Cumberland, the crypto buying and selling arm of DRW Holdings, withdrew 14,800 Ethereum valued at roughly $31 million from Coinbase on Friday, doubling down on digital asset accumulation amid ongoing market volatility, in keeping with information tracked by Lookonchain.
The Cumberland-labeled pockets at the moment holds virtually 457,000 ETH value over $940 million.
The most recent switch follows Cumberland’s Thursday transfer. Knowledge reveals that wallets linked to the entity pulled 46,620 ETH value almost $100 million from Coinbase, Binance, and Copper.
Cumberland continued accumulating $ETH, withdrawing one other 14,800 $ETH($30.8M) from #Coinbase ~half-hour in the past.https://t.co/2CNtRUpICkhttps://t.co/bUruFIhPoB pic.twitter.com/vsQ3lPHnVk
— Lookonchain (@lookonchain) March 6, 2026
Ethereum’s place because the second-largest crypto asset by market capitalization makes it a pure focus for institutional allocation methods.
The community’s ecosystem of decentralized purposes, its staking yield potential, and its position as collateral throughout lending protocols present a number of use instances which will attraction to institutional portfolios searching for digital asset publicity past Bitcoin.
Ethereum was buying and selling at round $2,000 at press time, down 3% within the final 24 hours, per CoinGecko.
DRW Holdings, Cumberland’s dad or mum firm, operates as one of many largest proprietary buying and selling companies globally with operations spanning conventional monetary markets and digital property.
The agency established its crypto division in 2014, making it one of many earliest institutional entrants into the digital asset buying and selling house. Cumberland has since grown right into a principal liquidity supplier serving institutional purchasers, exchanges, and crypto-native companies.
