As of November 9, 2020, according to publicly disclosed information, a total of 23 companies (a total of 29 institutional-level accounts) hold Grayscale Bitcoin trust shares. Encrypted asset lending company BlockFi is the largest holder of Grayscale Bitcoin Trust, holding approximately 24,235,500 trust shares. The Rothschild family of traditional financial powers also quietly entered the market, indicating that traditional financial institutions are paying more attention to the emerging crypto field.
29 institutional accounts hold trust shares
As of November 9, 2020, according to publicly disclosed information, a total of 23 companies (a total of 29 institutional-level accounts) hold Grayscale Bitcoin trust shares, with a total of 59,553,200 trust shares held, accounting for Grayscale Bitcoin 11.5% of the issued share of the trust (Note: The statistical caliber is the information disclosed by the institution in the US SEC. The share of trust held by the institution will change in different reporting periods. The statistics in this article are still holding trusts as of November 9, 2020. Share of institutions). The 23 companies include crypto asset lending companies, hedge funds, mutual funds, private wealth companies, consulting companies, and family offices.
Among the 23 holding institutions, some of the institutions have multiple products holding Grayscale Bitcoin trusts, and a total of 29 institution-level accounts hold trust shares.
The mutual fund Horizon Kinetics has five trust funds (KINETICS PORTFOLIOS TRUST) and a closed-end fund (RCG) invested in Grayscale Bitcoin Trust. The five trust funds hold a total of 5,177,700 The closed-end fund RCG (the stock code of RENN Fund, Inc. listed on the US stocks, RENN Fund, Inc. is a closed-end fund under Horizon Kinetics) holds 5,460 trust shares.
The main body of the hedge fund Ark Investment Management Co., Ltd. also holds Grayscale Bitcoin Trust, holding 5,170,400 shares; its “ARK Next Generation Internet ETF” (ARK Next Generation Internet ETF) holds 3,154,400 trust shares.
It is worth noting that the institutions hidden in this list have accounts of well-known private wealth management institutions or family offices, including the famous Rothschild Investment Corp (Rothschild Investment Corp).
Based on the calculation that each trust share corresponds to 0.00095299 bitcoins on November 9th, the trust shares held by 29 institutional-level accounts correspond to a total of approximately 56,753 bitcoins. Among them, the largest holding is the encrypted asset lending company BlockFi, and the number of bitcoins corresponding to the holding trust share is about 23,096.
This article will briefly introduce the background of several major share holding institutions in the list.
BlockFi, a crypto asset lending company
BlockFi is a New York-based crypto asset lending company founded in 2017 by Zac Prince (Zac Prince) and Flori Marquez (Flori Marquez). BlockFi is a secured non-bank lender that provides U.S. dollar loans to mortgagers who use encrypted assets to mortgage loans. It aims to provide credit services to markets where simple products such as savings accounts are difficult to obtain.
The founder Zac Prince (Zac Prince) graduated from Texas State University and has rich experience in the field of Internet lending. Before starting BlockFi, he led brokers in the field of online lending and Orchard of RIA Platform and the business development team of online consumer lender Zibby. Another founder, Flori Marquez (Flori Marquez) has a close relationship with fixed income in his career. He once served as the fund manager of a $30 billion fixed income portfolio.
BlockFi currently has operations in more than 44 states in the United States. During its development, it has been supported by strategic investment funds from many venture capital funds in the crypto sector, including the famous Conibase Ventures, GALAXY DIGITAL, and Morgan Creek Capital. Management company (Morgan Creek), THREE ARROWS CAPITAL, Winklevoss Capital of the Winklevoss brothers, etc.
As of November 9, 2020, BlockFi holds 24,235,500 shares of Grayscale Bitcoin trust, accounting for approximately 4.7% of the issued share.
Three Arrows Capital
Three Arrows Capital of Singapore is a hedge fund in the cryptocurrency field, founded in 2012 by Su Zhu and Kyle Davies. Its business modules include basic encrypted asset investment, decentralized financial DeFi investment, equity investment and fund business.
As of November 9, 2020, Three Arrows Capital holds 21.05 million Grayscale Bitcoin trust shares, accounting for about 4.08% of the issued shares.
Mutual Fund Horizon Dynamics
Horizon Kinetics Asset Management Co., Ltd. acted as the investment advisor of Kinetics Mutual Funds, Inc., which has a total of 9 mutual funds, of which five funds hold shares of Grayscale Bitcoin trust. Kinetics was established in 1994 and became a wholly-owned subsidiary of Horizon Dynamics in 2011. As of June 2020, the scale of Horizon Dynamics’ asset management is approximately US$5.135 billion.
Paradigm Fund, Small Cap Opportunities Fund, Internet Fund, Market Opportunities Fund, and Global Fund managed by Kinetics Mutual Funds, Inc. respectively hold There are 1.965 million shares of Grayscale Bitcoin Trust, 307,100 shares, 2,146,600 shares, 601,800 shares, and 156,500 shares. Among them, the first largest positions of Global Fund and Internet Fund are Grayscale Bitcoin Trust, with positions accounting for 11.4% and 21.3% respectively (data as of 2020/9/30).
Rothschild family
In the list of institutions is a long-established family investment company-Rothschild Investment Corp. The reason why it is listed and introduced is that the company has a very long history, which represents the “old money” in the traditional field is optimistic about the emerging encryption field.
The Rothschild Investment Company was originally called Rothschild & Company. It was established in 1908 by Monroe Rothschild and his brother-in-law Samuel Karger. It has been a leading financial institution in Chicago, Illinois. When the stock market crash of 1929 triggered the Great Depression, it was Samuel Kage’s firm belief in personal customer service, financial conservatism, and business acumen that saved Rothschild from disaster. To this day, these investment principles are still engraved on the foundation of the Rothschild family and form the backbone of today’s business.
As of June 30, 2020, the Rothschild Investment Company’s assets under management (AUM) was US$1.397 billion, and it had 1,405 customers worldwide. Its largest investment target was Apple, which held 413,200 shares of Apple. Data source: whalewisdom
As of November 9, 2020, Rothschild Investments holds 24,500 Grayscale Bitcoin Trust shares, accounting for approximately 0.0048% of the issued shares. Although the holdings are small and the number of bitcoins corresponding to the holdings is only 23, as a traditional aristocratic investment company, its attitude represents the position of financial forces in the traditional field to integrate into the emerging crypto market, and also illustrates the cryptocurrency market from the side. The attraction of is constantly increasing.
