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
Solana-based social graph protocol Tapestry raises $5.75 million in Series A funding
Tapestry raised $5.75 million in a Series A round co-led by Union Square Ventures and Fabric Ventures.Tapestry is a Solana-based social graph protocol designed to create an ecosystem of applications with social features.
The Daily: Trump 'receptive' to an 'America-first' crypto reserve, XRP hits new all-time high and more
President-elect Donald Trump is open to creating an “America-first” crypto reserve prioritizing U.S.-based coins like USDC, SOL and XRP, the New York Post reported, citing sources familiar with the matter.XRP hit a new all-time high of around $3.39 via major crypto exchanges on Thursday for the first time since January 2018, following a 16% surge in 24 hours and a 455% rise over the past quarter.A Litecoin ETF is the “most likely” next spot crypto ETF to be approved in the U.S., according to Bloomberg anal
Ripple CEO Says SEC's Opening Brief Is 'Definition of Insanity'
BTC breaks through $99,000
Trending news
MoreCrypto prices
More
