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Giant Investment Institution Gets Bitcoin Exposure via Grayscale’s GBTC Shares

The Rothschild Investment Corporation is a subsidiary of Rothschild & Co., founded in 1945. The investment giant has decided to expand its Bitcoin and Ethereum exposure recently with Grayscale. New filing records suggest that Rothschild Investment Corp. has bought a new installment of 141,405 GBTC shares.

This purchase multiplies the crypto exposure of Rothschild by four times since April. The official filing documents at SEC reveal that Rothschild’s crypto exposure has been amended by 300% in the current week. It should be noted that Rothschild Investment is a billion-dollar firm that is considered a market leader and a substantial player among institutional investors.

Rothschild Investment Corp Continues to Buy Crypto Assets Ignoring the Recent Market Crash

The filing documents at SEC unveil that Rothschild purchase around 38, 346 GBTC shares last year. From the perspective of Bitcoin, every GBTC share contain a value equal to 0.000939 BTC units. By this calculation, Rothschild possesses around 132.8 BTC that are valued at $3.94 million. The same investment institution has also invested in the Ethereum Grayscale Trust.

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Michael Sonnenshein, CEO of Grayscale, told the media that at the moment, the institutional investors are impervious to the short-term market corrections happening in Bitcoin. Talking to CNBC, he claimed that the target of institutional investors is to cash in on the medium and long-term allocations. He further added that the dampening volatility could not faze the investors.

Last Sunday, Grayscale opened up Bitcoin Trust shares from a six-month bond valued in 16K Bitcoin. According to many speculators, the unlocking was connected with setting off a major correction for the flagship cryptocurrency.  However, to date, a majority of the shareholders have chosen to retain their positions. Meanwhile, Grayscale management has also liquidated a negligible portion of GBTC to settle the fund management costs. It should be noted that GBTC cannot be redeemed for fiat currencies and, therefore, cannot have an impact on the price values of mainstream cryptocurrencies. On the other hand, Ark Investment announced on Monday that it had purchased 310,000 GBTC shares.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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