Three Arrows Capital's GBTC stake is worth about $192 million as of press time. (Credit: Shutterstock/RikoBest)
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 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 (BTC) or around $192 million, according to . (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 .