DBS, Singapore’s largest financial institution, announced it could start providing over-the-counter (OTC) choices buying and selling and structured notes linked to Bitcoin and crypto for institutional purchasers.
As a number one Asian monetary establishment with over $360 billion in belongings beneath administration, DBS is the most recent main conventional financial institution to embrace Bitcoin-linked monetary merchandise.
Beginning in This fall 2024, eligible institutional traders and accredited DBS Non-public Financial institution purchasers can entry tailor-made Bitcoin and crypto publicity by means of the OTC choices. This follows the rising demand from skilled traders allocating to Bitcoin and crypto.
“Skilled traders are more and more allocating to digital belongings of their portfolios. Now, our purchasers have an alternate channel to construct publicity to the asset class and incorporate superior funding methods,” mentioned 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 may additional increase its Bitcoin and crypto derivatives choices with the introduction of Bitcoin Friday futures (BFF).
Strikes by main banks like DBS will additional legitimize Bitcoin as asset lessons for institutional traders in Asia and worldwide. Many consider the broader availability of Bitcoin funding automobiles from respected suppliers will speed up mainstream adoption. If different main Asian banks observe DBS’s lead, it might considerably increase regional entry to Bitcoin.