FTX is willing to refund investors based on November 2022 market prices, however, its creditors are pushing for an "in-kind” repayment model, where repayments are determined by the number of tokens, rather than their market value.

Ahead of a January 25 estimation hearing, the prices of claims on crypto exchange FTX have escalated, with creditors expecting a favorable ruling regarding their demand for “in-kind” repayments in cryptocurrency.

FTX claims are currently trading around 80 cents to the dollar, states investment banking firm Cherokee Acquisition, which specialises in bankruptcy claims and provides liquidity for FTX claims.

A Bloomberg report reveals that prior to January 11, the FTX estate held 22.28 million shares of the Grayscale Bitcoin Trust, valued at $902 million at the time, before the conversion of the trust into a spot exchange-traded fund (ETF).