Fidelity has significantly expanded its digital asset exposure in 2025, with its cryptocurrency holdings climbing by more than $5.3 billion year-to-date, according to fresh data compiled by Finbold research.
As of January 1, 2025, Fidelity’s two flagship spot crypto ETFs, the Fidelity Bitcoin ETF (FBTC) and Fidelity Ethereum ETF (FETH) reported combined holdings of 201,163 BTC and 462,250 ETH, valued at $20.55 billion as per the data retrieved from Lookonchain.
By August 20, 2025, those holdings had risen to 199,127 BTC and 728,939 ETH, worth a total of $25.92 billion at prevailing market prices.
In total, this amounts to a 26.1% increase, translating into $5.37 billion of additional crypto exposure in less than eight months.
Bitcoin vs. Ethereum flows
While Fidelity’s BTC exposure dipped slightly in terms of unit holdings (down about 2,000 BTC), the dollar value of its Bitcoin holdings surged by $3.76 billion (+19.8%), thanks to Bitcoin’s rally from $92,595 to $113,500 over the same period.
Ethereum, however, was the standout. Fidelity’s ETH stash ballooned from 462,250 ETH to 728,939 ETH, a 62% increase in tokens held, driving a 103.9% surge in dollar terms from $1.55 billion to $3.16 billion.
Beyond ETFs
It’s important to note that Fidelity’s crypto footprint extends beyond FBTC and FETH. Through its Fidelity Custody arm, the firm also safekeeps assets for major institutional clients, including corporates and hedge funds.
Arkham data pegs Fidelity’s broader custody book at $46.21 billion (as of August 20), up nearly $10 billion from the start of the year when its total holding were $36.22 billion.
On-chain records further show active transfers between Fidelity Custody and Coinbase, including multi-million-dollar BTC outflows, standard ETF and custody operations, but also a sign of high client activity.
With over $45 billion in digital assets under custody, Fidelity has firmly established itself as one of the largest traditional finance players in the crypto ecosystem, a trend likely to accelerate as spot ETFs deepen their foothold in U.S. capital markets.
As Finbold research reported last week, between January 1, 2025, and August 14, 2025, BlackRock’s crypto portfolio surged by $49.15 billion, growing from $54.83 billion to $103.98 billion.