LATEST: Singapore’s DBS Bank Owns Almost $650M in Ether, Nansen Report

Singapore’s leading financial institution, DBS Bank, has emerged as a major Ethereum investor. According to Nansen, a respected on-chain analytics firm, DBS holds an impressive 173,753 ETH, valued at $647 million, in a blockchain address identified as 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e. The current market price of Ether stands at $3,730.

This revelation underlines DBS’ commitment to the digital asset sector, offering services like digital asset custody, a trading exchange for security tokens, and a dual asset management app. The bank’s activities showcase the expanding acceptance of cryptocurrencies in traditional finance, driven by rising interest from various investor segments including retail and hedge funds.

As the U.S. anticipates the launch of spot ether exchange-traded funds, which are expected to further institutional adoption, DBS’ significant crypto engagements reflect a broader trend of mainstream financial entities integrating cryptocurrencies into their operations. This movement towards digital assets suggests a robust future for the market, with institutional support playing a pivotal role.

Nansen

Empire Newsletter: Pump.fun is a big winner of the celeb memecoin craze

Pick-me coins

They say you should sell shovels during a gold rush. 

Pump.fun, the Solana memecoin generator, has certainly nailed that strategy. So much so that minting a personalized token on the platform is now, apparently, a rite of passage for celebs.

Over the past four days, Caitlyn Jenner’s X account has nonstop bullposted about her own token, $JENNER, which her team launched on Pump.fun earlier this week. 

The videos are strange and surreal, leading to some speculation that Jenner’s account had been compromised with deepfakes, all to pump and dump an unofficial memecoin. 

Iggy Azalea confused the matter by launching her own memecoin, MOTHER, amid the hype. She also outed…

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BlackRock Bitcoin ETF | Surpassing Grayscale

In a remarkable turn of events, BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT) has overtaken Grayscale’s Bitcoin Trust (GBTC) to become the largest Bitcoin exchange-traded fund (ETF).

This transition marks a significant milestone in the competitive landscape of Bitcoin ETFs, highlighting BlackRock’s rapid ascent in the market.

On May 28, BlackRock’s IBIT experienced a notable inflow of $102 million, while Grayscale’s GBTC saw outflows amounting to $105 million.

According to data from Apollo, this shift in investments pushed IBIT’s holdings to 288,670 BTC, surpassing GBTC’s 287,450 BTC. As a result, IBIT’s assets reached nearly $20 billion,…

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NEW: Bloomberg’s Eric Balchunas Announces Ethereum ETFs Approval Date

The U.S. Securities and Exchange Commission (SEC) has recently approved the 19b-4 filings for spot Ethereum ETFs, stirring significant market enthusiasm. This approval brings Ethereum directly into the spotlight, demonstrating growing regulatory comfort with cryptocurrency-based investment products.

Eric Balchunas, a senior ETF analyst at Bloomberg, noted in his latest X post that following BlackRock’s updated S-1 filing with the SEC, other companies are quickly gearing up to complete their necessary paperwork. This swift action highlights the financial sector’s readiness to embrace Ethereum-based ETFs, expected to debut as soon as late June or by July 4th.

This momentum is seen as a major step forward for the acceptance of cryptocurrencies in mainstream investment portfolios, signaling a potentially transformative phase for Ethereum and the broader crypto market.

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