BlockFi Registers Bitcoin Trust With SEC

BlockFi is the latest company to signal its intent to offer a Bitcoin trust investment vehicle, filing the initial documents with the Securities and Exchange Commission Friday morning.  BlockFi did not disclose the range of the asset values that will be […]

article-image
share

key takeaways

  • The trust will be offered under Rule 506(c) framework
  • The size of trust and premiums are currently unknown

BlockFi is the latest company to signal its intent to offer a Bitcoin trust investment vehicle, filing the initial documents with the Securities and Exchange Commission Friday morning. 

BlockFi did not disclose the range of the asset values that will be placed in trust. For the sake of comparison, Grayscale’s bitcoin trust has over $20 billion in assets. Toronto-based Ninepoint Partners recently established a bitcoin trust with an asset value of $180 million ($230 million CAD). 

BlockFi’s trust will be offered under the SEC’s 506c rule, a common legal framework used to issue private placements in funds and trusts. However, this will limit participation in the trust to accredited investors. 

The New Jersey-based BlockFi has raised $158.7 million to date and has said it plans to go public in the second half of 2021 through a special purpose acquisition company.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

Silk Road founder Ulbricht made a triumphant return to the Bitcoin Conference, 10 years on from sentencing

article-image

A Blockworks Research report looked at who could take up some of the marketshare in the launchpad space

article-image

Business-to-business stablecoin payments are on the rise, per a report from Artemis, Dragonfly and Castle Island

article-image

Crypto continues to do its thing: incentivizing behavior

article-image

Kraken will soon offer Backed ‘xStocks’ as Solana tokens

article-image

In a unanimous decision, the US Court of International Trade has ruled that Trump’s IEEPA tariffs are unlawful