US Global Investors bought crypto exposure through Grayscale funds

US Global Investors bought crypto exposure through Grayscale funds

Texas-based investment manager U.S. Global Investors, which reported $4.6 billion in assets under management as of Q1 2021, has bought exposure to Bitcoin.

According to Aug. 30 filings from the U.S. Securities and Exchange Commission, U.S. Global Investors added more than $566,389 worth of shares of Grayscale Bitcoin (BTC) Trust, or GBTC, to three of its eight 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 World Precious Minerals Fund, and $40,958 in its Global Resources Fund.

The Bitcoin exposure represents up to 0.19% of the net assets in the funds given the Gold and Precious Metals Fund alone has roughly $158 million in assets under management. However, it is a seemingly surprising investment from a firm that has significant exposure to gold, minerals, precious metals, petroleum, and other natural resources. U.S. Global Investors also classified the GBTC as common equity.

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