(Bloomberg) -- Prices of claims on bankrupt crypto exchange FTX Group have soared as it moves closer to returning billions of dollars to customers and creditors, buoyed by a rally in digital assets. 

FTX claims now trade at 57 cents to 73 cents on the dollar, depending on their size, according to data from Cherokee Acquisition, which brokers bankruptcy claims. That’s up from 50 cents to 53 cents in late October. 

A key trigger for the advance was the Oct. 16 update from FTX’s bankruptcy managers, which indicated that FTX.com and FTX US customers would collectively receive “over 90% of distributable value worldwide” if an amended plan is approved, according to Bradley Max, a director at Cherokee. Before that, claims were trading at around 40 cents. 

It’s still unclear when distributions will be made or how much creditors will ultimately receive, Max said. 

FTX unraveled in November last year, undone by an almost $7 billion hole in its balance sheet. Founder Sam Bankman-Fried was found guilty of a massive fraud in November and is awaiting sentencing. Claims on the exchange traded as low as around 10 cents on the dollar immediately after the bankruptcy, Claims Market data show. 

Other factors have helped drive the increase in claim prices, including FTX’s stake in artificial-intelligence startup Anthropic, which is backed by investors including Google and Amazon.com Inc. FTX was also a large holder of the token Solana, which has rallied more than 650% this year. Solana is trading at more than double its price just before FTX went bankrupt. 

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