Rothschild Investment Corporation Increases Its Stake in Bitcoin

News

Mon, 01/25/2021 - 17:48

Alex Dovbnya

Rothschild Investment Corporation has acquired more GBTC shares

Rothschild Investment Corporation Increases Its Stake in Bitcoin

Cover image via stock.adobe.com

Read U.TODAY on

Google News

According to its new SEC filing, financial services company Rothschild Investment Corporation now holds 30,454 shares of Grayscale Bitcoin Trust (GBTC) that allows institutional investors to get exposure to the world's largest cryptocurrency without directly owning it.

This represents a 24 percent increase from October when the crypto king was trading well below $20,000.

No ties to the famous banking family

Founded by Monroe Rothschild in 1908, Rothschild Investment Corporation has been around for several generations of entrepreneurs.

The Chicago-based investment management firm first disclosed its exposure to Bitcoin back in mid-2017. It started off with a relatively modest investment of 539 GBTC shares that were worth only $200,000.

Bank of England Governor Doesn't Think Cryptocurrencies Are Lasting

It should be noted that Rothschild Investment Corporation is not related to the famous family with the same surname.

#Bitcoin News #Cryptocurrency Adoption

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.