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.