Rothschild Investment Corporation, a leading Chicago-based financial establishment founded in 1908, has invested heavily in Grayscale'due south Bitcoin Trust, according to a Monday morning filing with the United States Securities and Exchange Committee, or SEC.

Rothschild reported owning 30,454 shares of GBTC as of Dec. 31, 2020, co-ordinate to Form 13F-HR, also known equally the institutional manager holdings report. In its October filing, the firm reportedly owned 24,500 shares.

According to its corporate website, Rothschild Investment Corp was founded in 1908 as Rothschild & Company. Its founders, Monroe Rothschild and brother-in-law Samuel Karger, started the house equally a full-service brokerage. However, it'south not part of the Rothschild family dynasty, co-ordinate to Bloomberg.

GBTC represents publicly quoted shares of Grayscale'southward increasingly popular Bitcoin Trust, which now has over $20 billion in assets nether management. GBTC generated $217.i million in average weekly inflows during the fourth quarter, a new record high.

GBTC currently trades at less than $34.00 per share.

Rothschild increased its exposure to Bitcoin (BTC) during a pivotal time in the cryptocurrency'south bull market place. Bitcoin's price most tripled in the quaternary quarter before peaking nigh $42,000 in early on January. Although price action has cooled off somewhat, BTC cost is currently hovering around $34,000.

The investment manager is ane of several big-proper name institutional players to enter the cryptocurrency market in the past year. This trend is expected to proceed as central banks and governments expand their monetary base to support the post-pandemic recovery. In this vein, Bitcoin is increasingly viewed equally a monetary hedge against aggrandizement.

Digital assets will be top of listen at this week's Davos Agenda. The height, which is hosted by the World Economic Forum, features two sessions focused on "resetting digital currencies." Although the discussions are likely to center around central banking company digital currencies, or CBDCs, they magnify Bitcoin's confusing touch on on traditional finance.