DRW Holdings’ crypto buying and selling arm Cumberland on Friday withdrew 14,800 ether, value about $31 million, from Coinbase, doubling its digital asset accumulation amid continued market volatility, in keeping with knowledge tracked by Lookonchain.
Roughly 457,000 cash are at present saved in wallets bearing the Cumberland label. $ETH It’s value greater than $940 million.
The transfer follows Cumberland’s switch on Thursday. Knowledge reveals that wallets linked to the entity withdrew 46,620 $ETH It’s valued at almost $100 million from Coinbase, Binance, and Copper.
Cumberland continued to build up $ETHwithdraw one other 14,800 $ETH($30.8M) #Coinbase ~half-hour in the past. https://t.co/2CNtRUpICkhttps://t.co/bUruFIhPoB pic.twitter.com/vsQ3lPHnVk
— Lookonchain (@lookonchain) March 6, 2026
Ethereum has established itself because the second-largest crypto asset by market capitalization, making it a pure focus for institutional allocation methods.
The community’s ecosystem of decentralized functions, its staking yield potential, and function as collateral throughout lending protocols supplies a number of use circumstances that might enchantment to institutional portfolios looking for digital asset publicity past Bitcoin.
Based on CoinGecko, Ethereum was buying and selling round $2,000 on the time of writing, down 3% up to now 24 hours.
Cumberland’s father or mother firm, DRW Holdings, operates as one of many world’s largest proprietary buying and selling firms with operations spanning conventional monetary markets and digital belongings.
The corporate established its crypto division in 2014, making it one of many earliest institutional traders to enter the digital asset buying and selling house. Since then, Cumberland has grown into a number one liquidity supplier serving institutional traders, exchanges, and crypto-native firms.
Disclosure: This text was edited by Vivian Nguyen. Please see our Editorial Coverage for extra info on how we create and evaluate content material.
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