By
Temitope Olatunji
April 18th, 2024
Rothschild has been acquiring shares in the Grayscale BTC trust since 2017.
Rothschild Investment Corp has purchased 265,302 shares in Grayscale ETH trust and topped up its Bitcoin trust with 8,000 shares. The investment firm’s latest acquisition was revealed in a filing with the US Securities and Exchange Commission (SEC) on the 15th of April.
Rothschild Investment and Grayscale ETH Trust
With the added Grayscale Bitcoin trust shares, Rothschild Investment has increased its Bitcoin holding from 30,454 to 38,346. As of December 2020, the investment frisk reported that it owns 30,454 shares in a Form 13F filing with the SEC. Before then, the company owned 24,500 shares as of October.
The fund manager said its total shares in the ETH trust were worth $4.75 million as of the 31st of March. Rothschild added that its BTC trust 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 on a tweet about Rothschild Investment Corporation’s latest acquisition. Adams said that “Bitcoin is the gateway drug to ETH.”
Grayscale is a leading digital asset manager in the US with a large customer base. The company controls about 660 BTC, which represents 3.5% of all Bitcoin in circulation. Currently, the total circulating supply of Bitcoin is about 18.6 million. For the first time in history, Grayscale exceeded $50 billion in crypto assets under management (AUM) on the 14th of April. Grayscale CEO Michael Sonnenshein noted his belief that Grayscale Bitcoin Fund is on track to surpass GLD fund by market cap in the coming months. He said:
“We believed gold symbolizes the diminished potential for sustained commodity-price advances, notably vs Bitcoin. Assets in Grayscale’s GBTC, the dominant on-exchange vehicle, are set to pass funds in the leading gold-ETF tracker GLD in a few months.”
Grayscale Trust
Rothschild has been acquiring shares in the Grayscale BTC trust since 2017. At the time, an SEC filing revealed that Rothschild Investment owned $210,000 worth of GBTC. During the period, Bitcoin was trading around $2,000. Now, Bitcoin has increased in value, reaching new highs in the last few months. Since the year started, Bitcoin has surged more than doubled and traded as high at $63,000. At the time of writing, Bitcoin is down 2.92% to $69,998.39.
Grayscale offers crypt exposure services to institutional investors. Apart from Bitcoin, the company deals with altcoins such as Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Litecoin (LTC). According to Grayscale’s Twitter post, assets under management for each trust are ETH (over $7.7 million), BCH ($242 million), ETC ($304.7 million) ETC, LTC ($415 million).
Grayscale recently added more trusts. The new five trusts are Decentraland’s MANA, Livepeer (LPT), Filecoin (FIL), Basic Attention Token (BAT), and Chainlink’s LINK.