The latest data shows that Fidelity's Ethereum ETF product (Fidelity FETH ETF) has transferred a total of 13,235 Ethereum tokens worth approximately $36.29 million from the Coinbase platform and Cumberland DRW market makers in the last 4 hours, with the average price of Ethereum during the transfer being around $2,742. This large withdrawal operation likely indicates that funds are flowing into this ETF product, reflecting institutional interest in the Ethereum market. This trend may impact short-term ETH price movement and is worth close attention from market participants.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The latest data shows that Fidelity's Ethereum ETF product (Fidelity FETH ETF) has transferred a total of 13,235 Ethereum tokens worth approximately $36.29 million from the Coinbase platform and Cumberland DRW market makers in the last 4 hours, with the average price of Ethereum during the transfer being around $2,742. This large withdrawal operation likely indicates that funds are flowing into this ETF product, reflecting institutional interest in the Ethereum market. This trend may impact short-term ETH price movement and is worth close attention from market participants.