The Grayscale Ethereum Trust is purchased by Rothschild Investment for $4.75 million

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Grayscale’s Bitcoin and Ethereum Trust has added more shares to the Chicago-based asset manager’s crypto portfolio.

The Grayscale Ethereum Trust has sold 265,302 shares to asset manager Rothschild Investment Corp for $4.75 million.

According to an SEC filing dated April 15, the firm also purchased 8,000 more shares of the Grayscale Bitcoin Trust (GBTC), bringing its total holdings to 38,346.

Not the Rothschilds, as you might believe.

Despite the fact that Rothschild Investment Corp has little to do with the Rothschild family, many members of the group remain perplexed.

Monroe Rothschild and his brother-in-law Samuel Karger, both founding members, have confirmed that the company has no links to the wealthy Frankfurt dynasty. The contradictions between the two divisions were explained in a 1995 article published in the New York Times.

The Chicago-based Rothschild Investment Corp was established in 1908. The company has a portfolio of over $1.2 billion and over 450 open positions in the industry. Unlike the well-known bankers, the company has been amassing stock since 2017, long before conventional financial institutions began to invest in crypto assets.

Grayscale eventually reached the $50 billion mark

The latest acquisition comes after Grayscale reached the long-awaited $50 billion mark. Grayscale now manages over $50 billion in total assets, as previously announced (AUM). The GBTC alone has a market cap of $41,442 million, while the Ethereum Trust has a market cap of $7,420 million.

Ethereum also reached a new all-time high of $2500, following a five-month parabolic rise. It soared 13.7 percent last week, smashing through the $2,2007 resistance level. The Berlin hard fork went live a few days ago in an effort to reduce the network’s high fees, but several users have reported network node syncing problems.

The crypto market had been trending upwards in recent weeks, but it reversed course this weekend, creating havoc across the board and liquidating over $10 billion in long and short positions in less than a day.

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