Three Arrows Capital Holds Nearly 37,000 BTC Through The Grayscale Bitcoin Trust

Three Arrows Capital, a fund management company registered and supervised by the Monetary Authority of Singapore, disclosed a massive BTC position through the Grayscale Bitcoin Trust. The firm owns over 6% of all GBTC shares, meaning a total amount of almost 37,000 bitcoins.

  • According to a document that Three Arrows Capital filed with the US Securities and Exchange Commission (SEC), the company owns 38,888,888 shares of the Grayscale Bitcoin Trust.
  • This represents 6.1% of all 638,906,600 shares outstanding of the issuer (Grayscale) as of December 28th, 2020. 
  • One GBTC share contains 0.00095012 bitcoins, as per Grayscale’s website – meaning that the hedge fund manager holds 36,969 bitcoins.
  • With the price of one GBTC hovering above $35, this would mean a position of nearly $1.4 billion in the company’s shares.
  • Three Arrows Capital disclosed in mid-2020 in another SEC filing that it had accumulated slightly over 21 million shares. This represents a near 85% increase in their GBTC holdings since June last year.
  • Additionally, Grayscale recently announced reducing its management fees from 3.0% to 2.5% for its Digital Large Cap Fund. The company noted that this decision comes after the significant increase in demand from institutions towards bitcoin and other cryptocurrencies. 
  • It’s worth noting that 2020 was the best year for the leading digital asset manager. The company increased its assets under management (AUM) by ten-fold to over $20 billion by the end of the year. Naturally, the Grayscale Bitcoin Trust accounts for the largest share with 87% of all holdings.

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