{"id":10958,"date":"2025-04-11T11:02:29","date_gmt":"2025-04-11T09:02:29","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=10958"},"modified":"2025-04-11T11:02:29","modified_gmt":"2025-04-11T09:02:29","slug":"grayscale-and-osprey-resolve-24-month-standoff-over-bitcoin-etf-advocacy","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/04\/11\/grayscale-and-osprey-resolve-24-month-standoff-over-bitcoin-etf-advocacy\/","title":{"rendered":"Grayscale and Osprey Resolve 24-Month Standoff Over Bitcoin ETF Advocacy"},"content":{"rendered":"\n<div data-v-a9acf736=\"\">\n<p>Asset management companies Osprey Funds and Grayscale Investments have consented to resolve a lawsuit regarding purported breaches of Connecticut law in the marketing and promotion of Grayscale\u2019s Bitcoin exchange-traded fund (ETF).<\/p>\n<p><a data-ct-non-breakable=\"null\" href=\"https:\/\/appellateinquiry.jud.ct.gov\/CaseDetail.aspx?CRN=93308&amp;Type=CaseName\" rel=\"nofollow noopener\" target=\"_blank\" text=\"null\" title=\"https:\/\/appellateinquiry.jud.ct.gov\/CaseDetail.aspx?CRN=93308&amp;Type=CaseName\">As per<\/a> an April 9 court submission, the parties have opted to settle the two-year-long case and are currently finalizing the necessary documentation and terms of the settlement. The submission indicated that once these processes are concluded, Osprey will retract its appeal.<\/p>\n<p>\u201cShortly after this appeal was lodged, the parties arrived at a settlement of this matter,\u201d the motion expressed. \u201cIt is anticipated that all these tasks can be accomplished within 45 days, and it remains uncertain if a shorter extension would be adequate.\u201d<\/p>\n<p>The particulars of the settlement have not been disclosed to the public.<\/p>\n<p><template data-ct-widget=\"buzzsprout\" data-buzzsprout-podcast-id=\"2040516\" data-buzzsprout-episode-id=\"16622949\"\/><\/p>\n<h2>Grayscale and Osprey finalize settlement<\/h2>\n<p>The legal dispute between these two companies commenced on Jan. 30, 2023, when Osprey <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/osprey-sues-grayscale-alleging-unfair-ads-and-promos-for-etf-blocked-by-sec\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">initiated a lawsuit<\/a> in the Connecticut Superior Court. Osprey contended it was Grayscale\u2019s sole rival in the over-the-counter Bitcoin (<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">BTC<\/a>) trust market and accused Grayscale of retaining its market share through dishonesty.<\/p>\n<p>Osprey asserted that Grayscale marketed its Grayscale Bitcoin Trust (GBTC) as a method to access a spot Bitcoin ETF via a transformation. Osprey argued that the transformation was portrayed as a certainty, despite the regulatory ambiguity present at that time.<\/p>\n<p>Grayscale\u2019s petition to <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/grayscale-gbtc-inflows-record-bitcoin-exchange-traded-fund-etf\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">convert GBTC into a spot ETF<\/a> was sanctioned by the US Securities and Exchange Commission in January 2024.<\/p>\n<p>An August 2023 verdict compelled the SEC to reevaluate its denial of Grayscale\u2019s request to change the fund into an ETF.<\/p>\n<p>The SEC\u2019s endorsement permitted GBTC to shift into a spot ETF and commence trading on the NYSE Arca exchange.<\/p>\n<p><strong>Related: <\/strong><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/crypto-etp-shed-240-million-us-trade-tariffs-coinshares\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><strong>Crypto ETPs lost $240M last week due to US trade tariffs \u2014 CoinShares<\/strong><\/a><\/p>\n<h2>Settlement follows Osprey&#8217;s appeal<\/h2>\n<p>On Feb. 7, Judge Mark Gould ruled in favor of Grayscale, asserting that Osprey\u2019s allegations against the asset manager were exempt from the Connecticut Unfair Trade Practices Act.<\/p>\n<p>In response, Osprey filed a motion for reargument on Feb. 10. The fund argued that Gould\u2019s decision was made \u201cprior to the conclusion of discovery,\u201d which is the formal phase of evidence collection in a lawsuit.<\/p>\n<p>The fund maintained that the ruling failed to recognize the distinctions between how the Federal Trade Commission and Connecticut courts address misleading advertising.<\/p>\n<p>The settlement brought closure to one of the more significant legal confrontations among crypto asset managers vying for dominance in early ETF offerings. Grayscale\u2019s GBTC continues to be one of the largest Bitcoin investment instruments in the United States.<\/p>\n<p><iframe title=\"Adam Back on Trump Tariffs and Why This Is a Good Time to Buy Bitcoin\" width=\"814\" height=\"458\" src=\"https:\/\/www.youtube.com\/embed\/vT-fVbixtik?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><em><strong>Magazine: <\/strong><\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/magazine\/bitcoin-mine-soldiers-crypto-pickup-line-asia-express\/\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><em><strong>Illegal arcade masquerading as \u2026 a fake Bitcoin mine? Soldier scams in China: Asia Express<\/strong><\/em><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" label=\"Subscription Form: Markets Outlook\"\/>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/grayscale-osprey-lawsuit-connecticut-court-bitcoin-etf?utm_source=rss_feed&#038;utm_medium=rss_tag_regulation&#038;utm_campaign=rss_partner_inbound\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asset management companies Osprey Funds and Grayscale Investments have consented to resolve a lawsuit regarding purported breaches of Connecticut law in the marketing and promotion of Grayscale\u2019s Bitcoin exchange-traded fund (ETF). As per an April 9 court submission, the parties have opted to settle the two-year-long case and are currently finalizing the necessary documentation and<\/p>\n","protected":false},"author":3,"featured_media":10959,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[2088],"class_list":["post-10958","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy-and-markets","tag-return-a-list-of-comma-separated-tags-from-this-title-grayscale-and-osprey-end-2-year-legal-fight-over-bitcoin-etf-promotion"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Grayscale and Osprey Resolve 24-Month Standoff Over Bitcoin ETF Advocacy - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/04\/11\/grayscale-and-osprey-resolve-24-month-standoff-over-bitcoin-etf-advocacy\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grayscale and Osprey Resolve 24-Month Standoff Over Bitcoin ETF Advocacy - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"Asset management companies Osprey Funds and Grayscale Investments have consented to resolve a lawsuit regarding purported breaches of Connecticut law in the marketing and promotion of Grayscale\u2019s Bitcoin exchange-traded fund (ETF). 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