Rothschild Investment Buys $4.75M Initial Stake in Grayscale Ethereum Trust

Chicago-based Rothschild Investment Corporation recently bought 265,302 shares of the Grayscale Ethereum Trust, its first investment in the vehicle.

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.