13:01
Rothschild Investment Corporation Increases Its Bitcoin (GBTC) Holdings to $1 Million

The Chicago-based company has increased its position to GBTC by about 24% from October to late December, according to a recent filing with the US Securities and Exchange Commission. The financial institution now owns 30,454 GBTC shares.

Founded in 1908 in Chicago, Rothschild Investment Corporation is a registered financial brokerage, dealer, and a member of SIPC and FINRA. However, it’s worth noting that the company broke out from the Rothschild family dynasty more than four decades ago, after a fallout. 
The company started getting exposure to bitcoin through Grayscale’s BTC Trust in mid-2017 with a relatively modest purchase of 539 GBTC shares.
However, the firm continued allocating funds frequently, and its total stack had grown to 24,500 shares in October 2020. 
Rothschild filed an SEC document, which revealed that the company had increased its stake by about 24% by the end of 2020, as BTC’s price was appreciating to new highs.
The file shows that the amount has grown to 30,454 GBTC shares. From a USD perspective, this means a $1 million exposure, as the price of one GBTC share is currently $33. 
Grayscale is a digital asset manager that allows large corporations and institutions to receive exposure to BTC, and other cryptocurrencies, through its Trusts. The Bitcoin Trust is an SEC-reporting product, and investors don’t mind paying a premium to avoid worrying about storing and managing their assets.
The firm marked its best year to date in 2020 as its AUM exploded by ten-fold from $2 billion at the start to over $20 billion in December. 

Sourse: cryptopotato.com

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Category: News | Views: 119 | Added by: danyagames2007 | Tags: #Bitcoin #Bitcoi Price #BTC | Rating: 0.0/0
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