Posted 11/30/2023, 1:03:19 AM
FTX Advisors Get Green Light to Sell $873M in Grayscale and Bitwise Crypto Trust Assets to Repay Creditors
- FTX advisors got court approval to sell $873M in assets held by Grayscale and Bitwise trusts
- Assets include shares in GBTC, ETHE, ETCG, LTCN, GDLC trusts and the Bitwise 10 Crypto Index
- Sale will recover funds to repay FTX creditors and customers
- Grayscale trusts allow exposure to crypto without taking custody
- Grayscale intends to convert its Bitcoin Trust into a Bitcoin ETF, pending SEC approval