Everscale Partner
20 institutional investors in the last quarter filed reports with the US Securities and Exchange Commission (SEC), indicating that they have a stake in the bitcoin trust (GBTC) of Grayscale Investments, writes Forbes.
Many contributors are well known, including Ark Invest with $ 4.5 billion in assets under management and Horizon Kinetic with $ 5.3 billion. However, there are also newcomers to the cryptocurrency space on the list such as Addison Capital and Corriente Advisor.
Institutions, the amount of assets under their management and the amount in GBTC in hundreds of thousands of US dollars
Rothschild Investment Corporation, for example, has $ 1.4 billion under management and holds $ 235,000 in GBTC, first investing in a trust back in 2017. However, she has nothing to do with that very Rothschild family.
“It is extremely difficult to get a clear signal of who is entering and exiting this space. However, there are very interesting channels that allow assessing institutional interest, ”said cryptanalyst at Ark Invest Yasin Elmanjra.
This data collection channel, too, may soon be limited if the SEC completes its plan to raise the minimum requirement when companies have to submit such reports, from $ 100 million to $ 3.5 billion. Of the 27 entities on the list, only nine go for $ 3. 5 billion mark. They are operated by three companies, and information on all other major investors in GBTC may not be available.
Grayscale filed with the SEC this week to register its Ethereum trust, having previously done the same with a Bitcoin trust.
“Our model works,” said Grayscale managing director Michael Sonnenschein. “In addition, it forces our team to maintain even higher standards in terms of business management and can be adopted by other asset managers.”
