Fir Tree Capital Administration and crypto asset supervisor Grayscale Investments have reached an settlement to settle a lawsuit introduced in opposition to Grayscale by Fir Tree final 12 months.
In December, Fir Tree Capital Administration sued Grayscale in search of data to research doable mismanagement and conflicts of curiosity, in line with Delaware court docket paperwork.
Underneath the settlement introduced on Tuesday, Grayscale will file paperwork for the corporate’s flagship product GBTC.
The product is designed to offer publicity to bitcoins within the type of securities that usually commerce at a premium or low cost to web asset worth.
Fir Tree’s unique grievance alleged that grey buyers had been victimized by “shareholder-unfriendly conduct.” It additionally urged the corporate to permit GBTC redemptions.
Greyscale is anticipated to tender for the GBTC stake, the corporate stated. Grayscale should obtain shareholder approval for such a proposal.
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