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Singapore’s Three Arrows Capital Is First Qualified Investor to Hold Over 5% of Grayscale’s Multi-Billion Dollar Bitcoin Trust Shares

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Singapore-based Three Arrows Capital, a digital asset hedge fund, has reportedly become the first qualified investor to hold over 5% of Grayscale’s Bitcoin Trust (OTC:GBTC) shares.

According to Grayscale, its Bitcoin Trust’s shares are the first publicly quoted securities “solely invested in and deriving value from the price of Bitcoin,” the flagship cryptocurrency.

As explained by the company, Grayscale Bitcoin Trust allows investors to gain exposure to the price movement of BTC by using a traditional investment vehicle, without the challenges of actually purchasing and securely storing the pseudonymous cryptocurrency.

The fund has grown to more than 21 million GBTC shares, which are presently valued at around $259 million, or a little more than 20,230 bitcoins (at current rates).

The fund recently filed a Schedule 13G form with the US Securities and Exchange Commission (SEC) for holding 6.26% of all outstanding GBTC shares.

It’s not confirmed whether Three Arrows Capital made “in-kind” contributions, meaning it’s not clear if it actually deposited its own BTC funds in exchange for shares or GBTC shares.

In-kind investments are usually made by institutions so that they can arbitrage premiums over the total value of the asset. Grayscale’s digital asset products, which include Bitcoin Cash (BCH), XRP, Ethereum (ETH), Ethereum Classic (ETC) focused options (among others), reportedly saw almost 80% of inflows in in-kind during Q3 2019.

GBTC invests exclusively in Bitcoin (BTC) and gives exposure to the cryptocurrency via a traditional investment vehicle. Shares are publicly traded via the OTC market.

Launched in 2013, GBTC is presently managing around $3.65 billion in total assets (the value of all the BTC held in the trust), which is a new all-time high. The fund holds approximately 365,190 bitcoins on behalf of clients.

Su Zhu and Kyle Davies from Three Arrows Capital argue that GBTC is one of the most liquid ways for equity investors to take advantage of BTC’s price increase.

GBTC is trading at around $12.30 with 380,090,300 outstanding shares that have a market cap of around $4.68 billion.

The net asset value of GBTC stands at $3.65 billion, meaning it’s trading at around a 28% premium.

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Source: https://www.crowdfundinsider.com/2020/06/162672-singapores-three-arrows-capital-is-first-qualified-investor-to-hold-over-5-of-grayscales-multi-billion-dollar-bitcoin-trust-shares/

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Financial institutions can support COVID-19 crowdfunding campaigns

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The economic impact of the COVID-19 pandemic adversely affected the financial outlook for millions of people, and continues to cause significant fiscal distress to millions more, but such challenging times have also wrought a more resilient and resourceful financial system.

With the ingenuity of crowdfunding, considered to be one of the last decade’s greatest “success stories,” and such desperate times calling for bold new ways to finance a wide variety of COVID-19 relief efforts, we are now seeing an excellent opportunity for banks and other financial institutions to partner with crowdfunding platforms and campaigns, bolstering their efforts and impact.

COVID-19 crowdfunding: A world of possibilities to help others

Before considering how financial institutions can assist with crowdfunding campaigns, we must first look at the diverse array of impressive results from this financing option during the pandemic. As people choose between paying the rent or buying groceries, and countless other despairing circumstances, we must look to some of the more inventive ways businesses, entrepreneurs and people in general are using crowdfunding to provide the COVID-19 relief that cash-strapped consumers with maxed-out or poor credit do not have access to or the government has not provided.

Some great examples of COVID-19 crowdfunding at its best include the following:

The possibilities presented by crowdfunding in this age of the coronavirus are endless, and financial institutions can certainly lend their assistance. Here is how.

1. Acknowledge that crowdfunding is not a trend

Crowdfunding is a substantial and ever-so relevant means of financing all sorts of businesses, people and products. Denying its substantive contribution to the economy, especially in digital finance during this pandemic, is akin to wearing a monocle when you actually need glasses for both of your eyes. Do not be shortsighted on this. Crowdfunding is here to stay. In fact, countless crowdfunding businesses and platforms continue to make major moves within the markets globally. For example, Parpera from Australia, in coordination with the equity-crowdfunding platforms, hopes to rival the likes of GoFundMe, Kickstarter and Indiegogo.

2. Be willing to invest in crowdfunded campaigns

This might seem contrary to the original purpose of these campaigns, but the right amount of seed-cash infusions to campaigns that are aligned with your goals as a company is a win-win for both you and the entrepreneurs or causes, especially now in such desperate times of need.

3. Get involved in the community and its crowdfunding efforts

This means that small businesses and medium-sized businesses within your institution’s community could use your help. Consider investing in crowdfunding campaigns similar to the ones mentioned earlier. Better yet, bridge the gaps between financial institutions and crowdfunding platforms and campaigns so that smaller businesses get the opportunities they need to survive through these difficult times.

4. Enable sustainable development goals (SDG)

Last month, the United Nations Development Program released a report proclaiming that digital finance is now allowing people from all over the world to customize and personalize their money-management experiences such that their financial needs have the potential to be more readily and sufficiently met. Financial institutions willing to work as a partner with crowdfunding platforms and campaigns will further these goals and set society up for a more robust rebound from any possible detrimental effects of the COVID-19 recession.

5. Lend your regulatory expertise to this relatively new industry

Other countries are already beginning to figure out better ways to regulate the crowdfunding financing industry, such as the recent updates to the European Union’s handling of crowdfunding regulations, set to take effect this fall. Well-established financial institutions can lend their support in defining the policies and standard operating procedures for crowdfunding even during such a chaotic time as the COVID-19 pandemic. Doing so will ensure fair and equitable financing for all, at least, in theory.

While originally born out of either philanthropy or early-adopting innovation, depending on the situation, person or product, crowdfunding has become an increasingly reliable means of providing COVID-19 economic relief when other organizations, including the government and some banks, cannot provide sufficient assistance. Financial institutions must lend their vast expertise, knowledge and resources to these worthy causes; after all, we are all in this together.

Source: https://techcrunch.com/2020/10/23/financial-institutions-can-support-covid-19-crowdfunding-campaigns/

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Crowdfunding

Taking LSD Could Help Your Career

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You rely on Crowdability to bring you the best start-up deals. Now rely on us to bring you the most fascinating stories and trends from the world of technology. You won’t find this stuff in the mainstream press. Look for it every Friday morning.

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Source: http://www.crowdability.com/article/taking-lsd-could-help-your-career

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Earn $10,249 a Year in FREE “Crypto Income”

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Last December, I wrote to you about a new way to make money with cryptos.

It didn’t involve risking your money on high-risk crypto tokens. Instead, it was a way to earn safe, consistent income — for FREE — month after month.

In fact, as I’ll explain today, if you’d followed my advice, you could have earned as much as $10,249 over the past year.

But if you didn’t follow my advice, not to worry…

Because as I’m about to explain, you can still take advantage of this strategy today…

Let Me Introduce You to Sandy

Before I reveal this powerful income-generating strategy, let me introduce you to someone:

Her name is “Sandy” — or, as she’s more commonly known, Hurricane Sandy.

Sandy hit New York on October 29th, 2012. According to Business Insider, it was the “worst storm to hit the area since at least [the year] 1700.”

It dropped over 14 feet of water on lower Manhattan, and it left millions of residents without power, cell phone service, or the internet.

People had no way to get in touch with their loved ones, or to get access to emergency info.

But for residents of a tiny neighborhood in Brooklyn, it was quite a different story…

A Peer-to-Peer Network Saves the Day

When Sandy hit and the internet went down, a small group of technologists in an old industrial neighborhood called Red Hook sprang into action.

They set up a “peer-to-peer” network called a “local mesh network.” This enabled residents to connect to each other’s computers directly, so they could communicate.

Everyone else was trying to get online the traditional way: by connecting to a single server. But since that single server wasn’t working, they were out of luck.

Here’s an image that shows a traditional network versus a peer-to-peer network:

As you can see, there’s no “middleman” in the peer-to-peer network…

So there’s no single point of failure!

This Could be Huge

This type of peer-to-peer technology is a big deal…

The next time a natural disaster occurs — or God forbid, if there’s a terrorist strike — it could keep people online and connected.

This explains why Grandview Research estimates that, by 2025, such networks could turn into a market worth $11 billion.

It also explains why venture capitalists are pouring money into this sector. For example, Union Square Ventures recently invested $15 million into a peer-to-peer networking startup.

And as it turns out, you could profit from this deal, too.

Let me explain…

Introducing: Helium

Union Square Ventures is one of the most successful venture firms in the country.

It was an early investor in billion-dollar startups like Twitter and Tumblr.

And now it’s invested in a peer-to-peer networking startup called Helium.

Simply put, Helium has built a simple device that acts as a “hot spot.”

Once you put the device in your home, people in your neighborhood can use it to connect to each other instantly.

This device is a breakthrough. You see, when the Red Hook technologists set up their network during Hurricane Sandy, they encountered huge problems. For example:

  • They had to create their own custom software.
  • They were forced to rely on inefficient hardware and unsecure connections.
  • They had to pay huge electricity bills.

But Helium fixes all of these problems in one fell swoop. And now, during an emergency, a Helium network could mean the difference between life and death.

And that’s why Helium wants to incentivize you to set one up…

New Crypto: Helium Tokens

Simply put, if you set up a Helium network, you can earn real money.

Here’s how it works:

  • Helium has created a crypto-currency called Helium Tokens (HNT).
  • To earn these coins, you just need to set up and maintain a Helium network.
  • And because these coins are traded on various crypto exchanges, you can exchange them for real dollars.

Fred Wilson, a partner at Union Square Ventures, has earned roughly 8,266 Helium Tokens since he first set up his device a year ago.

Based on the current price for Helium Tokens, that works out to roughly $10,249 in extra income in the past year alone!

And now you have the chance to start earning income like that, too!

Cash-in on Cryptos Today

Keep in mind: to get started, you’ll need to pay a few hundred dollars for the Helium device.

But once you own the device, you essentially have a source of free income.

To learn more, visit Helium’s website here »

Happy investing!

Best Regards,
Wayne Mulligan
Wayne Mulligan
Founder
Crowdability.com

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Source: http://www.crowdability.com/article/earn-10249-a-year-in-free-crypto-income

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