**🚨 Breaking News: 📊 Bloomberg analyst James Seyffart reveals that Genesis, a sister company of Grayscale and a significant GBTC holder, was the exclusive authorized participant (AP) for GBTC until the end of 2022. As an AP, Genesis facilitates the creation and redemption of fund shares, a process common among ETFs. Seyffart notes that by October 2022, Genesis would no longer be the sole AP for GBTC, differing from the usual practice of multiple APs, often large banks. 🔄📈 #Genesis #GBTC #CryptoETF