Fidelity-Linked Wallet Transfers $95.7M in Ethereum Ahead of Possible Coinbase Sale

A large Ethereum investor has moved $95.7 million in cryptocurrency from a wallet linked to Fidelity, a traditional financial firm that offers crypto custody and trading services.

The transfer was detected by blockchain tracking firm Onchain Lens, which monitors large transactions between wallets.

The whale purchased 50,000 ETH worth around $95.73 million from the Fidelity-linked wallet in a single transaction.

A significant portion of the funds, 36,530 ETH, were then moved to a new wallet address just three hours after the initial purchase.

This pattern suggests that the whale may be preparing to sell the ETH on Coinbase, although it could also indicate an over-the-counter trade or custodial arrangement.