Summary
Genesis received permission to sell 36 million shares in GBTC and shares in two Grayscale Ethereum trusts worth a total of $1.6 billion from a New York bankruptcy court.
Key Points
1. Genesis received permission from a New York bankruptcy court to sell nearly 36 million shares in GBTC, as well as additional shares in two Grayscale Ethereum trusts.
2. The Grayscale shares were valued at a collective $1.6 billion, with nearly $1.4 billion in GBTC, $165 million in Grayscale Ethereum Trust, and $38 million in Grayscale Ethereum Classic Trust.
3. This sale was approved by the court on Feb. 15, allowing Genesis to liquidate these assets as part of the bankruptcy proceedings.