Q4 2025 · 13F-HR
Multicoin Capital Management, LLCholdings as filed
Filed 2026-02-13 · accession 0002017172-26-000001
$114.4M
Reported value
4
Positions
2025-12-31
Period end
The Brief · Multicoin Capital Management, LLC · Q4 2025
AI · grounded in 13F
Multicoin Capital Management, LLC established a new position in Bitwise Solana Staking ETF BSOL valued at $30.99M. The fund also trimmed its holding in Grayscale Bitcoin Trust ETF GBTC, reducing its share count by 77.13%. These moves leave the fund with 4 total positions and a total AUM of $114.43M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 349862409 | 23I | FORWARD INDS INC N Y | $52.5M | 45.9% | 7,947,843 | Common | SOLE |
| 091948109 | BSOL | BITWISE SOLANA STAKING ETF | $31.0M | 27.1% | 1,890,000 | Common | SOLE |
| 389637109 | GBTC | GRAYSCALE BITCOIN TRUST ETF | $20.7M | 18.1% | 302,251 | Common | SOLE |
| 389930207 | BTC | GRAYSCALE BITCOIN MINI TRET | $10.2M | 8.95% | 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.