redeem.
For a trader, the signal is the direction of change, not the absolute number. Net creations mean new money is entering the wrapper and spot coin is being pulled off the market into custody; net redemptions mean the reverse, with coin flowing back toward exchange supply. Because the position is client-driven rather than proprietary, it works as a proxy for the RIA and wirehouse allocation channel Fidelity serves — one of the larger flow pipes in the US spot-ETF complex.
The mix skews roughly 88% BTC to 12% ETH, consistent with where the ETF demand has concentrated since launch. Watch this stack alongside the other issuer wallets: coordinated creations across FBTC, IBIT and peers on an up day confirm real primary demand rather than secondary-market churn, while sustained redemptions are an early tell that the allocation bid is fading. Treat it as a flow instrument — inflows and outflows — not a holder with a view.
What they hold
Largest token positions on-chain data maps to this entity, by USD value.
| Asset? | Chain? | Value? |
|---|---|---|
| BTC | bitcoin | $758.9M |
| ETH | ethereum | $104.2M |
How to read a row → BTC · bitcoin · $758.9M: this entity's largest position is $758.9M of BTC held on bitcoin. Rows are sorted by USD value, so the top row is the biggest bet.
By chain
| Network? | Value? |
|---|---|
| bitcoin | $758.9M |
| ethereum | $104.2M |
How to read a row → bitcoin · $758.9M: $758.9M of the holdings live on bitcoin. Chains are ranked by value, so the top row is where most of the money sits.
Source: aggregated on-chain entity data, cross-checked against Etherscan. Balances are USD-denominated and move with price. Updated 20 Jul 2026.
Not investment advice. Entity labels are on-chain attribution and can be imperfect; a labelled balance may mix personal, treasury and custody wallets. Large balances do not imply intent — some never move.