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[Blockchain Today Reporter Jihye Han] Rothschild Investments has acquired more than 250,000 shares of Grayscale’s ETH trust and has added 8,000 shares of BTC trust, Cointelegraph reported. This company is not affiliated with the famous Rothschild royal family.
According to data filed on April 15 to the Securities and Exchange Commission (SEC), Chicago-based financial institution Rothschild Investment Corp. has acquired 265,302 shares from Grayscale’s ETH trust.
The company has also added Grayscale Bitcoin Trust shares to its holdings, and its latest SEC report says its holdings have increased from 30,454 January to 38,346 this month.
Rothschild Investors have been accumulating GBTC since 2017, and according to the latest report, the company’s preference for cryptocurrency exposure continues. Ethereum advocate and cryptocurrency investment firm Mythos Capital and Bankless founder Ryan Adams commented on the recent move: “BTC is a gateway drug to ETH.”
The brokerage firm’s history dates back to 1908, and has been investing in cryptocurrencies for a relatively long time compared to the massive influx of institutions that have exploded over the past 12 months. According to a report filed with the SEC, the company owned $210,000 worth of GBTC at the time the BTC price was around $2,000 in July 2017.
Founding members, Monroe Rothchild and Maggie Samuel Karger are known to have nothing to do with the famous Rothschild family. Despite the fact that the New York Times reported an article explaining the situation in 1995, the association with the famous Rothschild family in the cryptocurrency world is still controversial.
Grayscale is America’s premier digital asset manager, providing cryptocurrency exposure to institutions and holding around 660,000 BTC, accounting for 3.5% of BTC.
The company said its current assets totaled $50.6 billion, the ETH Trust, or ETHE, now has an AUM of more than $7 billion, and shares are currently trading at around $24. GTBC has surpassed $41 billion at AUM and shares are trading at around $59.