barrons.com
Investment management firm Osprey Funds on Monday sued Grayscale Investments, alleging that its competitor lied to investors in its Grayscale Bitcoin Trust about how likely it was that GBTC would be converted into an exchange-traded fund.
The trust (ticker: GBTC), with $14.6 billion in assets, is by far the largest Bitcoin fund. Unlike with ETFs, the fund’s shares can trade as a large discount or premium to the value of the Bitcoin it holds. As of Friday, GBTC shares traded for $12.36, a 41% discount to the value of its holdings.