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Rothschild Investment Corp. has purchased over 250,000 shares of Grayscale’s ETH trust and attached 8000 shares to its BTC trust portfolio — but the company has no ties to the famous Rothschild family dynasty.
According to a filing with the United States Securities and Exchange Commission (SEC) on April 15, Chicago-based financial firm Rothschild Investment Corp has purchased 265,302 shares of Grayscale’s ETH trust.
The company also expanded its portfolio of Grayscale Bitcoin trust shares, raising its total from 30,454 in January to 38,346 this month, according to the most recent SEC filing.
Rothschild Investment has been amassing GBTC since 2017, and the new filing demonstrates that the firm’s demand for crypto exposure is not waning. Ryan Adams, the founder of cryptocurrency investment company Mythos Capital and Bankless, posted on the new development, saying that “BTC is the gateway drug to ETH.”
BTC is the gateway drug to ETH https://t.co/1w7p66OkOF
— RYAN SΞAN ADAMS – rsa.eth 🏴 (@RyanSAdams) April 15, 2021
The brokerage firm’s roots dates back to 1908, and it has been trading in cryptocurrency for a comparatively long time compared to the massive inflow of institutions that has swooped in over the last year. According to an SEC filing, the company held $210,000 in GBTC in July 2017, when the price of BTC was about $2000.
Despite the fact that the New York Times published an article in 1995 that explained the situation, founding members Monroe Rothschild and brother-in-law Samuel Karger allegedly have no ties to the renowned Rothschild family dynasty, much to the consternation of the crypto group.
Grayscale is the largest U.S. digital asset manager that has institutional exposure to cryptocurrency; the company currently owns about 660,000 BTC, accounting for 3.5 percent of BTC in circulation.
The company announced yesterday that its gross funds under administration have now reached $50.6 billion, and its ETH trust, or ETHE, has more than $7 billion in AUM, with its stock now traded at about $24. GTBC’s AUM has reached $41 billion, and its shares are now trading at about $59.