The Rothschild Investment Corporation of Chicago bought 265,302 shares of the Grayscale Ethereum Trust. The company had already bought shares of the Grayscale Bitcoin Trust in the past, and with this purchase, it is also entering the Ethereum cryptocurrency market.
Given that each share of the Grayscale Ethereum Trust corresponds to approximately 0.01 Ethereum, as reported by Cryptonomist.ch, the investment of Rothschild Investment Corporation is worth approximately 6.36 million dollars, while the company revealed that March was worth 4.75 million. Therefore in just over two weeks, they have actually gained 34%.
Instead, given that each share of the Grayscale Bitcoin Trust corresponds to 0.00094467 Bitcoin, the value of their investment in this fund is about 2.2 million dollars, while as of March 31st the company declared a value of 1.9 million. Therefore, the gain was 16 percent.
Rothschild’s Ethereum investment
It is curious how the investment in Ethereum turns out to be more than double compared to that in Bitcoin, but it is possible that the company believes that the growth prospects of ETH from now on are higher than those of Bitcoin, as has happened. already in 2020 and early 2021.
Rothschild Investment Corporation is among the first institutional asset managers to seek Ethereum exposure through the Grayscale trust, and as in the past for BTC, others may now follow in their footsteps.
To date, the AUM of the Grayscale Bitcoin Trust (GBTC) is around 41 billion dollars, while that of the Ethereum trust (ETHE) does not exceed eight billion. Given that Bitcoin has a market capitalization of around 1.147 billion, while Ethereum stops at 278, the GBTC is worth around 3.5% of the entire capitalization of Bitcoin, while ETHE does not exceed 3 percent.