Troubled crypto lending firm Genesis has reportedly bought $2.1 billion worth of Bitcoin (BTC) after selling off approximately 36 million shares of the Grayscale Bitcoin Trust (GBTC). According to a Bloomberg Law report citing court documents filed on April 5, Genesis sold 36 million of its GBTC shares and used the proceeds to buy 32,041 Bitcoins, which it...
A crypto trader shared why he believes Grayscale Bitcoin Trust is seeing a mass sellout. Grayscale Bitcoin Trust (GBTC) has been observed selling off its Bitcoin (BTC) holdings, with recent reports indicating that the firm recently moved $1.3 billion of Bitcoin to Coinbase. Pseudonymous crypto trader Ash Crypto explained that he believes that market forces are the...
Grayscale’s Michael Sonnenshein backed the longevity of his firm’s spot Bitcoin ETF as it saw over $2.2 billion in outflows less a week after approval. Holding north of $25 billion in assets under management, Grayscale’s Bitcoin Trust (GBTC) ETF is the biggest spot Bitcoin exchange-traded fund of 11 funds authorized by the United States Securities and...
