Giant Trading Company Discloses to SEC: Its Holdings in This Cryptocurrency Have Become One of Its Largest Holdings

Chicago-based trading firm DRW owns decided that it holds $150 million in Ethereum ETFs, gaining it one of its best outlays. According to a recent SEC filing, the posture denotes 6% of DRW’s overall portfolio.

In relevant description, Cumberland, a cryptocurrency firm associated using DRW, owns made headings after relocating a systematic amount of Tether in a quickly period of time. Over the past eight days, Cumberland owns sent more than $1 billion well worth of Tether stablecoins to centralized marts (CEX) such as Binance, Coinbase, and also Sea serpent. This activity was spotted by LookOnChain information.

The reinforce in Tether transmits by Cumberland connotes a strategic activity to accrue assets throughout the arenae downheartedness. The activity started comfortably after the international cryptocurrency arenae well-alerted a systematic entropy on August 5. Throughout this period, the rate of Bitcoin fell listed underneath $50,000 and also the overall arenae well worth of cryptocurrencies fell to $1.8 trillion.

However, the SEC filing did not require any possible assets the carrier patronized cryptocurrency marts.

*This is not monetary expense advices.