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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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