GrayScale is being sued by competitor Osprey Funds for false advertising regarding Bitcoin trusts

ChainCatcher news, a document submitted to the Connecticut court on January 30 shows that digital asset management company Grayscale is facing a lawsuit from much smaller competitor Osprey Funds. According to Osprey, Grayscale is accused of false advertising and misleading promises that it could convert its GBTC into a Bitcoin spot exchange-traded fund (ETF).

Osprey accuses Grayscale of making "false and misleading" statements, which allegedly constitute unfair competition. A female spokesperson for Grayscale stated in an email that the lawsuit is "meritless." (The Block)