Rothschild Investment Corporation Reveals it Holds 30,454 shares of GBTC

Rothschild Investment Corporation, founded in 1908 in a filing with the SEC revealed that the company has increased its holdings of GBTC to 30,454 shares. The increase is of nearly 6,000 shares from its previous filing of the SEC.

In its filing with the SEC, the investment group revealed that it has a total portfolio of $ 919,014,000 while the real value of assets under management was not revealed.

The investment cooperation’s revelation about their GBTC holdings highlights the growing interest of the institutions in the top cryptocurrency and how the likes of leading institutions such as MicroStrategy and Paypal and more publically traded companies are looking to gain exposure in the top cryptocurrency.

Institutional Interest For Bitcoin Continue to Peak

Bitcoin finally managed to break off from the 4-day price zone of below $33,000 to record a new daily of $34,667. The halt in Bitcoin’s soaring bull run over the past two weeks had made many call the ATH of $42,000 the short-term top for the digital asset. However, institutions seem to be bullish on bitcoin as the likes of MicroStrategy and Marathon Patent Group bought the bitcoin dip.

The surging institutional interest post bitcoin halving in May is being seen as a key driving metrics behind Bitcoin’s mammoth bulk rally starting toward the end of October 2020, which helped bitcoin to more than double its 2017 ATH of  $20,000.

Another factor to note here is that these institutions are not buying bitcoin just because of its surging price, but more as long time investment and the likes of MicroStrategy and Marathon Group have done so by converting a portion of their treasury cash into Bitcoin and have hinted that they may continue to do the same in future as well.

The top cryptocurrency is currently looking to regain its position above $36,000 as on-chain metrics are still signaling bullish sentiment to be prevalent in the market.

The post Rothschild Investment Corporation Reveals it Holds 30,454 shares of GBTC appeared first on Coingape.

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