The Rothschild family just took another major step into the world of cryptocurrencies. Through RIT Capital Partners - formerly the Rothschild Investment Trust - it has invested in the US-based digital currency exchange Kraken. Rothschild family invests in cryptocurrency exchange A note to investors, written by James Glass, Sales Director for Investment Firms at Numis Securities and published on the RIT Capital website, states that "at an RIT Capital webinar last month" it was revealed that the firm had "acquired an interest in Kraken." Glass did not mention the size of the investment, but also noted that "Kraken is currently in discussions with investors about another round of fundraising that could give [the stock] a valuation of $20 billion." UK-based RIT Capital had a total net asset value of about $5.3 billion at the end of 2020. The company was founded by Lord Jacob Rothschild. However, worth noting, this is not RIT's first investment in the cryptocurrency market. Late last year, the company joined the likes of PayPal in investing in Paxos. Kraken wants to go public For Kraken, the new investors are great news. As media reported back in late March, Kraken CEO Jesse Powell recently stated that his company is on track to go public next year, "probably" in the "second half" of 2022. However, he added that "right now there are no guarantees" that it will be successful, noting that "anything can happen in the cryptocurrency space." He also said at the time that an exchange doesn't need to raise money to go public and that "raising more capital at this point would simply mean more acquisitions." Regardless of what he said, in February Kraken was reportedly in talks with investors about an offer to raise new funding, which could see its valuation more than double to more than $10 billion, although the final value could be double that "depending on demand." At the time, Fidelity, Tribe Capital and General Atlantic were mentioned among potential investors. Tags cryptocurrency exchanges investment investment in Kraken Kraken Rothschild
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