Digital asset manager Osprey Funds accuses Grayscale of misleading users into thinking GBTC will be converted to ETF

According to The Block, digital asset management company Osprey Funds sued Grayscale (Grayscale) for misleading Bitcoin Trust (GBTC) advertisements, saying that Grayscale’s advertisements that GBTC will be converted into ETFs are “unfair and deceptive practices and unfair competition". Osprey Funds also claimed that, due to Grayscale’s false advertising, it charged more than four times as much asset management fees as it charged itself, yet was able to maintain about 99.5% of the market share.