Viral reports claiming that Fidelity sold $197.09 million in Bitcoin lack factual evidence. Analysts suggest these rumors stem from a misinterpretation of on-chain custody transfers and ETF flow data.
On September 29, 2026, trackers identified 12 transfers totaling 3,568 BTC, valued at approximately $297 million, from wallets linked to Strategy. Arkham Intelligence confirmed these were internal reallocations within Fidelity Custody rather than sales.
Strategy continued its accumulation, purchasing 1,665 BTC for approximately $142.7 million between September 21 and September 27, 2026. The company now holds 847,666 BTC at an average cost of $75,437 per coin.
Confusion also arose from ETF data. While US spot Bitcoin ETFs saw net inflows of $197.4 million in the week ending July 11, 2026, individual funds like Fidelity's FBTC experienced offsetting outflows.
In early October 2026, FBTC recorded $50.7 million in net outflows. These movements reflect investor redemptions rather than corporate-level divestment by the fund manager.
