Rothschild Investment Corp has purchased 265,302 shares in Grayscale ETH trust and 8000 BTC trust, according to a filing with the United States Securities Commission on April 15. However, one should know that the firm holds zero ties to the famed Rothschild family dynasty.
Along with this, the firm also increased its holdings of Grayscale Bitcoin trust shares, going from 30,454 in January to 38,346 this month, according to the latest SEC filing.
Rothschild Purchase of Grayscale ETH and BTC Trusts Shows Crypto Exposure is on
Since 2017, the Chicago-based financial institution, Rothschild Investment has been amassing GBTC, and the latest filing shows that the firm’s appetite for crypto growth isn’t waning. Ryan Adams, the founder of crypto investment company Mythos Capital and Bankless, said that “BTC is the gateway drug to ETH” in response to the latest change.
The investment firm has a history dating back to 1908, and it has been investing in cryptocurrency for a long time compared to the recent influx of institutional investors. In July 2017, when BTC was around $2000, the firm owned $210,000 worth of GBTC, according to an SEC filing.
In an SEC filing today, Rothschild Investment Corporation reported owning 38,346 shares of GBTC.
In January, it reported owning 30,454 shares.
Today's filing also reported 265,302 shares of Grayscale ETH Trust. This is a new position.
— MacroScope (@MacroScope17) April 15, 2021
Grayscale is the leading U.S. digital asset manager with institutional crypto exposure, with about 660,000 BTC on hand, accounting for around 3.5 percent of all BTC in circulation, at the time of writing.
Total Asset Under Management of Grayscale Reaches $50.6 Billion
The company announced yesterday that its total assets under management have surpassed $50.6 billion, with its ETH trust, or ETHE, now having more than $7 billion in AUM and it’s stock trading at about $24. GTBC’s AUM has reached $41 billion, and its stock is currently valued at about $59.
04/15/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) April 15, 2021
The last spike in Grayscale’s total value of Bitcoin holdings came after the world’s first cryptocurrency skyrocketed above $64,500 on 14 April, and this is the highest to date.