Genesis looks to sell $1.3bn GBTC
Bankrupt lender Genesis wants to sell about $1.3 billion of Grayscale's bitcoin ETF GBTC.In a filing on Friday, Genesis' debtors requested to sell shares of GBTC. If the court grants the motion, then Genesis could also sell its shares in Grayscale's EtherTrust (ETHE) and EtherClassic Trust (ETCG).Genesis owns more than 35 million shares of GBTC, 8 million shares of ETHE, and nearly $3 million of ETCG.Based on GBTC's share price as of 30 Jan. nearly $1.4 billion could be gained from these sales. However, GBTC's price has fallen slightly, from a closing price of $38.50 at the end of January.
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