Fidelity Receives $70.85M Worth of ETH From Cumberland and Coinbase

IconCryptoNewsTerminal Staff24 Jul, 2024

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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.