Israel’s AltshulerShaham Investment House has multiplied its money after investing $100 million into the Grayscale Bitcoin Trust last year. It’s the only Israeli institution to have invested this substantial quantity of funds into Bitcoin to date. Well-known as one of Israel’s largest investment houses, AltshulerShaham has above $50 billion in AUM. It is primarily long-term savings for retirement and pension funds as of the end of January 2021. The news mirrors increasing institutional interest in Bitcoin internationally. Moreover, on March 7, the Chinese tech company Meitu had become the first Hong Kong-listed company to fund $40 million into cryptocurrencies, divided between Ethereum and Bitcoin.
Gilad Altshuler, the CEO and Co-founder of the asset management company professed to be acquiring shares of GBTC when the leading crypto was trading at approximately $21,000 by the end of the year. As per the reports, when Bitcoin hit its new highs during early February, the investment house took profits on approximately a third of the initial investment. Recently, AltshulerShaham holds over $150 million worth of cryptocurrency. It intends to add more into the future.
IlanSterk as New CEO of AltshulerShaham Horizon
This is not the first time the Israeli company has displayed an interest in cryptocurrency. The firm reportedly participated in the local initial coin offering back in 2017. Moreover, its subsidiary AltshulerShaham Horizon is more engaged in the crypto space. Last week, it hired IlanSterk as its new CEO. Moreover, he has expertise in handling the trading and capital markets division of Orbs, the Israeli blockchain company.
Further, Sterk brings around twenty years of financial services industry experience to the position. It involves various years of working in the blockchain industry. Sterk states he has developed a broad range of skillsets involving knowledge of trading, investments, back-office operations, payments, and risk management, and building crypto trading infrastructure, and much more. In the LinkedIn post publishing the new position at AltshulerShaham Horizon, Sterk declared he would be working to develop its “Digital Asset business line.”
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