It has no longer remained a surprise when we get to hear that a major mainstream institution has adopted or invested in cryptocurrencies. Almost every week or month, we get to hear that a major mainstream platform has invested in cryptocurrencies.
The global investment community including the cryptocurrency investment community has grown used to such announcements. However, there was one particular announcement that took the entire investment community in the entire world by a huge surprise.
It was in the mid of April when the US Securities and Exchange Commission had shared the filing submitted by one of the major investment firms. The name of the particular investment firm was Rothschild Investment Corporation.
The entire investment community was taken by a huge surprise when it was revealed that the Rothschild Investment Corporation had also invested in Bitcoin (BTC). This information was shared by the Securities and Exchange Commission when the investment firm submitted its reports for the fourth quarter of 2020.
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The latest report shared by the Securities and Exchange Commission shows that since April, Rothschild Investment Corporation has increased its Bitcoin holdings by four times.
The firm has revealed that the filing was submitted by the Rothschild Investment Corporation on Saturday, July 17, 2021. In the filing, Rothschild Investment Corporation has revealed that it currently has 141,405 Grayscale Bitcoin Trust’s (GBTC) shares in its portfolio.
Rothschild Investment Corporation is currently considered to be one of the most substantial players among all major institutions. The data revealed by the US SEC shows that since its initial investment, the particular firm has also made an investment in the Grayscale Ether Trust.
With the recent investment, Rothschild has now invested in two different cryptocurrencies through Grayscale. On the other hand, the investment giant has also increased its exposure to Bitcoin in the running year. The file submitted by the firm back in April of 2021 showed that the firm had acquired 38,346 shares in the GBTC.
At Grayscale, each GBTC unit equates to 0.000939767 BTC, which means that so far, Rothschild currently has 132.8 BTC in its portfolio. At the time of writing, the 132.8 BTC figures translate to $3.94 billion.
This shows that even the current downtrend of the cryptocurrency market in terms of prices and valuation has not pushed away major institutions.
Even though the price of Bitcoin is bearish for the last three months, investors are still going on with their investments in Bitcoin. Now that the mainstream institutions have spent enough time in the cryptocurrency markets, they know exactly how its trend works. Therefore, they have started taking the risk and are considering the current market situation one of the best opportunities.