Altshuler Shaham, Israel’s largest asset management and insurance firm, has invested $ 100 million in the Grayscale Bitcoin Trust (GBTC). The investment was made at a BTC price of $ 21,000.
According to a local media publication, one of Israel’s largest investment companies, which manages over $ 50 billion in assets, has invested $ 100 million in a Grayscale bitcoin trust. The firm invested in GBTC in the second half of last year, when Bitcoin was trading at around $ 21,000.
The Grayscale Bitcoin Trust was founded in 2013 and is the largest Bitcoin trust in the world, offering investors access to the first cryptocurrency. Grayscale currently manages $ 42.1 billion in net assets across all of its cryptocurrency trusts and funds.
In addition to buying Grayscale shares, Altushler showed interest in some ICOs in Israel back in 2017, according to a source familiar with the situation:
“Altushler has an alternative assets department that owns ETH and BTC wallets. He was active in the past and is now studying the industry again. ”
Apparently, Grayscale will soon be able to offer more cryptocurrency products. The company has recently published nine vacancies for the development of the ETF direction. This indicates the firm’s intention to launch exchange-traded funds for cryptocurrencies.
Earlier it became known that Grayscale has suspended accepting investments in the Grayscale Bitcoin Trust and Digital Large Cap Fund (GDLC) funds. Most likely, this is due to the fall in the share price of funds below the price of the assets they contain.
Telegram channel!
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
