Fidelity FBTC Withdrew $11.59 Million Worth of BTC From Coinbase Prime
CryptoNewsTerminal Staff10 Sep, 2024
Fidelity FBTC Withdrew $11.59 Million Worth of BTC From Coinbase Prime
Fidelity's Digital Assets arm, Fidelity FBTC, has withdrawn 202 Bitcoin ($11.59 million) from Coinbase Prime. The transaction was identified by blockchain analytics firm Arkham Intelligence. The funds were transferred from a Coinbase Prime address to an address reportedly linked to Fidelity FBTC. Fidelity has been actively involved in the cryptocurrency space, recently launching a Bitcoin ETP and providing custody services for digital assets. The withdrawal from Coinbase Prime suggests that Fidelity may be moving its Bitcoin to its own custody solution or to another exchange. This transaction highlights the growing institutional adoption of cryptocurrencies, with major financial institutions like Fidelity taking steps to incorporate digital assets into their portfolios. The movement of large amounts of Bitcoin between exchanges also indicates the increasing liquidity and maturity of the cryptocurrency market.
