The hedge fund, Fir Tree Capital Management and the digital asset management firm, Grayscale Investment have recently come to an agreement to settle a lawsuit that according to a recent report.
The lawsuit was filed by Fir Tree Capital Management in December in order to investigate potential mismanagement and conflicts of interest related to the $19.3 billion Grayscale Bitcoin Trust.
As part of the agreement announced on Tuesday, Grayscale has agreed to provide documentation regarding its flagship product GBTC while Fir Tree will drop the litigation against Grayscale.
GBTC is a way for investors to get involved with Bitcoin. It works like a special investment that represents ownership of Bitcoin. However, the trading price of GBTC often fluctuates in relation to its net asset value, resulting in premiums or discounts.
Fir Tree’s original complaint claimed that Grayscale’s actions were bad for the people who own GBTC and they wanted Grayscale to let people sell their GBTC if they wanted to.
Also Read: Grayscale & Bitwise Exit Ether ETF Plans Amid SEC Scrutiny
