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Lawsuit puts pressure on Grayscale to open GBTC books

Fir Tree hedge fund has filed a lawsuit seeking documents from the Grayscale Bitcoin Trust, alleging mismanagement and conflicts of interest.

Grayscale Bitcoin Trust and its ties to crypto meltdowns

The Grayscale Bitcoin Trust (GBTC) provides a way for investors to gain exposure to bitcoin, without having to own bitcoin.

With the fallout from FTX’s collapse still being felt, there are signs that, for crypto markets, things may get worse before they get better.

Usually trading way above bitcoin’s spot price since 2015, Grayscale’s Bitcoin Trust is currently at a -35% discount to its Net Asset Value.