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BlockFi Softens Stance, Says It Could Accept GBTC As Collateral
BlockFi previously said it would cease accepting GBTC as loan collateral, the firm later walked back that statement.
Harshvardhan
9:35 12th Jul, 2022
Adoption

While BlockFi previously said it would cease accepting GBTC as loan collateral, the firm later walked back that statement. “Like any collateral, we constantly evaluate appropriate collateral haircut ratios and aim to accept as many types of collateral that our clients hold as possible”

A few hours after publication, a spokesperson for BlockFi told The Block the company had changed its position on accepting GBTC as collateral in the future, sharing the following statement:

“While we don't currently hold any positions in GBTC and are winding down a couple of loans where GBTC is part of the collateral package, we are not saying that we won't support GBTC as collateral moving forward. Like any collateral, we constantly evaluate appropriate collateral haircut ratios and aim to accept as many types of collateral that our clients hold as possible"

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