Markets· ★★· neutral·

Fidelity did not sell $197M in Bitcoin — claim stems from misread custody and ETF data

  • —Arkham clarified the 3,568 BTC (~$297M) moved on September 29 were internal Fidelity Custody transfers, not a sale
  • —Strategy bought 1,665 BTC (~$142.7M) between September 21 and 27, lifting holdings to 847,666 BTC
  • —The $197.09M figure is close to the $197.4M weekly net inflow into US spot Bitcoin ETFs ended July 11, 2026
  • —In early October 2026 FBTC saw $50.7M in net outflows driven by investor redemptions, not a corporate sale
Why it matters: The episode shows how custody transfers and ETF flows get misread as sales, distorting how institutions' Bitcoin demand is assessed.
#BTC
Source: Crypto Briefing
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