Rothschild Investment Corp has acquired over 250,000 shares in the ETH-related Greyscale fund and has also bought a number of BTC-related shares. It is worth adding that the company has no ties to the famous Rothschild family.
Rothschild Investment Corp enters the ETH market
Chicago-based financial institution Rothschild Investment Corp has just acquired a 265,302 stake in Grayscale’s ETH fund. The information is given in statement filed with the US Securities and Exchange Commission (SEC) on April 15.
The company also bought more trust shares related to Bitcoin. It increased its total result from 30,454 (this is what it had in January this year) to 38,346.
Rothschild Investment has been collecting GBTC since 2017, and the latest report shows that the company’s appetite for cryptocurrency exposure is not slowing down.
Ryan Adams, founder of the cryptocurrency firm Mythos Capital and Bankless, commented on the recent move, noting that “BTC is a drug that opens the way to ETH.
A well-known name and a bad association
The history of the brokerage company Rothschild Investment dates back to 1908. This entity has been investing in cryptocurrencies for a relatively long time. The SEC document showed that the company owned a $ 210,000 GBTC as early as July 2017 when the BTC price was around $ 2,000.
The company’s founding members, Monroe Rothschild and his brother-in-law, Samuel Karger, are reportedly not related to the famous and controversial Rothschild family. Hence, cryptocurrency fans do not have to worry that “those” Rothschilds invest in BTC.
Grayscale is a leading US digital asset management company offering institutional exposure to cryptocurrencies. The company has approximately 660,000 BTC, which is 3.5% of BTC in circulation.
The company revealed yesterday that the assets it manages are as high as $ 50.6 billion and that the ETH fund, or ETHE, is now worth over $ 7 billion.
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