Israeli Asset Manager Invests $100 Million in Bitcoin via GBTC

2021-3-12 19:08

Altshuler Shaham Investment House, an Israeli asset manager, invested $100 million in Bitcoin by purchasing the shares in the Grayscale Bitcoin Trust (GBTC) late last year, reported a local publication.

At the time, Bitcoin was trading around $21k; since then, the crypto asset has soared to a new ATH at $58,350.

Grayscale Investments is the world's largest asset manager with north of $40 billion in AUM.

One of the largest investment managers in Israel, Altshuler Shaham, already sold some of its stake in early February when BTC price was around $40k, as co-CEO Gilad Altshuler said his group was “a little intimidated” by the speed with which bitcoin gained in value.

The price of Bitcoin has appreciated more than 13.5x in value since its March low, becoming a trillion-dollar asset. Still, the fund was able to double its investment before selling about a third of it. He said,

“This is a new investment for us. It took a few months until we got all the relevant approvals and all the opinions that approved our investment in the field.”

This is the first time an Israeli institutional body gained Bitcoin exposure. Altshuler Shaham had over $50 billion in assets in long-term savings associates' accounts – provident funds and pension funds as of the end of January.

Currently, the company holds $150 million GBTC shares. As for increasing this investment, Altshuler said, “It depends on the price.”

Meanwhile, investment company Altshuler Shaham Horizon, a subsidiary of Altshuler Shaham, is looking to expand into the cryptocurrency market.

The post Israeli Asset Manager Invests 0 Million in Bitcoin via GBTC first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Dix Asset (DIX) на Currencies.ru

$ 1.0E-7 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $1.0E-7 - H: $1.0E-7
Капитализация $11.516k Rank 99999
Доступно / Всего 100b DIX

million gbtc israeli bitcoin via asset invests

million gbtc → Результатов: 19


Фото:

New Data Shows Grayscale Fund Quietly Buying Bitcoin – Now Controls 1% of Supply

Grayscale investors and a few Ethereum whales have reportedly been accumulating more Bitcoin and Ethereum as the price is at yearly lows. Grayscale Has 1%  of Bitcoin Circulating Supply While 2018 continues to be a challenging year for cryptocurrencies, some big-money players are taking advantage of lower prices to increase their virtual currency holdings.

2018-12-5 19:00