Chicago-based financial institution Rothschild Investment Corp has acquired 265,302 shares in Grayscale’s ETH trust, according to an April 15 filing with the United States Securities Commission or SEC.
The company also added more grayscale Bitcoin trust stocks to its holdings, with the latest SEC filing revealing that it increased its number from 30,454 in January to 38,346 this month.
Rothschild Investment has been collecting GBTC since 2017, and the latest filing shows that the company’s interest in cryptocurrency exposure is not waning. Ether proponent Ryan Adams, founder of crypto investment firm Mythos Capital and Bankless, noted that “BTC is the gateway drug to ETH.”
BTC is the gateway drug for ETH https://t.co/1w7p66OkOF
– RYAN SΞAN ADAMS –rsa.eth (@RyanSAdams) April 15, 2021
The brokerage firm’s history dates back to 1908 and has been investing in crypto for a relatively long time compared to the massive influx of institutions that have invaded over the past 12 months. A SEC filing revealed that the company owned $ 210,000 worth of GBTC in July 2017, when BTC cost about $ 2,000.
Founders Monroe Rothschild and brother-in-law Samuel Karger are reportedly unrelated to the famous Rothschild family dynasty, much to the confusion of the crypto community, despite the New York Times publishing an article clarifying the situation in 1995.
Not the Rothschild you think https://t.co/KVUy9u1ETy
– Yann Ranchere (@tek_fin) July 23, 2017
Grayscale is the leading US digital asset manager offering institutional exposure to crypto, the company owns approximately 660,000 BTC, which accounts for 3.5% of the BTC in circulation.
The company revealed yesterday that its total assets under management have now reached $ 50.6 billion, its ETH trust, or ETHE, is now worth over $ 7 billion in AUM, with its shares currently trading at around $ 24. GTBC has surpassed $ 41 billion in AUM and the stock is trading at approximately $ 59.
04/15/21 UPDATE: Net assets under management, positions per share and market price per share for our investment products.
– Grayscale (@Grayscale) April 15, 2021