While FTX is keen on refunding the investors based on Nov. 2022 market prices, FTX creditors aim for an "in-kind” repayment structure that bases the repayments on the number of tokens, not their market prices.
Prices of claims on the crypto exchange FTX have increased ahead of a Jan. 25 estimation hearing, where creditors expect the ruling to favor their demand for “in kind” repayments in cryptocurrency.
FTX claims are now trading at almost 80 cents to the dollar, according to Cherokee Acquisition, an investment banking firm that specializes in bankruptcy claims and is providing liquidity on FTX claims.
According to a Bloomberg report, the FTX estate held 22.28 million shares (worth $902 million at the time) of the Grayscale Bitcoin Trust before Jan. 11, when the trust was converted into a spot exchange-traded fund (ETF).
