Twenty-seven institutional investors acquired stakes in Grayscale Investments’ Bitcoin Trust (GBTC). Details are contained in reports filed with the U.S. Securities and Exchange Commission (SEC), Forbes reports.
The data point to new entrants in the crypto space. Alongside already known mutual funds such as ARK Invest with $4.5 billion in assets under management and Horizon Kinetic with $5.3 billion, the list includes firms such as Addison Capital and Corriente Advisor.
According to the publication, the vast majority of institutions that filed Form 13F reports may soon no longer have to do so. The regulator plans to raise the threshold for reportable asset volumes from $100 million to $3.5 billion.
Of the 27 funds listed, only nine have exceeded this threshold as of now, managed by three firms. The proposed changes mean that information about the remaining major GBTC investors may become unavailable.
This week, Grayscale Investments filed with the SEC to register its Ethereum Trust. Previously, GBTC had been granted such a status.
The company has committed to filing quarterly and annual 10-K reports for GBTC with the SEC. It is expected to boost investor confidence in a product that will adopt the structure familiar to them. Grayscale said it has similar plans for eight other investment products tied to altcoins.
«Our model works. It motivates our team to adhere to even higher standards of corporate governance and to set a benchmark for other asset managers,» said Grayscale CEO Michael Sonnenshein.
Total assets under management at Grayscale currently stand at $5.7 billion.
08/06/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $5.7 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/s69dqXAWK6
— Grayscale (@Grayscale) August 6, 2020
GBTC remains the most popular, its share in the portfolio exceeding 80% ($4.69 billion). Grayscale Ethereum Trust is in second place among investors.
Earlier ForkLog reported, that in just 11 days Grayscale Investments managed to raise $1 billion across its funds.
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