FTX sells approximately $1 billion in GBTC since GBTC converted to ETF
According to private data reviewed by CoinDesk and two insiders, since the Grayscale Bitcoin Trust Fund (GBTC) converted to an ETF earlier this month, FTX's bankruptcy institution has sold 22 million shares of GBTC worth about $1 billion, with a large portion being outflows of funds. As of October 25, 2023, FTX held 22.3 million shares of GBTC, and on January 11, the first day of GBTC trading on NYSEArca, the value of GBTC held by FTX rose to around $900 million, according to documents submitted on November 3, 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
PEPEPERP now launched for USDC-M futures trading
An ETH whale borrowed 100 WBTC from Aave and sold them all at $100,706
CFPB sued for treating digital wallets like banks
Tech trade groups sue US regulator over push to treat payment apps like banks