Rothschild Investment Corp. has recently invested in Grayscale Bitcoin Trust with 235,000 GBTC shares worth $235,000.
Buying Bitcoins As Traditional Stocks
Social media first introduced the headlines out open, more specifically a Turkish fintech investor with 51k followers, highlighting a Forbes article that Rothschild Investment Corp. is the latest to be a Bitcoin stakeholder through Grayscale Bitcoin Trust.
— Alp Işık (@AlppIsik) October 14, 2020
Grayscale Bitcoin Trust is a digital asset investment product launched in 2013 as a Bitcoin Investment fund. In 2020, the trust received status as an SEC reporting company. The firm had previously invested in GBTC during 2017, worth $210,00 at that time.
Based in the U.S., the exchange had also received approval from FINRA, letting investors trade its public shares under GBTC. Almost 20 financial giants have acquired GBTC products including Ark Invest, Addison Capital, Corriente Advisor, etc. All the financial behemoths are registered with the U.S. Securities and Exchange Commission (SEC). Rothschild Investments alone include $235,000 worth of GBTC, which is 27 Bitcoins in the form of stocks.
GBTC’s shares are pegged on the value of Bitcoin cryptocurrency, allowing investors to reap the benefits of Bitcoin’s price through a traditional investment route.
No Relation Between Rothschild Investment Corp. and the Rothschild Family
Rumors are making rounds on the Internet over connections between Rothschild Investment Corp. and the Rothschild Family. It is worth clarifying that the two entities have no relations between them as such. The trust had even clarified various times on social media regarding the confusion.
The Rothschild Investment Corp. is not the only financial giant to invest in Bitcoin. Over the past few months, multiple public companies acquired Bitcoin as its reserve asset. Data from Bitcoin Treasuries reveals that publicly trading companies are currently holding around 2.92% of Bitcoin’s total supply, with MicroStrategy Inc. leading at a market cap of over $1.5 billion and currently holding 38,250 BTC.