‘Company Redeems GBTC Shares and Purchases 32K Bitcoins Using Funds’

‘Company Redeems GBTC Shares and Purchases 32K Bitcoins Using Funds’

‘Company Redeems GBTC Shares and Purchases 32K Bitcoins Using Funds’

Genesis has been granted permission by a New York bankruptcy court to sell approximately 36 million shares in GBTC, along with additional shares in two Grayscale Ethereum trusts. The estate’s lawyers valued the Grayscale shares at a total of .6 billion, with GBTC accounting for nearly .4 billion, Grayscale Ethereum Trust at 5 million, and Grayscale Ethereum Classic Trust at million. This development marks a significant opportunity for Genesis to liquidate these assets and potentially recoup a substantial amount of funds.