FTX's bankruptcy estate sells $1 billion worth of Grayscale Bitcoin Trust shares
Investors have sold over $2 billion worth of Grayscale Bitcoin Trust (GBTC) since it became an exchange-traded fund earlier this month. FTX's bankruptcy estate was responsible for a large portion of the exodus, selling 22 million shares worth close to $1 billion. While new bitcoin ETFs from BlackRock and Fidelity have seen inflows, GBTC has seen billions of dollars worth of bitcoin pulled out. FTX's selling pressure may ease now that it has finished liquidating its holdings, which were valued at $597 million in October 2023.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US stablecoin bill fails after $65 million bipartisan effort stalls

Bond says government induced guilty plea in $400K FTX campaign case

Two US states pass Bitcoin reserve laws worth millions in 48 hours

Sol Strategies eyes $100 million tokenised shares on Solana blockchain

Trending news
MoreCrypto prices
More








