Singapore’s largest bank, DBS, has been revealed to be an Ether whale, holding nearly $650 million in ETH, according to on-chain analytics firm Nansen. The bank’s blockchain address, 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e, currently holds 173,753 ETH, making over $200 million in profit from its ether holdings. DBS is not new to the crypto space, offering various services such as digital asset custody and a trading exchange for security tokens. The bank’s interest in the crypto market coincides with the anticipation of spot ether exchange-traded funds in the US, which are expected to drive institutional adoption of the cryptocurrency. This revelation further highlights the growing acceptance of cryptocurrencies in traditional finance.
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Singapore’s Largest Bank DBS Is an Ether Whale With Nearly $650M in ETH: Nansen
