DCG Cleared to Sell $1.3BN in GBTC (Patreon)

TLDR - expect some BTC price volatility. This is 25000 BTC.  It takes The 9 new ETFs 2 days to absorb that bag. 

1. Approval for Liquidation: Genesis Global Holdco LLC received approval from Judge Sean Lane to liquidate its GBTC (Grayscale Bitcoin Trust) investments, valued at approximately $1.3 billion, alongside its holdings in other Grayscale funds such as the Ethereum Classic Trust.
2. Structured Liquidation Plan: The sale of the GBTC shares, which can be converted into fiat or bitcoin (BTC), must be conducted gradually and in coordination with a brokerage firm, following a structured plan laid out by Judge Lane.
3. Market Impact Concerns: The crypto community is concerned about the potential market impact of Genesis's sell-off of its GBTC shares, especially after GBTC experienced significant withdrawals amounting to 153,604.56 BTC (equivalent to $7.9 billion) since January 12, highlighting the magnitude of assets being moved.