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International Business Times

Business

Nica Osorio

FTX's Billion-Dollar Exodus: Major Sell-Off Shakes Up Grayscale Bitcoin Trust ETF

Bitcoin FTX Grayscale Bitcoin Trust ETF GBTC

KEY POINTS

FTX reportedly offloaded 22 million GBTC shares
The sell-off was valued at around $1 billion
As of 5:02 p.m. ET on Monday, Bitcoin's trading price declined to $39,933.65

The estate of the bankrupt crypto exchange platform FTX has been identified as a primary driver behind the notable decline in the Grayscale Bitcoin Trust ETF's assets.

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