Share this article
DCG Is Selling Holdings in Several Grayscale Trusts: Financial Times
Grayscale operates the Grayscale Bitcoin Trust (GBTC), which has $10 billion-plus in assets under management.
By Amitoj Singh
Updated May 9, 2023, 4:07 a.m. Published Feb 7, 2023, 7:26 a.m.
Make us preferred on Google
Digital Currency Group (DCG) has started selling holdings in several investment vehicles run by its subsidiary and digital assets manager Grayscale at a steep discount, according to a Financial Times report citing U.S. securities filings.
Grayscale operates the Grayscale Bitcoin Trust (GBTC), which has $10 billion-plus in assets under management and was late last year trading at a record discount to net asset value, although that discount has fluctuated recently. Grayscale, Genesis and CoinDesk share the same parent company in DCG.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
On Jan. 20 this year, Genesis Global Holdco LLC, the holding company of cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection in New York after being hit by the crypto contagion of 2022, which was exacerbated by the implosions of hedge fund Three Arrows Capital and crypto exchange FTX.
On Monday, CoinDesk reported that DCG and Genesis reached an agreement with a key group of creditors intending to sell its subsidiary Genesis' crypto trading business as well as its lending arm, which is restructuring through bankruptcy.
According to the FT report citing filings, DCG's recent share sales have focused on the Ethereum fund, where the group has moved to sell about a quarter of its stock to raise as much as $22 million in several trades since Jan. 24. The company is selling at about $8 per share, despite each share's claim to $16 of ether.
"This is simply part of our ongoing portfolio rebalancing," DCG told CoinDesk.
Grayscale did not respond to a CoinDesk request for comment.
A Bernstein report had earlier said saving Grayscale would come at a cost for DCG.
Read More: DCG Creditor Pact Revealed With Plan to Sell Genesis Trading Unit as Part of Bankruptcy
UPDATE (Feb. 7, 12:42 UTC): Rewrites headline to reflect sales of trusts, adds DCG comment.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
