Singapore's Largest Bank DBS Is an Ether Whale With Nearly $650M in ETH: Nansen
Summary
DBS, Singapore's largest bank, reportedly holds 173,753 Ether (ETH), valued at $647 million, according to on-chain analytics firm Nansen. The bank has reportedly made over $200 million from its ETH holdings. DBS offers various crypto services, including digital asset custody, a trading exchange for security tokens, and a portfolio management app for traditional and crypto assets. The bank recently reported growing interest in the crypto market from retail investors, high-frequency traders, and hedge funds. This news comes as the crypto market anticipates the launch of spot ether exchange-traded funds in the U.S., expected to increase the cryptocurrency's mainstream institutional adoption.
