Hedge fund Fir Tree decided to sue Grayscale to investigate possible mismanagement and conflicts of interest over access to details of its flagship Grayscale Bitcoin Trust (GBTC)
Furthermore, Fir Tree intends to use the information to resolve the massive discount relative to Bitcoin by reducing fees to Grayscale and resuming redemptions.
A Grayscale spokesperson pointed that the company’s mission is to help investors access the ever-evolving crypto ecosystem through familiar, secure, and transparent investment vehicles. We respect the views of our shareholders, and appreciate engaging directly with them on the details of our product structures and operating model.”
The spokesperson said that Grayscale is 100% committed to converting GBTC to an ETF, and strongly believes this is the best long-term product structure for GBTC and its shareholders.
Also read: Grayscale refuses to provide On-chain Proof of Reserves
