Rothschild Investment expands crypto portfolio with $4.75M purchase of Grayscale’s Ethereum Trust
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Rothschild Investment expands crypto portfolio with $4.75M purchase of Grayscale’s Ethereum Trust

Saudu Clement
Saudu Clement

Chicago-based asset manager Rothschild Investment Corp has thrown more funds into Grayscale’s Bitcoin and Ethereum Trust.

According to a recent filing with the U.S. Securities and Exchange Commission, the firm purchased 265,302 shares from the Grayscale Ethereum Trust at around $4.75 million. Rothschild also topped up on its Bitcoin holdings by adding an extra 8,000 shares from the Grayscale Bitcoin Trust.

It is worth clarifying that the investment company is not affiliated with the Rothschild family. Rothschild Investment Corp was founded in 1908 and is headquartered in Chicago. The firm has over $1.2 billion in assets under management and began buying shares in 2017, long before the likes of MicroStrategy popularized crypto investments from traditional institutions.

That being said, Grayscale has finally hit the $50 billion mark on April 16. Following the crypto market crash on Sunday, this value has since dropped to $44.9 billion. Out of this value, the Ethereum Trust holds over $7.2 billion, making it the second-largest holding by the company.

As reported by BTC PEERS, confidence in cryptocurrencies has remained unshaken despite the market crash on Sunday. Ethereum whales have continued to accumulate the digital asset.