Multicoin Capital Management, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Multicoin Capital Management, LLC reported 2 stock positions worth $95.8 million. Its top holding was Grayscale Bitcoin Trust ETF (GBTC) at 89.9% of the portfolio, followed by Grayscale Bitcoin Mini ETF (BTC, 10.1%). Compared with Q4 2024, it sold out of 1. The biggest sale was an exit from Coinbase Global Class A (COIN).

Most Recent 13F
Q2 2026
Location
AUSTIN, TX
CIK
0002017172
Portfolio Value
$95.8M (Q1 2025)
SEC Filing
0001904574-25-000005 ↗ filed May 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $300.9M Q1 2024 Q2 2024: $308.0M Q2 2024 Q3 2024: $264.4M Q3 2024 Q4 2024: $374.0M Q4 2024 Q1 2025: $95.8M $95.8M Q1 2025 Q2 2025: $124.8M Q2 2025 Q3 2025: $274.3M Q3 2025 Q4 2025: $114.4M Q4 2025 Q1 2026: $75.9M Q1 2026 Q2 2026: $165.1M Q2 2026

Holdings 2 stocks · $95.8M
GBTC Grayscale Bitcoin Trust ETF 89.93% 1,321,808 $86.1M No change
BTC Grayscale Bitcoin Mini ETF 10.07% 264,361 $9.6M No change

Portfolio Sells Q4 2024 → Q1 2025
COIN Coinbase Global Inc. Class A Sold out 0.00% −70.88

Portfolio Buys Q4 2024 → Q1 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 2$165.1MHOOD, BSOL
Q1 2026 3$75.9MHOOD, BSOL, FWDI
Q4 2025 4$114.4MFWDI, BSOL, GBTC, BTC
Q3 2025 3$274.3MFWDI, GBTC, BTC
Q2 2025 2$124.8MGBTC, BTC
Q1 2025 2$95.8MGBTC, BTC
Q4 2024 3$374.0MCOIN, GBTC, BTC
Q3 2024 3$264.4MCOIN, GBTC, BTC
Q2 2024Amended 3$308.0MCOIN, GBTC, FOUR
Q1 2024Amended 3$300.9MCOIN, GBTC, FOUR