📉 Bankrupt crypto company Genesis has asked a US court to allow the liquidation of assets worth about $1.6 billion, including Grayscale Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE) and Grayscale Ethereum Classic Trust (ETCG).

• Genesis emphasizes the urgency of selling assets ahead of possible price fluctuations in Bitcoin (BTC), Ethereum (ETH) and Ethereum Classic (ETC).

• The goal is to maximize funds to pay creditors.

• Following SEC approval on January 10, converting GBTC into an exchange traded fund (ETF) allows shares to be redeemed in cash.

• Since then there has been a significant outflow of investors who sold their GBTC shares.