DBS, Singapore's largest bank, announced It would begin offering over-the-counter (OTC) options trading and structured notes linked to bitcoin and cryptocurrencies for institutional clients.
<blockquote class="twitter-tweet”>
BREAKING NEWS: Singapore's largest bank DBS to launch twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin and cryptocurrency options trading. image.twitter.com/lnres4MdMw
— bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1835990279288938656?ref_src=twsrc%5Etfw”>September 17, 2024
As a leading Asian financial institution with over $360 billion in assets under management, DBS is the latest major traditional bank to adopt bitcoin-linked financial products.
Starting from Q4 2024, eligible institutional investors and accredited clients of DBS Private Bank will be able to access tailored exposure to bitcoin and cryptocurrencies through OTC options. This responds to the growing demand from professional investors investing in bitcoin and cryptocurrencies.
“Professional investors are increasingly investing in digital assets in their portfolios. Now, our clients have an alternative channel to gain exposure to this asset class and incorporate advanced investment strategies,” said a DBS executive.
The news comes at a time when more financial giants are launching bitcoin and cryptocurrency offerings following the success of spot bitcoin ETFs in the US this year. Earlier last month, CME Group also announced that it will further expand its bitcoin and cryptocurrency derivatives offerings with the introduction of bitcoin Friday futures (BFF).
The moves made by major banks like DBS will further legitimize the use of bitcoin as an asset class for institutional investors in Asia and around the world. Many believe that the increased availability of bitcoin investment vehicles from trusted providers will accelerate mainstream adoption. If other major Asian banks follow DBS’s lead, it could significantly expand regional access to bitcoin.
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