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Rothschild Investment Buys $4.75M Initial Stake in Grayscale Ethereum Trust
The asset manager disclosed Thursday its shares in the Ethereum trust were worth $4.75 million as of March 31.
Chicago-based Rothschild Investment Corporation recently bought 265,302 shares of the Grayscale Ethereum Trust, its first investment in the vehicle.
STORY CONTINUES BELOW
- The institutional investment manager also increased its position in Grayscale Bitcoin Trust by just under 8,000 shares to 38,346 shares, up from the 30,454 shares it reported holding at the end of 2020.
- The manager disclosed Thursday its shares in the ETH trust were worth $4.75 million on March 31 and its holdings in the BTC trust were worth $1.92 million.
- Rothschild is among the first name-brand institutional asset managers to seek ETH exposure through Grayscale’s trust product, according to regulatory filings.
- Grayscale is owned by CoinDesk parent company Digital Currency Group.
- Ether, the native cryptocurrency of the Ethereum blockchain, hit an all-time high north of $2,500 on Thursday.
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
