Bitcoin News

Three Arrows Capital Holds 36,969 Bitcoin ($1.24B) via An Over 6% Stake in GBTC

Three Arrows Capital currently holds about $1.24 billion worth of position in Grayscale’s Bitcoin Trust, up from $230 million in June.

Since June, the Singapore-based investment firm has purchased 17,831,650 shares of GBTC.

Now has a total of 38,888,888 shares representing just over 6% stake in GBTC. The firm holds a total of 36,969 BTC BTC 3.70% Bitcoin / USD BTCUSD $ 32,505.88
$1,202.72 3.70%
Volume 60.27 b Change $1,202.72 Open $32,505.88 Circulating 18.59 m Market Cap 604.33 b
35 s Three Arrows Capital Holds 36,969 Bitcoin ($1.24B) via An Over 6% Stake in GBTC 1 h $146,000 per Bitcoin Is An ‘Unsustainable’ Price Target for This Year: JPMorgan Chase Strategists 2 h Celo Goes Vertical with Crypto Exchange Binance Listing Against BTC & USDT

Read Also:   Why Crypto Is the Next Big Trend in Financial Planning

“GBTC is our preferred way to prefer wealth, aka BTC,” commented Su Zhu, CEO and CIO at Three Arrows Capital.

The world’s largest crypto asset manager Grayscale Investments has a total of 606.9k BTC in its holdings worth$18.78 billion, with no new purchase since Dec. 25. And Three Arrows has the largest position in its Bitcoin fund.

Typically, the shares of Grayscale’s product trades at a high premium, currently GBTC shares are at a premium of 17.05%, down from 40% on Dec. 22nd and from 132% back in May of 2017. This premium offers traders an opportunity to arbitrage.

Three Arrow’s portfolio also involves Ethereum (ETH), Polkadot (DOT), Uniswap (UNI), AAVE, Synthetix (SNX), Yearn.Finance (YFI), Compound (COMP), Kyber Network (KNC), and HXRO among others as per Messari.

Read Also:   LYM and REVV are partnering for a Special Liquidity Mining Event to give out F1 Delta Time prizes

Download MAXBIT Android App, Your best source of all crypto news!
Google Play

Source link

Three Arrows Capital Holds 36,969 Bitcoin (.24B) via An Over 6% Stake in GBTC

by Anthony Beattie
Choose A Format
Voting to make decisions or determine opinions
Formatted Text with Embeds and Visuals
The Classic Internet Listicles
Upload your own images to make custom memes
Youtube, Vimeo or Vine Embeds
Soundcloud or Mixcloud Embeds
Photo or GIF
GIF format