DBS, Singapore’s largest financial institution, introduced it will start providing over-the-counter (OTC) choices buying and selling and structured notes linked to Bitcoin and crypto for institutional shoppers.
JUST IN: ðŸ‡ðŸ‡° Singapore's largest financial institution, DBS to launch #Bitcoin and crypto choices buying and selling. pic.twitter.com/lnres4MdMw
— Bitcoin Journal (@BitcoinMagazine) September 17, 2024
As a number one Asian monetary establishment with over $360 billion in property underneath administration, DBS is the newest main conventional financial institution to embrace Bitcoin-linked monetary merchandise.
Beginning in This fall 2024, eligible institutional buyers and accredited DBS Non-public Financial institution shoppers can entry tailor-made Bitcoin and crypto publicity by the OTC choices. This follows the rising demand from skilled buyers allocating to Bitcoin and crypto.
“Skilled buyers are more and more allocating to digital property of their portfolios. Now, our shoppers have another channel to construct publicity to the asset class and incorporate superior funding methods,” stated a DBS govt.
The information comes as extra monetary giants launch Bitcoin and crypto choices after the success of Spot Bitcoin ETFs within the US this yr. Earlier final month, CME Group additionally introduced, they’ll additional broaden its Bitcoin and crypto derivatives choices with the introduction of Bitcoin Friday futures (BFF).Â
Strikes by main banks like DBS will additional legitimize Bitcoin as asset lessons for institutional buyers in Asia and worldwide. Many consider the broader availability of Bitcoin funding autos from respected suppliers will speed up mainstream adoption. If different main Asian banks observe DBS’s lead, it may considerably broaden regional entry to Bitcoin.
