With FTX's 5th distribution completed on July 31, 2026, many creditors are still waiting for future rounds. If you need liquidity now rather than waiting 6–12 months for the next payout, you can sell your FTX claim to a specialist buyer on the secondary market — at a discount. This guide explains exactly how the FTX claims market works, what your claim is worth today, and how to sell.
What Is the FTX Claims Secondary Market?
The FTX claims market is a private marketplace where creditors sell their right to receive future FTX bankruptcy distributions to specialist investors. These buyers — often hedge funds or litigation finance firms — pay a lump sum today in exchange for receiving whatever the estate eventually distributes on that claim.
This market exists because the bankruptcy process is slow. Creditors who filed claims in 2022 or 2023 may still be waiting for full payment into 2027. Some creditors prefer immediate, certain cash over uncertain future distributions. Buyers profit by acquiring claims at a discount and receiving full distributions later.
How Much Are FTX Claims Selling For?
Claim prices fluctuate based on the expected timeline and amount of remaining distributions. As of mid-2026:
- Customer property claims (Class 5B/6A): Generally trading near 90–99 cents on the dollar, reflecting the discount for waiting until the 6th distribution (expected early 2027) and any residual uncertainty.
- Smaller convenience claims: May attract slightly higher or lower bids depending on buyer appetite and claim documentation.
- Disputed claims: Significantly harder to sell, often not purchasable until the dispute is resolved.
If the estate is expected to distribute 100+ cents on the dollar (as it has done in earlier rounds), selling at 90–99 cents means you're effectively paying 1–10% for liquidity. That is the opportunity cost of selling rather than waiting. Only sell if you have a genuine need for immediate cash.
Step-by-Step: How to Sell Your FTX Claim
- 1Log in to the Kroll portal (restructuring.ra.kroll.com/FTX) and confirm your claim number, allowed amount, and current status. Buyers will ask for this information.
- 2Gather documentation: your FTX account email, claim number, Kroll portal screenshots showing claim amount and status, and any correspondence from the estate.
- 3Contact multiple buyers: Reach out to at least 2–3 claims trading firms (see below) to get competing bids. Never accept the first offer.
- 4Review the purchase agreement: Claims are sold via a formal legal agreement that transfers your rights to future distributions. Read it carefully. You are permanently selling your claim — you will receive no further payments from FTX once the sale closes.
- 5Complete the transfer at Kroll: After signing, the buyer will file a Notice of Transfer with the bankruptcy court through the Kroll portal. Once processed, the claim is in the buyer's name.
- 6Receive payment: Most buyers pay within 3–10 business days of transfer confirmation.
Which Companies Buy FTX Claims?
Several specialist firms operate in the FTX secondary market. When contacting them, provide your claim number and allowed amount to receive a quote:
| Buyer / Platform | Type | Notes |
|---|---|---|
| Xclaim (xclaim.io) | Marketplace / Auction | Lists your claim for multiple buyers to bid; transparent price discovery |
| Cherokee Acquisition | Direct buyer | Established bankruptcy claims purchaser; handles large and small claims |
| Claims Market (claimsmarket.com) | Marketplace | Post your claim and receive competing bids from institutional buyers |
Tip: Xclaim operates as an auction marketplace, which often produces higher prices because multiple buyers compete. If your claim is $5,000 or above, the auction format is usually worth the extra step.
What About Disputed FTX Claims?
If your Kroll portal shows "claim status: disputed," it means the FTX estate has filed an objection to your claim amount. Common reasons include:
- Discrepancies between what you claimed and FTX account records
- Claims filed for assets that were already moved off the platform before bankruptcy
- Duplicate claim filings
- Claims that include inflated or ineligible amounts
You should respond to the objection promptly via the Kroll portal. Secondary market buyers will generally not purchase disputed claims until the dispute is resolved, so addressing it first is essential before you can sell.
Important: If you believe the dispute is in error, you have the right to file a response with the bankruptcy court. The Kroll portal provides instructions for responding to claim objections. Consider consulting a bankruptcy attorney if your claim amount is significant.
Is Selling Your FTX Claim Worth It?
Whether selling makes sense depends on your personal situation:
- Sell if: You need cash now, the claim is small (legal fees could outweigh gains from waiting), or you're concerned about future distribution delays.
- Wait if: Your claim is large (every percentage point matters), you can afford to wait until early 2027, or the 6th distribution is near and the discount to face value exceeds your time preference.
The FTX estate has paid 100+ cents on the dollar in prior distributions, making waiting financially optimal for most creditors. Selling is a valid option when you genuinely need liquidity — just understand you'll receive 1–10% less than waiting for the full payout. Always get at least 2–3 competing bids before agreeing to any transfer.
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How much are FTX claims selling for?
FTX claim prices on the secondary market fluctuate based on market conditions and the remaining distribution timeline. With the 5th distribution completed at 100+ cents on the dollar, most remaining undistributed claims trade at a discount to face value to compensate buyers for the time value of waiting. Prices have generally ranged from 90 to 99 cents on the dollar for straightforward claims, depending on claim size, documentation, and estimated wait time to the next distribution.
Is selling my FTX claim a good idea?
Selling is a personal decision based on your liquidity needs and time preference. If you need funds now and would prefer a guaranteed lower amount over waiting potentially 6–12 months for the next distribution round, selling can make sense. However, if you can wait, the full distribution process has returned 100 cents or more on the dollar for most creditor classes, which exceeds typical secondary market prices.
What happens to my FTX claim if it is disputed?
A disputed FTX claim means the FTX estate has objected to all or part of your claim amount. You will receive notice through the Kroll portal and have the right to contest the dispute. Disputed claims are harder — sometimes impossible — to sell on the secondary market, and brokers will typically only purchase after the dispute is resolved. Log in to the Kroll portal immediately if you see a disputed status and follow the instructions to respond.
Which companies buy FTX claims?
Several specialist claims trading firms operate in the FTX secondary market. Well-known buyers include Cherokee Acquisition, Xclaim (xclaim.io), and Claims Market (claimsmarket.com). These platforms allow creditors to submit their claim details and receive bids from multiple buyers, so you can compare offers before deciding.
How long does it take to sell an FTX claim?
From initial contact to cash in hand, the process typically takes 2–4 weeks. Getting quotes takes 2–5 business days. Signing the purchase agreement and filing the transfer notice with the bankruptcy court takes another week. Most buyers release payment within 3–10 business days of the Kroll transfer being confirmed.