# Multicoin Capital Management, LLC

> Multicoin Capital Management, LLC is an SEC-registered investment advisory firm in Austin, TX, registered since 2021, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 11, 2026.

- CRD: 297302
- Filed as: MULTICOIN CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Austin, TX
- Filing period: October 2026
- Form ADV filing dated: September 11, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/297302
- AdvisorCensus page: https://advisorcensus.com/firm/multicoin-capital-management-llc-austin-tx-297302

## Quick answers

**How is Multicoin Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Multicoin Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Multicoin Capital Management, LLC located?**
Multicoin Capital Management, LLC's principal office is in Austin, TX, according to its Form ADV.

**Is Multicoin Capital Management, LLC registered with the SEC or a state?**
Multicoin Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 297302.

**How much does Multicoin Capital Management, LLC manage?**
Multicoin Capital Management, LLC reports $2,687,517,064 in regulatory assets under management in its Form ADV filing dated September 11, 2026 (100% discretionary).

**How have Multicoin Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Multicoin Capital Management, LLC: Regulatory assets under management: $3,013,518,238 in the October 2021 data and $2,687,517,064 in the October 2026 data, down 11%. Total employees: 14 in October 2021 and 22 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Multicoin Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (18).

**Does Multicoin Capital Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/297302

**What changed in Multicoin Capital Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $5,949,336,925 to $2,687,517,064 (-55%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $2,687,517,064
- Discretionary: $2,687,517,064
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 18 | $2,687,517,064 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2021 (5 years)
- Employees: 22 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- multicoin.capital
- LinkedIn @multicoincapital
- X @MULTICOIN
- YouTube @UCI0WoT9igEs564tOHDhu1AA

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,013,518,238 | 14 | September 1, 2021 |
| October 2022 | $8,895,417,383 | 17 | September 14, 2022 |
| October 2023 | $1,363,471,529 | 22 | September 29, 2023 |
| October 2024 | $3,808,285,004 | 22 | May 29, 2024 |
| October 2025 | $5,949,336,925 | 22 | May 12, 2025 |
| October 2026 | $2,687,517,064 | 22 | September 11, 2026 |

Regulatory assets under management: $3,013,518,238 in the October 2021 data and $2,687,517,064 in the October 2026 data, down 11%.
Total employees: 14 in October 2021 and 22 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $5,949,336,925 to $2,687,517,064 (-55%).
- Updated its list of owners and control persons (Schedule A).

### January 2026
- No longer registered or notice-filed in NY.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Multicoin Capital Management, LLC (CRD 297302): Form ADV filing data as of October 2026.