ETH Surges as DBS Bank Launches Tokenized Notes on Ethereum
Ethereum's latest price surge is driven by institutional access in Singapore.
Key Developments
- DBS Bank launched tokenized structured notes on the Ethereum blockchain.
- Available to institutional investors via exchanges ADDX, DigiFT, and HydraX.
- The first product is a crypto-linked participatory note offering cash payouts when crypto prices rise, while limiting losses if prices fall.
- Each note is priced at $1,000 for easier trading among family offices and professional investors.
- Singapore's GDP increased from $308 billion in 2014 to over $547 billion in 2024, signaling economic strength.
Current Market Status
Ethereum (ETH) gained 3% in the last 24 hours, trading at $4,310 with a market cap of $520 billion. This follows a drop to $4,100 on August 20 amid market uncertainty.
Increased institutional interest is anticipated as a result of these developments.