On February 3, according to new data from monitoring firm The Data Nerd, DBS Bank acquired 2,500 ETH from Wintermute, worth approximately $5.85 million.
This wasn't DBS Bank's only move this week — statistics show the bank has accumulated a total of 24,898 ETH over the past seven days, with an average acquisition price of around $2,463.
These moves indicate DBS Bank's strong confidence in Ethereum's long-term value. Notably, DBS Bank is Singapore's first major traditional financial institution to fully embrace digital assets.
- Daily purchase: 2,500 ETH
- Daily value: $5.85 million
- Weekly total: 24,898 ETH
- Total value: $61.34 million
Market analysts suggest that DBS Bank's activities could signal a significant shift in how traditional financial institutions are approaching cryptocurrency assets.