Texas-based investment manager U.S. Global Investors, which reported $iv.6 billion in avails under direction as of Q1 2022, has bought exposure to Bitcoin.

According to a Monday filing from the Us Securities and Exchange Commission, U.S. Global Investors added more than $566,389 worth of shares of Grayscale Bitcoin Trust, or GBTC, to iii of its 8 mutual funds as of June 30. The filings show the company invested $302,899 GBTC in its Gold and Precious Metals Fund, $222,532 in its Earth Precious Minerals Fund, and $40,958 in its Global Resources Fund.

The Bitcoin (BTC) exposure represents upwardly to 0.19% of the net avails in the funds, given the Golden and Precious Metals Fund lone has roughly $158 million in avails under management. However, it is a seemingly surprising investment from a firm that has pregnant exposure to gilt, minerals, precious metals, petroleum and other natural resources. U.S. Global Investors also classified GBTC as common equity.

"This is not a surprise nor does it indicate a shift in the way other gold equity managers view crypto or Bitcoin," said gilt issues Peter Schiff. Schiff further noted that the CEO of U.S. Global Investors, Frank Holmes, is besides the executive chair of crypto mining business firm Hive Blockchain.

A gold issues similar Schiff, Holmes had previously predicted that the prices of Bitcoin and Ether (ETH) could reach $80,000 and $iii,000, respectively, in 2022. Though Bitcoin's all-fourth dimension high cost stalled at $64,899 in Apr, the price of ETH went well higher up the CEO's prediction, reaching an all-fourth dimension high of $4,384 in May.

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For any reason — hedging bets on inflation, responding to investor interest — other major investment firms have purchased GBTC. Morgan Stanley's Insight Fund owns roughly 928,000 shares of Grayscale's Bitcoin Trust, and SEC filings testify Edge Wealth Management, JPMorgan Chase, Ark Invest, and Rothschild Investment Corporation also have exposure to BTC through Grayscale.