Israeli Pension Giant Put $100M Into Grayscale Bitcoin Trust: Report

Israeli pension company Altshuler Shaham has sunk $100 million into the Grayscale Bitcoin Trust (GBTC), according to reports in the local press.

Altshuler Shaham is one of the largest investment houses in Israel, with over $50 billion in assets under management. The firm made the investment into GBTC in the second half of last year, when bitcoin was trading at around $21,000, according to the report.

The revelations come at a time when institutional investors are scrambling to get exposure to cryptocurrency, either directly or at arm’s length via funds like Grayscale’s.

The Grayscale Bitcoin Trust launched in 2013 is the world’s largest bitcoin fund, offering investors the opportunity to gain exposure to the leading cryptocurrency. Grayscale is owned by Digital Currency Group (also the parent of CoinDesk).

According to its latest figures, Grayscale currently has $42.1 billion in net assets under management across all its cryptocurrency trusts and funds.