Singapore's Largest Bank DBS Is an Ether Whale With Nearly $650M in ETH; BlackRock Gets $10M Seed Investment For iShares Ethereum Trust and Grayscale Adds Coinbase Custody
DBS, Singapore's largest bank, is an Ether (ETH) whale. BlackRock receives $10 million investment in iShares Ethereum Trust and Grayscale adds Coinbase Custody storage. An investor who buys a share of an ETF is initially funding it.
DBS, the largest bank in Singapore, is an ether (ETH) whale, according to on-chain analytics firm Nansen.
The blockchain address – 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e – supposedly owned by DBS held 173,753 ETH, worth $647 million at press time. At the time of writing, Ether changed hands at $3,730.
Nansen said that the address has made over $200 million from its ether holdings.
“In relation to the post, DBS does not have this position on our books,” a spokesperson said.
Ether is the native token of Ethereum, the world’s leading distributed computing platform for creating smart contracts and decentralized applications. Over the years, Ethereum has become a go-to technology for investment banks to tokenize capital markets.
BlackRock Gets $10M Seed Investment For iShares Ethereum Trust and Grayscale Adds Coinbase Custody
BlackRock, the world’s largest fund manager, has received $10 million in capital from the seed investor who bought shares in its upcoming iShares Ethereum Trust, filings show. The S-1 form, filed late Wednesday with the SEC, states that the seed investor bought 400,000 shares at $25 and will act as a “statutory underwriter.”
A seed capital investor initially funds an ETF to get it off the ground and trading on a stock exchange.
Coinbase is the custodian for 90% of the total assets stored in U.S. spot Bitcoin ETFs. With this new Grayscale filing, it has officially secured the same role for what will likely be one of the largest spot Ethereum ETFs.
Experts have expressed centralization concerns in the wake of the SEC approval of spot Ethereum ETFs. Coinbase is already the second largest Ethereum validator and is set to be the custodian of at least six out of the nine firms planning to launch an Ethereum ETF. In turn, experts have warned these centralization and concentration risks could pose a “serious risk to security.”
