U.S. Judge: FTX Debtors Can Start Selling Trsut Assets

Reported by The Block, a Delaware bankruptcy court said Wednesday that FTX Trading and affiliated debtors can start selling trust assets that include interests in Grayscale and Bitwise funds worth $744 million.

Judge John Dorsey granted a motion filed in early November that sought permission to begin selling units in six crypto funds including Grayscale Bitcoin Trust, Grayscale Ethereum Trust, Bitwise 10 Crypto Index Fund, Grayscale Ethereum Classic Trust, Grayscale Litecoin Trust and Grayscale Digital Large Cap Trust.

Grayscale's flagship bitcoin fund GBTC accounts for the largest portion of the assets, with nearly 22.3 million units worth $597 million. Grayscale's Ethereum Trust came in second place, with 6.3 million units worth $87 million.

FTX bankruptcy claims have been trading at 60 to 65 cents on a dollar recently, with the price rising as asset recovery appeared to get closer.