Genesis Sells Grayscale Shares, Buys $2.17 Billion in Bitcoin for Customer Reimbursement
Submitted by Anonymous (not verified) on Sat, 04/06/2024 - 22:50

The company in February got permission from a New York bankruptcy court to sell approximately 36 million shares of Grayscale's Bitcoin Trust.
There were $836 million in net outflows between March 18 and March 21, the report said.

GBTC has seen $12 billion in outflows since due in part to its high fees compared to its competitors.
Asset manager Grayscale is reportedly pressing the US Securities and Exchange Commission (SEC) to approve options trading on the spot Bitcoin (BTC)

GBTC is expected to lose further funds to newly created ETFs unless there is a meaningful cut to its fees, the report said.


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