Rothschild Investment buys a £3.46M stake in Grayscale’s ETH Trust

Written by: Jinia Shawdagor
April 16, 2021
  • The Chicago-based company also bought an additional 7,892 shares in the Grayscale BTC Trust.
  • As of March 31, Rothschild Investment’s crypto investment was worth £4.86 million.
  • Following an increase in institutional interest in crypto, ETH set a new ATH at £1,852.71 today.

Rothschild Investment Corporation has ventured into an Ethereum (ETH) investment vehicle. A report unveiled this news on April 16, noting that the organisation recently purchased 265,302 shares of the Grayscale Ethereum Trust. Reportedly, this purchase was Rothschild Investment Corporation’s first-ever investment in an ETH vehicle, and as of March 31, its stake in the trust was worth £3.46 million.

The Chicago-based company also bolstered its position in the Grayscale Bitcoin Trust by purchasing an additional 7,892 shares. At the moment, the firm owns 38,346 shares, which were worth £1.4 million as of March 31.

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Reportedly, Rothschild Investment Corporation first took interest in invested in crypto investment vehicles in 2017. At the time, the company bought shares of the Grayscale BTC Trust. However, it soon liquidated its investment before re-entering the position two years later. Since then, the company has had a keen interest in the crypto sector, which has led to its investment in the Grayscale Ethereum Trust.

Per regulatory filings, Rothschild Investment Corporation is one of a few companies, which have invested in the Grayscale Ethereum Trust.

ETH sets record highs as institutions dabble in crypto

Ethereum, the second-largest cryptocurrency by market capitalization, continues putting up a stellar price performance. Following significant gains over the past seven days, ETH’s options market experienced massive growth that saw the total number of long and short positions in call and put options rise as high a £2.4 billion on April 14.

These gains also saw the coin set a new all-time high at £1,852.71 earlier today. At the time of writing, 8:20 AM UTC, ETH has had a slight downward correction to change hands at £1,785.22. This figure denotes a 3.86% drop from its ATH and a 0.77% plunge over the past 24 hours. However, ETH is currently outperforming BTC, seeing as it up 1.52% against the leading cryptocurrency.

Prior to setting a new ATH, the Ethereum network underwent the long-awaited Berlin hard fork. This upgrade incorporated four Ethereum Improvement Proposals (EIPs), preparing the network for the larger London hard fork in July.