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June 28, 2022
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Guide & Analysis

Rothschild Investment Corp acquires 265,302 shares of Grayscale ETH Trust

Rothschild Investment Corp acquired 265,302 shares in Ethereum’s Grayscale Trust (ETH) and completed its Bitcoin trust with 8,000 shares. The investment company’s most recent acquisition was revealed in a filing with the U.S. Securities and Exchange Commission (SEC) on April 15.

Rothschild Investment and Grayscale ETH Trust

With Bitcoin fund shares in Grayscale added, Rothschild Investment increased its stake in Bitcoin from 30,454 to 38,346. In December 2020, the investment magazine reported that it has 30,454 shares in a Form 13F filed with the SEC. Before that, the company held 24,500 shares in October.

The fund manager said his total shares in the ETH fund were worth $ 4.75 million on March 31. Rothschild added that his BTC fund was worth $ 1.92 million.

The new move indicates that the investment firm is evidently not relaxing with its investment. The founder of crypto investment firm Mythos Capital and Bankless, Ryan Adams, commented in a tweet about the latest acquisition of Rothschild Investment Corporation. Adams said that “Bitcoin is the gateway to ETH. ”

Grayscale is a leading digital asset manager in the United States, with a large customer base. The company controls about 660 BTC, representing 3.5% of all Bitcoin in circulation. Currently, the total circulating supply of Bitcoin is around 18.6 million. For the first time in history, Grayscale exceeded $ 50 billion in cryptocurrency assets under management (AUM) on April 14. Grayscale CEO Michael Sonnenshein noted his belief that the Bitcoin fund in Grayscale is on track to outperform the GLD fund in market capitalization in the coming months.

He said:

We believe that gold symbolizes the diminishing potential for sustained advances in commodity prices, especially in relation to Bitcoin. Grayscale’s GBTC assets, the dominant vehicle on the exchange, are set to pass on funds to the leading gold-ETF GLD tracker in a few months.

Grayscale Trust

Rothschild has been buying shares in the Grayscale BTC fund since 2017. At the time, an SEC filing revealed that Rothschild Investment held $ 210,000 in GBTC. During the period, Bitcoin was traded at around $ 2,000. Now, Bitcoin has risen in value, reaching new highs in recent months. Since the beginning of the year, Bitcoin has more than doubled to $ 63,000.

Grayscale offers crypto exposure services to institutional investors. In addition to Bitcoin, the company handles altcoins such as Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Litecoin (LTC). According to Grayscale’s Twitter post, the assets under management of each trust are ETH (more than $ 7.7 million), BCH ($ 242 million), ETC ($ 304.7 million) ETC, LTC ($ 415 millions).

AGrayscale recently added more trusts. The new five funds are from Decentraland MANA, Livepeer (LPT), Filecoin (FIL), Basic Attention Token (BAT), and Chainlink’s LINK.

Source: CoinSpeaker

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