The leading financial institution at Chicago Rothschild Investment Corporation invested 30,454 shares in Grayscale’s Bitcoin Trust

According to a Monday morning filing with the United States Securities and Exchange Commission, the leading financial institution at Chicago Rothschild Investment Corporation has invested heavily in Grayscale’s Bitcoin Trust.

Rothschild holds 30,454 shares of Grayscale’s GBTC

Rothschild reported owning 30,454 shares of GBTC as of Dec. 31, 2020, according to Form 13F-HR, also known as the institutional manager holdings report. In its October filing, the firm reportedly owned 24,500 shares.

According to its corporate website, Rothschild Investment Corp was founded in 1908 as Rothschild & Company. Its founders, Monroe Rothschild, and brother-in-law Samuel Karger started the firm as a full-service brokerage. However, it’s not part of the Rothschild family dynasty.

GBTC represents publicly quoted shares of Grayscale’s increasingly popular Bitcoin Trust, which now has over $20 billion in assets under management. GBTC generated $217.1 million in average weekly inflows during the fourth quarter, a new record high.

GBTC currently trades at less than $34.00 per share.

Rothschild increased its exposure to Bitcoin during a pivotal time in the cryptocurrency’s bull market. Bitcoin’s price nearly tripled in the fourth quarter before peaking near $42,000 in early January. Although price action has cooled off somewhat, BTC price is currently hovering around $34,000.

The investment manager is one of several big-name institutional players to enter the cryptocurrency market in the past year. This trend is expected to continue as central banks and governments expand their monetary base to support the post-pandemic recovery. In this vein, Bitcoin is increasingly viewed as a monetary hedge against inflation.

Digital assets will be top of mind at this week’s Davos Agenda. The summit, which is hosted by the World Economic Forum, features two sessions focused on resetting digital currencies. Although the discussions are likely to center around central bank digital currencies, they magnify Bitcoin’s disruptive impact on traditional finance.

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