On January 20, according to Emmett Gallic monitoring, addresses associated with the Bhutan Sovereign Wealth Fund Druk Holdings appear to be engaging in leveraged long ETH: withdrawing 42,000 ETH and 54 million USDT from CEX, converting USDT to ETH and depositing into Aave, and borrowing 275 million USDT for further ETH purchases. Currently, this leveraged position is about 117,000 ETH, worth approximately $459 million.
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Bhutan Sovereign Wealth Fund leverages related addresses to go long on ETH, currently holding approximately 117,000 ETH.
On January 20, according to Emmett Gallic monitoring, addresses associated with the Bhutan Sovereign Wealth Fund Druk Holdings appear to be engaging in leveraged long ETH: withdrawing 42,000 ETH and 54 million USDT from CEX, converting USDT to ETH and depositing into Aave, and borrowing 275 million USDT for further ETH purchases. Currently, this leveraged position is about 117,000 ETH, worth approximately $459 million.