Rothschild Investment Corporation has reportedly purchased over $4.75 million worth of shares of the Grayscale Ethereum Trust. Rothschild Investment Corporation has been actively buying crypto-related shares in the past few months.
The company’s recent purchase of 265,302 shares of ETHE marks its first ever Ethereum investment. Prior to this time, Rothschild’s Investment Corporation had reportedly owned 30,452 Grayscale Bitcoin shares (GBTC) as of January, 2021.
Additionally, its recent position which resulted in an addition of about 8000 shares in crypto has boosted Rothschild position to 38,346 shares of the Grayscale Bitcoin Trust (GBTC).
Rothschild Investment has held back from utilizing unregulated crypto exchanges for its crypto investment. The Grayscale Trust attracts huge institutional investors due to its higher level of security and trust these investors have in the trust.
Most institutional investors that turn to cryptocurrencies as a store of value frequently focus on bitcoin investments. Their focus on Bitcoin is obviously due to the fact that it proved to be the best investment of the decade in the past ten years. Ethereum on the other hand has also performed really well in the past few years and has also proved to be a reliable store of value.
Coinshares report indicates that the level of ETH-related investment products skyrocketed in Q1 of 2021 pushing ETH-related investments to an ATH of $4.2 billion inflows. Rothschild’s new focus on Ethereum could attract other big names in the coming months and this could lead to a noticeable increase in the price of Ethereum.