#ETH DBS Bank's huge Ether holdings exposure: holding 173,000 ETH, with unrealized gains exceeding 200 million US dollars.. Will it dump? The Securities and Exchange Commission officially approved the 19b-4 file for the Ethereum spot ETF in the early morning of the 24th, marking an important step towards the listing of the Ethereum spot ETF. With the expected favorable news about to be passed, it has driven Ethereum back above the $3900 mark.

Holding Ethereum has made over 200 million US dollars.
In this context, the blockchain analysis platform Nansen today (30th) monitored a Whale address, which holds 173,000 ETH, with a total value of up to $650 million, and the rising price has earned its ETH holdings over $200 million in unrealized profits.

More importantly, Nansen pointed out that the user of this address is the largest bank in Singapore - DBS Bank.

Suspected wallet for storing user funds
Such a large amount of money has made some in the community worried that DBS Bank may take advantage of the rise in Ethereum to sell off Ether. However, according to Chain News observation, the address in question appears to be a wallet used by DBS Bank to store user's Ethereum assets.

According to Etherscan data, the transaction records of this address can be traced back to December 15, 2020, which coincides with the previous report by BlockTempo that DBS Bank launched its digital asset exchange, DBS Digital Exchange. Therefore, these ETH are most likely held in custody by the bank for users rather than for its own investment, so the risk of a large-scale sell-off should be reduced.#ContentStar #BTC #比特币