The unlocking of GBTC caused a lot of buzz in the crypto space last week about how it will affect Bitcoin (BTC) price. However, gamers are still interested in Grayscale crypto products. And Rothschild Investment bought over 100,000 shares in the Grayscale Bitcoin Trust (GBTC).
According to a filing with the SEC on Monday, July 19, Chicago-based institutional firm Rothschild Investment reportedly bought over 100,000 shares of Grayscale Bitcoin Trust (GBTC) in the most recent quarter, that is, Q2 of 2021. of GBTC as of June 30, 2021, while its holdings at the end of March 2021 were only 38,346 shares.
Interestingly, that purchase took place in the quarter when Bitcoin price corrected more than 50%. At press time, Bitcoin (BTC) is down 2.78% to stand at $ 30,623 with a market cap of $ 579 billion.
Although BTC is constantly trading under pressure, institutional players continue to buy. As CoinGape reported, even at current prices, bitcoin whales have made further profits by squeezing more bitcoins into their wallets.
SEC filings also show that Rothschild bought approximately 15,000 shares in the Grayscale Ethereum Trust (ETHE).
Bitcoin (BTC) has been trading under constant pressure lately. Today BTC price is dangerously close to the $ 30,000 mark, a drop that could trigger another major correction. Veteran investor David Tice, best known for managing the Prudent Bear Fund, says these are “very dangerous times” for investors. Speaking to CNBC’s Trading Nation, Tice said:
“Lately there has been a lot of turmoil from central bankers, the Bank for International Settlements” [và] The Bank of England has made deeply negative statements. I think it would be dangerous to keep today. “
Bitcoin remains volatile in the $ 30,000 to $ 35,000 range. Hence, investors should weigh their risks before diving in.
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