Fidelity Receives $70.85M Worth of ETH From Cumberland and Coinbase
CryptoNewsTerminal Staff24 Jul, 2024
Fidelity Receives $70.85M Worth of ETH From Cumberland and Coinbase
Fidelity, a global asset manager and issuer of Bitcoin and Ethereum (ETH) spot ETFs, has received 20,500 ETH worth approximately $70.85 million from Cumberland, a cryptocurrency market maker, and Coinbase, a US-based exchange and custodian. This transaction is believed to be related to Fidelity's ETH spot ETF. Blockchain analytics firm Lookonchain reported the transaction, which occurred approximately 2 hours ago. Fidelity now reportedly holds 126,649 ETH worth approximately $433 million through its ETF.