According to on-chain analytics firm Nansen, DBS, Singapore’s largest bank, is identified as a significant holder of Ethereum (ETH), with a wallet containing 173,753 ETH, valued at $647 million. Despite DBS denying ownership, Nansen reports over $200 million in gains from the ETH holdings. As interest in cryptocurrencies rises, DBS offers various crypto services, reflecting the growing institutional involvement in digital assets. Crypto markets anticipate the launch of ether exchange-traded funds (ETFs) in the U.S., following the success of Bitcoin ETFs.
