Which institutions bought Ethereum through Grayscale?

Entering 2021, the price of Ethereum has risen by 385% in 4 months, and the exchange rate against Bitcoin has also risen to 0.61. For this reason, there are many voices in the market interpreting the rise of Ethereum.

For traditional investment institutions, Grayscale is still one of the important entry points for purchasing Ethereum. As of press time, Grayscale Ethereum Trust holds 3.1657 million ETH, worth $11 billion.

BlockBeats found that many institutional investors bought ETHE (Grayscale Ethereum Trust) in the first quarter of 2021. And among them, many institutions had previously included GBTC in their investment portfolios.

Rothschild Investment

Rothschild Investment is a full-service brokerage firm founded in 1908 that currently holds $1.2 billion in secondary market positions. Currently, Rothschild Investment purchased 265,300 shares of ETHE in the first quarter of 2021, which is currently worth approximately $9.15 million.

Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust is a large advisory firm that currently holds approximately $3.047 billion in secondary market positions. Currently, Emerald Mutual Fund Advisers Trust holds 114,100 shares of ETHE, currently valued at $3.93 million.

Formidable Asset Management

Formidable Asset Management is a hedge fund with a secondary market position of $467 million. It purchased 38,100 shares of ETHE in the first quarter of 2021, which is currently worth about $1.31 million.

Hellman Jordan Management

Hellman Jordan Management is a professional stock investment management company founded in 1978. Currently, Hellman Jordan Management holds $70 million in stocks. It sold 42,900 shares of ETHE in the first quarter of 2021 and currently holds 20,400 shares of ETHE, worth approximately $700,000.

Edge Wealth Management

Edge Wealth Management is a large New York-based consulting firm with approximately $700 million in assets under management and currently holds approximately $495 million in secondary market positions. In the first quarter of 2021, Edge Wealth Management bought 17,300 shares of ETHE, worth approximately $600,000.

Next Capital Management

Next Capital Management is an independent consulting firm that provides institutional-level asset management and strategic wealth planning services to high-net-worth clients. Currently, Next Capital Management holds a $154 million secondary market position. It purchased 11,500 shares of ETHE in the first quarter of 2021, which is currently worth approximately $400,000.

Tradition Wealth Management

Tradition Wealth Management is a management institution with nearly $700 million in assets under management and currently holds $568 million in secondary market positions. It bought 7,381 shares of ETHE in the fourth quarter of 2020, currently worth $255,000. ETHE holdings contributed approximately $144,000 in unrealized profits to Tradition Wealth Management in 2021.

Independent Financial Partners Advisors

Independent Financial Partners Advisors is a large consulting firm that manages $3 billion in assets. It bought 6,911 shares of ETHE in the first quarter of 2021, which is currently worth about $238,000.