{"id":31604,"date":"2024-05-30T11:55:14","date_gmt":"2024-05-30T11:55:14","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/singapores-largest-bank-dbs-holds-650-million-in-eth-nansen\/"},"modified":"2024-05-30T11:55:14","modified_gmt":"2024-05-30T11:55:14","slug":"singapores-largest-bank-dbs-holds-650-million-in-eth-nansen","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/singapores-largest-bank-dbs-holds-650-million-in-eth-nansen\/","title":{"rendered":"Singapore\u2019s largest bank DBS holds $650 million in ETH: Nansen"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/dbs-bank-logo-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/dbs-bank-logo-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/dbs-bank-logo-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/dbs-bank-logo-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Singapore\u2019s DBS bank holds over 173.7k ETH worth $650 million.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Blockchain analytics plaform Nansen identified a whale wallet with the ETH as belonging to the bank.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">DBS, Singapore\u2019s largest bank that boasts nearly $740 billion in assets, holds <a href=\"https:\/\/coinjournal.net\/news\/tag\/ethereum\/\">Ethereum (ETH)<\/a> worth $650 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On Thursday, blockchain analytics firm Nansen <\/span><a href=\"https:\/\/x.com\/nansen_ai\/status\/1796087551486554590\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">revealed<\/span><\/a><span style=\"font-weight: 400\"> that a whale address with more than 173,700 ETH belongs to DBS. According to Nansen, the said wallet is $200 million in profit on the ETH holdings.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, the <a href=\"https:\/\/etherscan.io\/address\/0x9e927c02c9eadae63f5efb0dd818943c7262fb8e\" target=\"_blank\" rel=\"noopener\">wallet address<\/a> held 173,753 Ether tokens. At current ETH prices of $3,738, that\u2019s worth around $649.4 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While this report highlights DBS\u2019 crypto portfolio in terms of ETH holdings, it\u2019s worth noting that the bank has traction in the crypto space. DBS runs a digital asset custody and exchange, catering to accredited investors and announced <a href=\"https:\/\/coinjournal.net\/news\/dbs-bank-to-launch-a-retail-crypto-trading-desk-by-years-end-ceo-says\/\">plans to launch a crypto retail desk<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">DBS recently released a report that showed increased demand for crypto across retail and hedge funds among other investors. Per the <\/span><a href=\"https:\/\/www.dbs.com\/in\/sme\/aics\/templatedata\/article\/generic\/data\/en\/GR\/052024\/240514_insights_digital_assets.xml\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">research<\/span><\/a><span style=\"font-weight: 400\">, a lot of the interest is around \u201cETF-like financial products backed by cryptos.\u201d<\/span><\/p>\n<h2><span style=\"font-weight: 400\">SEC recently approved spot ETH ETFs<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Ethereum price reached highs of $4,000 in March and rose close to the mark this month after the US Securities and Exchange Commission (SEC) approved the rule change that allows for the listing of spot Ethereum ETFs in the US.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Anticipation is high ahead of the trading debut of ETH ETFs on exchanges. BlackRock\u2019s filing of an updated spot Ethereum ETF S-1 form has added to speculation that this could happen in coming weeks.<\/span><\/p>\n<p><span style=\"font-weight: 400\">More issuers whose 19b-4s the SEC approved recently are also expected to file their revised S-1s. Bloomberg senior ETF analyst Eric Balchunas <\/span><a href=\"https:\/\/x.com\/EricBalchunas\/status\/1795934675380109479\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">sees<\/span><\/a><span style=\"font-weight: 400\"> end of June as a probable timeline.<\/span><\/p>\n<p><span style=\"font-weight: 400\">DBS\u2019 holding of ETH among other tokens is an overall bullish indicator for Ethereum and the market, particularly in regards to institutional demand. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The positive sentiment around US regulatory approach to crypto also adds to this outlook.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/singapores-largest-bank-dbs-holds-650-million-in-eth-repor\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Singapore\u2019s DBS bank holds over 173.7k ETH worth $650 million. Blockchain analytics plaform Nansen identified a whale wallet with the ETH as belonging to the bank. DBS, Singapore\u2019s largest bank that boasts nearly $740 billion in assets, holds Ethereum (ETH) worth [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":31605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31604"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31604"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31605"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}