GRAYSCALE
Grayscale was established in 2013 by Digital Currency Group. Grayscale is a trusted authority on digital currency investing which provides secure access and diversified exposure to the digital currency asset class.
GBTC Litigation: Fir Tree and Grayscale Reach Agreement
Fir Tree Partners, a significant shareholder of the Grayscale Bitcoin Trust (GBTC), and Grayscale Investments have reached an agreement resolving a lawsuit filed by Fir Tree in December 2022. The litigation sought documents and information from Grayscale about potential mismanagement and conflicts of interest at GBTC.
SEC Considers Filecoin a Security, Grayscale Disagrees
According to the SEC, Grayscale's Filecoin Trust's underlying asset, Filecoin (FIL), should be classified as a security under federal securities laws. The regulatory body's viewpoint has sparked a dispute, as Grayscale holds a differing opinion on the matter.
Grayscale Launches New Entity to Manage Growing Funds
Cryptocurrency asset manager Grayscale Investments has launched a new entity, the Grayscale Funds Trust, to manage its publicly traded financial products in-house. The company has also filed a registration statement for three new cryptocurrency-focused ETFs, including a Bitcoin Composite ETF, Ethereum Futures ETF, and a Privacy ETF.
Grayscale Files for Three New Crypto ETFs
Grayscale Investments has filed a registration statement with the SEC for three new cryptocurrency-focused ETFs, including a Bitcoin Composite ETF, Ethereum Futures ETF, and a Privacy ETF. Grayscale also announced the launch of its Grayscale Funds Trust to manage its publicly traded financial products in-house.
Grayscale CEO Calls on SEC to Protect Investors
Grayscale Investments’ CEO Michael Sonnenshein has called on the United States Securities and Exchange Commission (SEC) to protect Grayscale investors by returning the true asset value to them. Sonnenshein stated in a recent interview that the SEC acted arbitrarily by denying approval for the Grayscale Bitcoin Trust (GBTC) to be a spot Bitcoin exchange-traded fund (ETF) in June 2022, while approving Bitcoin Futures ETFs. He explained that the SEC violated the administrative procedures act, and that Grayscale is suing the SEC over the denial of its initial application. Grayscale has over a million investor accounts, and Sonnenshein called on the SEC to protect investors and return the value to them.
Grayscale CEO challenges SEC's denial of application
If GBTC becomes a spot BTC ETF, Grayscale Investments CEO Michael Sonnenshein stated investors will get a "few of billion dollars" back.
Digital Currency Group Sells Shares in Subsidiary's Crypto Funds
As the crypto empire struggles, Barry Silbert's Digital Currency Group has divested interests in Grayscale Investments funds.
Coindesk May Be Sold as Parent Company DCG Struggles
CoinDesk may sell. Digital Currency Group (DCG), its parent firm, looks to be struggling financially. DCG has received many bids over $200 million for the media group in recent months.
Grayscale withholds on-chain reserve evidence for security reasons
Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products. The company cited "security concerns" in a Nov. 18 Twitter thread addressing investor concerns. Pressure mounts for crypto firms to introduce proof of reserve after FTX's liquidity issues and subsequent bankruptcy.
Crypto Groups Mobilize Support for Grayscale Spot Bitcoin ETF Lawsuit Fight
The groups have faulted SEC’s decision to disapprove applications of spot Bitcoin ETFs, yet the regulator had allowed similar, riskier products to enter the market.