Bhutan Sovereign Fund Holds 116,000 stETH with 10% Unrealized Loss

Bhutan Sovereign Fund Holds 116,000 stETH with 10% Unrealized Loss

Recent data shows that Bhutan's sovereign wealth fund main wallet on Aave faced a critical health rate dip as Ethereum briefly dropped below $2,800.

The fund's loan health rate briefly fell below 1.2 but has since recovered to 1.22, still within a cautionary range. Between January 19 and 20, the fund's associated addresses actively leveraged ETH positions through margin trading.

• The fund currently holds 116,560 stETH, with an approximate 10% unrealized loss from its original cost.
• All stETH holdings are currently deposited on Aave, with the main wallet accounting for 104,000 stETH.
• The fund has borrowed 200 million USDT to support its leveraged positions.

This development highlights the impact of crypto market volatility on institutional portfolios and lending strategies. Market watchers should closely monitor on-chain activity and fund movements.