Osprey Funds is seeking a review of Judge Mark Gould’s decision that dismissed its unfair trade practice suit against Grayscale Investments, arguing that the ruling mixed deceptive advertising with securities transactions.
Osprey accused Grayscale of falsely advertising its Bitcoin fund, which impacted Osprey’s market share. The judge ruled that the claims were related to securities trading, exempting them from Connecticut’s Unfair Trade Practices Act.
In January 2024, the SEC approved Grayscale’s Bitcoin Trust conversion to an ETF. Osprey intends to convert its own Bitcoin Trust to an ETF, following the developments of its lawsuit.
Leave a Reply