Shareholders of Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) have filed a lawsuit against Grayscale. Their goal is to legally force Grayscale to allow redemption of the cryptocurrencies held in its trusts by customers and to repay the "excessive" management fees. One of the largest shareholders of GBTC and ETHE, Alameda Research, has filed a lawsuit against Grayscale, with numerous funds joining as plaintiffs. The complaint has been filed with the Delaware Chancery Court, alleging that Grayscale has violated "contracts and fiduciary obligations to Alameda and other trust investors." According to court documents, Grayscale has collected more than $1.3 billion in fees in just the past two years. The plaintiffs are seeking to recover these funds and renegotiate the fee structure of GBTC and ETHE to achieve "competitive rates."
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Grayscale Trust Shareholders Jointly Sue Grayscale for Recovery of Cryptocurrencies and Management Fees
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