Rothschild Investment Corporation recently bought 265,302 shares of the Grayscale Ethereum Trust, its first investment in the vehicle

According to an April 15 filing with the US Securities and Exchange Commission (SEC), Chicago-based financial institution Rothschild Investment Corp, it acquired 265,302 shares in Grayscale’s ETH trust. As such, Rothschild increased the total number of cryptocurrency holdings from 30,454 in January to 38,346 this month.

Rothschild acquired over 250,000 shares in Grayscale’s ETH trust, added 8000 shares to BTC trust holdings

The company also added more Grayscale Bitcoin trust shares to its stake, with the latest SEC filing revealing that it increased the number from 30,454 in January to 38,346 this month. The manager disclosed Thursday its shares in the ETH trust were worth $ 4.75 million on March 31 and its holdings in the BTC trust were worth $ 1.92 million.

Rothschild Investment has been accumulating GBTC since 2017, and the latest records show the company’s appetite for crypto has not slowed down.

Ether proponent Ryan Adams, founder of crypto investment firms Mythos Capital and Bankless, commented on the latest move noting that:

“BTC is the gateway drug to ETH.”

The brokerage firm’s history goes back to 1908, and it has been investing in cryptocurrencies for a relatively long time compared with the massive institutional cash flow that has flooded in during the past 12 months. An SEC filing shows that the company owned GBTC worth $ 210,000 in July 2017, when BTC was valued at around $ 2000.

Monroe Rothschild founding members and brother-in-law Samuel Karger are believed to be unrelated to the famous Rothschild family dynasty, which confused the crypto community even though the New York Times published an article clarifying the situation in 1995.

Grayscale is the leading US digital asset manager providing institutional exposure to cryptocurrencies, the company holds around 660,000 BTC, accounting for 3.5% of the BTC in circulation.

The company revealed yesterday that their total managed assets have now reached $ 50.6 billion, their ETH trust fund, or ETHE, now amount to more than $ 7 billion AUM, in stock it is currently trading at around $ 24. GTBC has surpassed $ 41 billion in AUM and the stock is trading at around $ 59.

You can see the BTC price here.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS