Can Genesis sell GBTC?

According to the Wednesday hearing, the bankrupt lender — through Chapter 11 — is able to decide how to sell the assets and can work with a broker to make decisions on the sales. Genesis filed a motion to sell around $1.3 billion of GBTC, as well as its shares in Grayscale’s Ethereum Trust (ETHE) and Grayscale’s Ethereum Classic Trust (ETCG).

How much money does Genesis hold in a Bitcoin Trust?

Genesis holds about 35 million shares in the bitcoin trust, worth about $1.38 billion, and ethereum trust shares worth about $207 million, according to court filings. It told the judge it needs to sell those shares to repay customers and avoid paying $1.9 million in monthly fees on its trust agreements.

Did Genesis Global sell $1.6 billion in grayscale cryptocurrency trust shares?

REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights NEW YORK, Feb 14 (Reuters) - Bankrupt crypto lender Genesis Global on Wednesday received permission from a U.S. court to sell about $1.6 billion in Grayscale cryptocurrency trust shares as part of its effort to repay creditors.