Asset management firm Rothschild Investment Corporation reveals in a filing that it bought tens of thousands of shares of Grayscale’s products in the last quarter.
Data from the US Securities and Exchange Commission (SEC) shows that Rothschild significantly increased the number of shares it held in the digital asset manager’s Bitcoin and Ethereum trusts in a span of three months.
During the quarter that ended on March 31st, the number of shares that Rothschild held in the Grayscale Bitcoin Trust (GBTC) stood at 38,346. The figure rose to 141,405 shares by June 30th, marking a 269% increase.
The number of shares that Rothschild held in the Grayscale Ethereum Trust (ETHE), on the other hand, rose from 265,302 by the end of the first quarter to 279,119 during the second quarter, a 5% increase.
The value of Rothschild’s GBTC shares jumped from $1.92 million on March 31st to $4.21 million as of June 30th while the value of the ETHE shares surged from $4.75 million to $6.24 million over the same period.
The total value of the shares that the asset manager holds in the two Grayscale funds as of June 30th is less than 1% of the total assets under management. Currently, the value of Rothschild Investment Corporation’s total assets under management (AUM) is approximately $1.70 billion.
Over the past few months, GBTC has lost around 52% of its value from $59 per share on April 15th to its current value of $28.08 while ETHE is down over 56% from $41.56 per share on May 10th to its current price of $17.93.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Patila
