Genesis Completes Redemption of GBTC Shares, Buys 32K Bitcoins with Proceeds

On Feb. 15, Genesis received permission from a New York bankruptcy court to sell the nearly 36 million shares in GBTC, as well as additional shares in two Grayscale Ethereum trusts. At the time of the application, lawyers for the estate valued the Grayscale shares at a collective $1.6 billion – nearly $1.4 billion in GBTC, $165 million in Grayscale Ethereum Trust, and $38 million in Grayscale Ethereum Classic Trust.