Investment firm Rothschild Investment Corp almost tripled its Bitcoin (BTC) investment in the second quarter of this year, according to the SEC.
The Rothschilds are not afraid of the fall in the BTC rate
At the end of the 2nd quarter, the investment company Rothschild Investment Corp increased its investments in bitcoin (BTC) by almost 300%. This is evidenced by data submitted by the company to the US Securities and Exchange Commission (SEC). According to the latest reports, the company now owns 141,405 shares of the Grayscale Bitcoin Trust (GBTC). This reflects a threefold increase from 38,346 in the 1st quarter.
It seems that Rothschild Investment Corp is not at all intimidated by the drop in cryptocurrencies over the past few months, and in particular the sharp decline in the value of bitcoin (BTC) after it peaked this spring.
In addition, Rothschild has also increased its participation in the native coin. blockchain Ethereum (ETH) via Grayscale Ethereum Trust. However, here the growth is much more modest. The volume of the company’s investments in ETH increased by only 5% – from 265,302 to 279,119 ETH.
Now the total amount of the company’s funds placed in both trusts is about $ 10.5 million, of which BTC is the undisputed leader with an indicator of about $ 6.3 million.
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What keeps investors in the game
Despite the recent drop in the crypto market, Grayscale CEO Michael Sonnerstein believes that institutional investors do not pay much attention to short-term volatility, preferring instead to play the game in the long term.
In an interview with CNBC, he stated:
“Such investors do place funds with a medium and long term focus, so the issues of short-term volatility have ceased to worry anyone.”
Let us also remind that recently another Grayscale fund received the status of a trust regulated by the SEC. The company expects that such funds, accountable to the regulator, should become more attractive to investors. In addition, such a status could speed up the launch of a cryptocurrency exchange fund (ETF) for Grayscale.
Meanwhile, Rothschild Investment continues to actively invest in BTC and ETH, despite the decline in cryptocurrency rates. So, in the 1st quarter, the investment company bought up shares of the Grayscale Ethereum Trust (ETHE) in the amount of $ 4.75 million. This was the first manifestation of the Rothschilds’ interest in ETH – earlier the company was focused exclusively on BTC.
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