Riding The Bitcoin Wave: PIFI ETF Changes Ticker To BTC
The move may be part of a grander plan by Grayscale to convert GBTC into a bitcoin ETF.
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Apr 16, 2021
The move may be part of a grander plan by Grayscale to convert GBTC into a bitcoin ETF.
Some companies will do anything to jump on the latest crypto craze. A few years ago, it was the blockchain craze. Companies, such as Riot Blockchain, changed their name just to jump on the trend. Yes, some pivoted their business plans, but nothing generated more immediate returns than the word blockchain itself.
Why I bought bitcoin
Bitcoinâs growing credibility as a store of value among institutional investors and wider usage as a medium of exchange prompted this self-managed super fund to dive in.
Apr 17, 2021 â 12.00am
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The Chook super fund invested in bitcoin in October last year following the decision by global online payments company PayPal to facilitate the use of the cryptocurrency by its 26 million merchants.
The PayPal decision was a seminal moment in bitcoinâs history because it showed regulatory and commercial acceptance of its use as a medium of exchange for the buying and selling of goods.
As of March 31, Rothschild Investment’s crypto investment was worth £4.86 million.
Following an increase in institutional interest in crypto, ETH set a new ATH at £1,852.71 today.
Rothschild Investment Corporation has ventured into an Ethereum (ETH) investment vehicle. A report unveiled this news on April 16, noting that the organisation recently purchased 265,302 shares of the Grayscale Ethereum Trust. Reportedly, this purchase was Rothschild Investment Corporation’s first-ever investment in an ETH vehicle, and as of March 31, its stake in the trust was worth £3.46 million.
The Chicago-based company also bolstered its position in the Grayscale Bitcoin Trust by purchasing an additional 7,892 shares. At the moment, the firm owns 38,346 shares, which were worth £1.4 million as of March 31.
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Bitcoin-ETF frenzy heats up with grayscale deal moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.