May 15, 2021

The Rothschild investment fund invested in the Kraken crypto exchange

RIT Capital Partners' interest in the platform is related to its plans to become a public company and conduct a direct listing shares in 2022.

RIT Capital Partners Investment Fund (formerlyRothschild Investment Trust) acquired a stake in the Kraken cryptocurrency exchange. This became known from a note sent to investors. The size of the share and the amount invested by the fund are not mentioned in the document.

RIT Capital Partners' interest in Kraken is related tothe cryptocurrency exchange plans to become a public company and conduct a direct listing of shares in 2022. A note to investors indicated that one of Kraken's main competitors, the Coinbase crypto exchange, earned a record $ 1.8 billion in the first quarter of 2021, which is more than in the entire 2020.

The head of the Kraken crypto exchange Jesse Powell earliersaid that the company could go public and conduct a direct listing of shares in the second half of 2021. Also, according to him, the platform may change jurisdiction and leave the United States due to the tightening of regulation of the cryptocurrency sector. The management of the company is considering the UAE, the UK and Japan as an alternative.

Kraken is one of the largest cryptocurrency exchanges in the world, ranking fourth in terms of trading volume. The site, founded in 2011, has over 6 million customers.

RIT Capital Partners is a British investment fund founded by Lord Jacob Rothschild. Its market capitalization is $ 5.3 billion.

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