Rothschild Investment buys 265,000 Grayscale ETH trust shares

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Rothschild Investment Corp has recently revealed its purchase of 265,302 Grayscale ETH trust shares while also adding up to its Grayscale Bitcoin (BTC) Trust holdings.

The move was made public when the Chicago-based corporation worked on a filing with the United States Securities and Exchange Commission.

The move revealed that the company now owns 38,346 GBTC shares, way higher than the 30,454 it owned last January, while its Ethereum (ETH) holdings represent a new position.

Rothschild Rides the Tide

Market observers have been speculating that there will be lots of institutional investments into the cryptocurrency ecosystem, and these will be made possible through trusts such as Grayscale.

The speculations turned out to be logical because this period is in line with the big push seen in the prices of Bitcoin (BTC), Ethereum (ETH), and the entire digital currencies as a whole.

Because cryptocurrency can still be considered in its infancy, the influx of institutional funds by groups like Rothschild and other established and known crypto-backers is seen to aid in fast-tracking the long-waited transfer into the mainstream adoption era.

About Rothschild Investment Corp

Monroe Rothschild and his brother-in-law Samuel Karger established Rothschild Investment Corp in 1908. As a point of clarification, the company has no ties with the notorious Rothschild family dynasty.

The corporation was one of the earliest mainstream investment outfits to try its hand on cryptocurrencies. At the time when Bitcoin was priced somewhere around $2,000 per coin, Rothschild Investment Corp. owned as much as $210,000 worth of GBTC. That was around 2017, according to records from the SEC.

With the recent acquisition of significant ETH Trust Shares from Grayscale, the company has once again made a huge investment, showing its faith in what others consider as merely accessory for crimes like money laundering.

Image courtesy of Cointelegraph News/YouTube

Jet Encila

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Jet Encila

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