Tuesday, October 7, 2025

Latest

FTX Blamed For $1.0 Billion In GBTC Outflows

A substantial portion of Grayscale Bitcoin Trust (GBTC) outflows since the trust converted into an exchange-traded fund (ETF) earlier in January was FTX’s bankruptcy estate dumping GBTC in its holdings, according to a report by CoinDesk which cited private data and two people familiar with the matter.

As spot bitcoin ETFs began trading on January 11, and all other issuers, including BlackRock and Fidelity, were seeing inflows, GBTC saw over $2.9 billion in shares sold by its investors. According to CoinDesk, records suggest that FTX liquidated 22.28 million shares worth nearly $1 billion.

The move took advantage of the price disparity between Grayscale trust shares and the net asset value of underlying bitcoin, CoinDesk notes. By the end of the first day that the GBTC ETF traded on NYSE Arca, the value of FTX’s shares had risen from the $597 million declared on October 25 to roughly $900 million at $40.69 per share.

The publication also noted that on Monday, Alameda Research voluntarily dismissed a lawsuit against Grayscale over charging excessive fees.


Information for this story was found via CoinDesk, Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

The New York Times Slammed For Writing Another Sam Bankman-Fried “Puff” Piece

In a recent article titled “In the Bahamas, a Lingering Sympathy for Sam Bankman-Fried,” New...

Wednesday, December 28, 2022, 12:46:00 PM

SoftBank Shares Plunge As Vision Fund Reports More Losses Including $100 Million In FTX

SoftBank Group Corp (TYO: 9984) shares sank almost 13% on Monday after the company’s Vision...

Monday, November 14, 2022, 05:12:00 PM

Sam Bankman-Fried Wants Out Of Prison Because Internet Connection Is Terrible

The reliability of the internet within the federal jail system has become a pressing issue,...

Tuesday, September 12, 2023, 11:40:00 AM

Grayscale Challenges SEC Decision Denying Its Spot Bitcoin ETF

Grayscale Investments is taking the US Security and Exchange Commissions to court after the regulatory...

Friday, July 1, 2022, 01:33:00 PM

Another One Bites The [FTX] Dust: Yield App Announces Liquidation Following Insolvency

Yield App, a cryptocurrency investment platform, has commenced insolvent liquidation proceedings following significant financial losses...

Wednesday, July 3, 2024, 12:39:00 PM