Genesis risks selling Grayscale Bitcoin and Ethereum funds
Genesis, a subsidiary of Grayscale's parent company Digital Currency Group, has sought approval to sell its GBTC shares. Apart from this, altcoin trusts worth a total of about $200 million are also on the agenda. Grayscale Ethereum Trust (GETH) and Grayscale Ethereum Classic Trust (GETC) also want to sell their shares. In a motion filed Sunday in the U.S. Bankruptcy Court for the Southern District of New York, Genesis drew attention. Specifically, it seeks authorization to sell trust assets to maximize their value and pay their creditors. The company notes that trust assets are subject to significant price fluctuations and liquidity risk. He also claims that selling them now will prevent further losses.
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