Crypto lending platform BlockFi will no longer accept GBTC as collateral, according to a report in The Block, and has greatly scaled back from any Grayscale Bitcoin Trust (GBTC)-related positions.
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BlockFi plans to make an official announcement regarding GBTC later this week, according to the story.
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Responding to a tweet on Monday from CoinShare’s Meltem Demirors – who claimed BlockFi still holds “a ton of GBTC” on its balance sheet – BlockFi CEO Zac Prince said his company “directly holds zero GBTC.” He added that there remains a couple of small loans with GBTC as collateral that BlockFi is in the process of winding down.
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Grayscale, the manager of GBTC, is owned by Digital Currency Group, which is also a parent company of CoinDesk.
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The Block’s story was confirmed to CoinDesk by a BlockFi representative.
