According to Nansen, addresses allegedly owned by DBS have already made $200 million from their Ether holdings.
According to Nansen, the blockchain address 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e, which is reportedly controlled by DBS, contained 173,753 ETH at press time.
The address has already generated $200 million from its ether holdings.
According to Nansen, addresses allegedly owned by DBS have already made $200 million from their Ether holdings.
The native token of Ethereum, the most popular distributed computing platform for building decentralized apps and smart contracts across the world, is called Ether. Investment banks are now making Ethereum their preferred platform when tokenizing capital markets.
The bank is not new to cryptocurrency and offers a range of services, such as custody for digital assets, a security token trading platform, and an app for managing portfolios containing both traditional and digital assets.
Hedge funds, high-frequency traders, and regular investors are becoming more interested in the cryptocurrency sector, according to a recent analysis from the bank.
The crypto market is eagerly awaiting the launch of spot Ether exchange-traded funds in the US, which is expected to boost institutional acceptance of cryptocurrencies in the mainstream. Nansen’s disclosure about DBS’s Ether holdings comes at the same time.
Since 2020, some publicly traded companies have turned to cryptocurrencies, particularly Bitcoin, to diversify their reserves. Bitcoin ETFs began trading in the United States in January.
