Rothschild Investment Corporation, an institutional grade investment manager has increased its stake in Grayscale’s GBTC.
The Chicago based financial institution has increased its investment in Grayscale’s Bitcoin Trust or GBTC, based off a Monday morning filing with the United States Securities and Exchange Commission (SEC).
See Also: Nasdaq-listed institutional investor buys $150 million worth of Bitcoin
In the filing, Rothschild stated that it presently owns 30,454 shares of GBTC as at December 31st, 2020. In a previous filing in October the firm reportedly owned 24,500 shares of GBTC.
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
Rothschild Investment Corporation was founded in 1908 with the name Rothschild & Company according to its corporate website. The firm started as a full-service brokerage. Although, Bloomberg states that it’s not part of the Rothschild family dynasty.
The institutional grade investment manager is one of many big institutional investors to diversify into the cryptocurrency market in the past year.
The Grayscale Bitcoin Trust or GBTC currently has over $20 billion in assets under management (AUM). GBTC has become very popular even among institutions.
01/22/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $24.2 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/YHQJL8Ftru
— Grayscale (@Grayscale) January 22, 2021