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Warning: $1.4 Billion GBTC Selling Incoming?

Lark Davis February 6, 2024
GBTC

GM everyone,

Crypto recently has been revolving more than usual around legal goings-on and TradFi complexities.

So, let’s start with a look at what’s happening at Genesis, especially regarding possible plans to offload its substantial GBTC share holdings.

Here's what's in today's issue:

  • Sam shares his thoughts on Genesis selling $1.4 billion of GBTC, FTX selling Anthropic stake, Facebook and Instagram allowing BTC ETF ads, US BTC miners reporting to EIA & Apple’s Vision Pro.
  • This week on chain.
  • This week's trending coins by Rebecca.
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Genesis to Sell $1.4 Billion of GBTC Shares?

Analysis of the newly launched spot BTC ETFs has, up to now, focused a lot on the effect of heavy GBTC selling, which has undoubtedly affected early performance. Last week, this selling appeared to be starting to ease off, but is Genesis about to unleash further GBTC outflows?

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