Hedge fund Fir Tree Capital Management has filed a lawsuit against crypto investment fund Grayscale Investments.
According to Bloomberg’s report, Fir Tree claimed that Grayscale investors were aggrieved and the company suffered from “hostile actions against shareholders.”
“In 2013, we launched the Grayscale Bitcoin Trust to give investors access to Bitcoin and convert it into an ETF,” a Grayscale spokesperson emailed The Block. The company additionally stated that it respects the views of shareholders and is willing to interact.
“We are 100% committed to converting GBTC into an ETF as we strongly believe this is the best long-term product for GBTC and its shareholders.”
Grayscale became a target when its sister company, Genesis, stopped withdrawals last month. Both companies are part of the Digital Currency Group (DCG), which has been struggling after the collapse of FTX.
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