Multicoin Capital Management, LLC — Q3 2025 13F-HR

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Q3 2025 · 13F-HR

Multicoin Capital Management, LLCholdings as filed

Filed 2025-11-13 · accession 0002017172-25-000012

$274.3M

Reported value

Positions

2025-09-30

Period end

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The Brief · Multicoin Capital Management, LLC · Q3 2025

AI · grounded in 13F

Multicoin Capital Management, LLC established a new position in FORWARD INDS INC N Y 23I valued at $142.3M. The fund also initiated a position in GRAYSCALE BITCOIN TRUST ETF GBTC for $118.7M. Additionally, it added GRAYSCALE BITCOIN MINI TRET BTC to its portfolio with a $13.4M investment. These three new holdings bring the fund's total AUM to $274.3M.

Holdings as filed

CUSIP	Ticker	Issuer	Value	% port.	Shares	Class	Voting
349862409	23I	FORWARD INDS INC N Y	$142.3M	51.9%	7,947,843	Common	SOLE
389637109	GBTC	GRAYSCALE BITCOIN TRUST ETF	$118.7M	43.3%	1,321,808	Common	SOLE
389930207	BTC	GRAYSCALE BITCOIN MINI TRET	$13.4M	4.88%	264,361	Common	SOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.