Fidelity's spot Bitcoin ETF clients have made another significant purchase, acquiring $24.54 million worth of Bitcoin through the Fidelity Wise Origin Bitcoin Fund (FBTC). This transaction falls within a range that the fund has hit multiple times this year, typically between $23 million and $25 million. For instance, on October 22, 2026, FBTC recorded a $23.08 million purchase, equivalent to 282.63 BTC, while in mid-August, the fund bought around $23.92 million in Bitcoin.
Not all purchases are of this scale. On October 13, 2026, FBTC saw a substantial net inflow of $103.06 million, nearly matching the entire US spot Bitcoin ETF sector's inflows of $109.8 million that day. This highlights Fidelity's dominant position, as other issuers combined brought in just over $6.7 million.
Fidelity has been a longstanding player in the Bitcoin space, offering related services since 2014 and launching Fidelity Digital Assets in 2019. The FBTC fund, introduced in 2024, is now one of the largest US spot Bitcoin ETFs by assets under management. It holds hundreds of thousands of BTC and charges a competitive expense ratio of 0.25%.
Beyond ETF flows, Fidelity's research arm has identified another source of Bitcoin demand: perpetual preferred stock issued by Bitcoin treasury companies. This funding mechanism has supported the purchase of 135,979 BTC through early October, representing about 0.5% of Bitcoin's total supply. This dual demand from ETF investors and corporate buyers suggests a robust accumulation trend in the Bitcoin market.