Rothschild Investment Increases Stake in Grayscale Bitcoin Trust (GBTC) by 24%
The Chicago-based Rothschild Investment Corporation has been aggressively diving into Grayscale's Bitcoin Trust, according to a filing with the United States Securities and Exchange Commission.
Established in 1908, but not related to the Rothschild family, the Rothschild Investment Corporation has since reported that it owns more than 30,454 shares of GBTC, and has only been increasing over that tail-end of 2020. This news is all according to eagle-eyed investors, who spotted the increase from October 2020; when the corporation owned 24,500 of them.
BTC institutional watch:
In a filing this morning with the SEC, Rothschild Investment Corporation, founded in 1908, reported owning 30,454 shares of GBTC.
In a previous filing in October, the firm owned 24,500 shares.
Link to filing:https://t.co/AC3rvwgnwr
— MacroScope (@MacroScope17) January 25, 2021
While not representing Bitcoin assets, Grayscale's trust encompasses $20 billion in assets, while providing trades at roughly $34 a share. Investors have been more than eager to dive in, with GBTC generating $217m in weekly in-flows over Q4 of 2020.
Rothschild Investment Corporation is just the latest in a line of large-scale investors that have made an aggressive foray into the cryptocurrency market, and they certainly won't be the last. As central banks worldwide continue to increase monetary supply to aid in pandemic recovery, companies will be looking at digital assets as a hedge. Over the course of the World Economic Forum this week, digital assets will be one of (if not the biggest) topics on the agenda.