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)

ChainCatcher news, Osprey Funds CEO Greg King stated in an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Friday that his company is the "best third party" to manage the trust.If appointed as the manager of GBTC, Osprey, which operates its own Bitcoin trust, would reduce the annual management fee of GBTC by about 75% to 0.49%. A DCG spokesperson did not immediately respond to a request for comment.Previously, the crypto asset management company Osprey Funds had laid off 15 employees and now has fewer than 10 remaining, including four executives. CEO Greg King stated in an email that the downturn in the crypto market led Osprey to make layoffs last summer and fall, but Osprey remains strong. As of January 6, Osprey Bitcoin Trust (OBTC) managed approximately $46.9 million in assets. (source link)