DBS received 2,000 ETH from Galaxy Digital, adding to sizable onchain Bitcoin and Ethereum holdings
Ethereum rebounded above $3,120 as volume surged over 120% during the price recovery
DBS and Goldman Sachs completed a landmark interbank OTC Bitcoin and Ether options trade
DBS Bank, Singapore’s largest financial institution, has received an additional transfer of Ethereum (CRYPTO: $ETH) from Galaxy Digital (NASDAQ: $GLXY), according to onchain data tracked by blockchain analysts. The transaction involved approximately 2,000 ETH, valued at about $6.27 million at the time of transfer.
Blockchain monitoring data indicates that the ETH was withdrawn from wallets associated with Galaxy Digital, a crypto financial services firm. While DBS has not publicly confirmed ownership of the receiving address, analysts who track institutional wallets attribute the transaction to the bank based on historical patterns of wallet activity.
https://x.com/WhaleInsider/status/2000496963985498199?s=20
Following the latest transfer, DBS is estimated to hold approximately 158,770 ETH, valued at $499 million, alongside 7,861 BTC worth about $706.5 million. The recent Ethereum transfer represents a small portion of the bank’s total reported cryptocurrency holdings, based on current valuations cited by onchain trackers.
Ethereum Price Rebounds as Activity Surges
The transaction coincided with a period of recovery in Ethereum’s market price. At the time of writing, Ethereum was trading at $3,161, recording a 24-hour gain of about 1.8%, according to CoinMarketCap data. Intraday price action showed ETH declining earlier in the session before recovering above the $3,120 level.
Source: CoinMarketCap
Additionally, trading activity increased alongside the price recovery. Ethereum’s 24-hour trading volume rose to around $20.7 billion, representing an increase of more than 120%.
DBS and Goldman Sachs Complete OTC Crypto Options Trade
The ETH transfer follows an earlier reported move involving DBS and Goldman Sachs, which completed the first over-the-counter cryptocurrency options trade conducted between two banks. The transaction involved cash-settled Bitcoin and Ether options, which were carried out outside traditional exchanges.
According to the report, such OTC options allow firms offering crypto-linked products to manage exposure risk more precisely. DBS disclosed that in the first half of 2025, its clients executed more than $1 billion in cryptocurrency options and structured note trades, with volumes increasing nearly 60% from the first quarter to the second quarter of the year.
Both banks described the trade as part of the development of an interbank market for cash-settled cryptocurrency options, corresponding to growing institutional participation in digital asset derivatives.
COMTEX_471140318/2797/2025-12-15T19:28:50