DBS Bank Holds $647 Million Worth of Ether, Reveals Nansen

• DBS owns 173,753 ETH, valued at $647 million.
• The address made over $200 million from ether holdings.
• DBS is considered an ETH whale by Nansen.
• DBS offers crypto services like custody and trading.
• DBS highlights growing interest in crypto market.
• Spot ether ETFs in the U.S. expected to boost adoption.

Summary :
DBS, the largest bank in Singapore, is reportedly an ether (ETH) whale, holding 173,753 ETH worth $647 million at the time of writing. The blockchain address associated with DBS has already made over $200 million from its ether holdings. Nansen, an on-chain analytics firm, revealed these details about DBS' crypto holdings. Ether is the native token of Ethereum, a popular platform for creating smart contracts and decentralized applications. DBS is not new to the crypto space and offers various services, including digital asset custody and a trading exchange for security tokens. The bank's recent report highlighted the growing interest in cryptocurrencies from retail investors, high-frequency traders, and hedge funds. Nansen's disclosure of DBS' ether holdings comes at a time when the crypto market is eagerly anticipating the launch of spot ether exchange-traded funds in the U.S., which are expected to drive institutional adoption. In recent years, many listed companies have diversified their reserves by investing in crypto, particularly bitcoin. Bitcoin ETFs started trading in the U.S. in January.

Sources :

- Coindesk