A Whale of Ethereum: DBS, Singapore’s largest bank, is identified by Nansen as an Ethereum whale, with a blockchain address containing 173,753 ETH, valued at $650 million.
A spokesperson for DBS denied that the bank holds this position in its books.
DBS is actively involved in the crypto space, offering services such as digital asset custody and a trading platform.
The largest bank in Singapore, DBS, is being referred to as an Ethereum ‘whale,’ with an impressive number of ETH holdings, according to information provided by blockchain analytics firm Nansen.
It appears that the blockchain address 62fb8e allegedly owned by DBS holds 173,753 ETH, valued at $650 million. This address has already generated a $200 million profit with this investment.
Position officielle de la banque DBS
Despite Nansen’s claims, a spokesperson for DBS states that the bank does not recognize this investment.
Regarding this post, DBS does not have this position in its books.
DBS spokesperson
This statement raises questions about the accuracy of the data or the discretion of the bank’s investment strategies. ETH continues to attract the attention of global financial platforms for its potential in smart contract creation and decentralized applications, especially since the approval of Ethereum Spot ETFs.
L’engagement de DBS dans la crypto
DBS is not new to the crypto space. It offers a range of services including digital asset custody, a trading exchange, and a portfolio management application for traditional and crypto assets.
A recent report from the bank highlights the growing interest in the crypto market from individual investors, high-frequency traders, and speculative funds.
Anticipation des ETF Ethereum et adoption institutionnelle
Nansen’s revelations about DBS’s ETH holdings come as the crypto market eagerly awaits the launch of Ethereum Spot ETFs in the United States, an event expected to drive institutional adoption of the cryptocurrency.
Since 2020, several publicly traded companies have started diversifying their reserves by primarily turning to Bitcoin, with Bitcoin ETFs beginning to trade in the United States in January.
