Genesis recently acquired 32,041 Bitcoins after selling nearly 36 million shares of Grayscale Bitcoin Trust. Records show that the sale of GBTC shares was completed on April 2, according to Bloomberg Law.
In February 2023, a New York bankruptcy court granted Genesis permission to sell shares in GBTC, as well as shares in Grayscale Ethereum trusts and Grayscale Ethereum Classic Trust.
At the time, the value of the GBTC shares was approximately $1.4 billion, Grayscale Ethereum Trust shares were valued at $165 million, and Grayscale Ethereum Classic Trust shares were valued at $38 million.
This acquisition of Bitcoins was made possible by the bankruptcy filing of Genesis in January 2023.
