FTX Has Sold About $1 Billion of Grey Bitcoin ETFs
Sources have disclosed that FTX has sold off 22 million shares of grey GBTC stock, a large portion of which was an outflow of funds valued at close to $1 billion, and that FTX's ownership of GBTC is now down to zero. Analyses suggest that, in theory, FTX has completed its GBTC sell-off, and subsequent market selling pressure may be lessened, as bankruptcy liquidation is a relatively unique event.
According to previous news, FTX subsidiary Alameda Research has dropped its lawsuit against Grayscale.
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.
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