Investment management outfit from Texas U.S. Global Investors has reportedly acquired Grayscale Trust shares, officially gaining exposure to Bitcoin. 

Specifically revealed via a filing on August 30th with the US SEC, U.S. Global Investors – currently offering management services for $4.6 billion in assets – reportedly obtained over $566,389 equivalent of shares of Grayscale Bitcoin Trust (GBTC) for three of its eight mutual funds. 

The filings additionally revealed details of an investment of $302,899 GBTC poured in its Gold and Precious Metals Fund, $222,532 dedicated to its World Precious Minerals Fund, and $40,958 in its Global Resources Fund.

The Bitcoin (BTC) exposure reportedly represents a maximum of 0.19% of the net assets in the funds, taking into account the Gold and Precious Metals Fund individually is made up of approximately $158 million in assets under management. 

“This is not a surprise nor does it indicate a shift in the way other gold equity managers view crypto or Bitcoin” gold bug Peter Schiff further remarked, with additional disclosure that the Head of of U.S. Global Investors, Frank Holmes, is also taking up the executive role for crypto mining entity Hive Blockchain.

A gold bug such as Schiff, Holmes had previously casted their predictions of the prices of Bitcoin and Ether (ETH) could potentially hit the $80,000 and $3,000 price caps, respectively, this year. 

A variety of high-profile investment entities have reportedly finalized the acquisition of GBTC for different reasons, ranging from hedging bets on inflation to responding to investor interest. Nominally, Morgan Stanley’s Insight Fund currently has possession over approximately 928,000 shares of Grayscale’s Bitcoin Trust.