Three Arrows Capital Now Holds More Than 6% of Grayscale's $3.6B Bitcoin Trust

Three Arrows Capital now holds about 6.26% of the shares in the Grayscale Bitcoin Trust, or more than 20,000 bitcoins' worth.

AccessTimeIconJun 11, 2020 at 2:54 p.m. UTC
Updated Dec 11, 2022 at 7:38 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Three Arrows Capital, a crypto fund management firm based in Singapore, has acquired a significant stake in the Grayscale Bitcoin Trust (GBTC), according to a new filing with the U.S. Securities and Exchange Commission (SEC).

The firm filed a schedule 13D disclosure to the SEC on Thursday after accumulating 21,057,237 shares, or 6.26%, of the trust for an amount valued over 20,000 bitcoin (BTC) or around $192 million, according to a filing dated June 10. (Grayscale is a subsidiary of Digital Currency Group, CoinDesk's parent firm.)

A Schedule 13D form or beneficial ownership report is required when a person or group (firm) acquires more than 5% of any class of a company's shares. The information must be disclosed to the SEC within a 10-day period from the date of the transaction under current regulations.

Grayscale Investments is the world's largest digital currency asset manager with its flagship product, the Grayscale Bitcoin Trust that was set up in 2013. As of June 11, the trust holds approximately 365,000 bitcoin worth $3.6 billion, according to Grayscale's websitehttps://grayscale.co/bitcoin-trust/.

"Grayscale is one of the most professional and beneficial companies in the crypto ecosystem. We enjoy working with their team and are proud to be the first investor to file a Schedule 13D/G with the SEC for over 5% ownership," said Su Zhu, CEO and co-founder at Three Arrows Capital.

On January 21, GBTC became an SEC-compliant reporting company after filing a Form 10 with the SEC. Also known as the General Form for Registration of Securities it is used to register a class of securities for trading on U.S.-based exchanges. A company with over $10 million in total assets under management is required to file a Form 10 with the SEC.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Sebastian Sinclair is a CoinDesk news reporter based in Australia.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Sebastian Sinclair is a CoinDesk news reporter based in Australia.