The unlocking of the Grayscale Bitcoin Trust (GBTC) has drawn important attention in the world of crypto during the previous week regarding how it could influence the price of Bitcoin.
Still, this hasn’t stopped institutional players from having an interest in Grayscale crypto products.
According to an SEC filing from yesterday, Rothschild Investment acquired more than 100K shares of the GBTC in Q2 2021. As of June 30th, 2021, Rothschild held 141,405 shares of BGTC, compared to just 38,346 shares in March of the same year.
It is important to point out the fact that the buying took place as Bitcoin experienced a correction in its price of over 50%.
Bitcoin may find itself under pressure nowadays, but this hasn’t stopped institutional investors from buying. Bitcoin whales have purchased large amounts of Bitcoin at a lower price, adding to their already fat wallet.
Rothschild also acquired about 15,000 shares of the Grayscale Ethereum Trust (ETHE).