Osprey Funds is the latest digital assets-focused investment manager vying to take over management of Grayscale’s bitcoin trust (GBTC) as public pressure against the troubled vehicle continues to mount.

Grayscale’s chief legal officer Craig Salm said on Jan. 12 that he does not expect the recent spate of events in the crypto space to impact its case against the SEC.

Grayscale’s Bitcoin Trust (GBTC) shares rose 12% on Jan. 9 to $9.65 and narrowed the discount to its net asset value to 38.55% — its largest one-day increase since February 2022, according to YCharts data.

The Grayscale Bitcoin Trust's (GBTC) early 2023 rally has outpaced that of its underlying bitcoin (BTC) holdings, thus significantly narrowing its discount to net asset value (NAV).

Shares in the troubled Grayscale Bitcoin Trust (GBTC) surged on Monday, narrowing its discount from Bitcoin.

Morgan Stanley, one of the world’s biggest investment bank with $6.5 trillion in assets under management, holds bitcoin on behalf of their fund customers.

Valkyrie Investments said it has a proposal for Digital Currency Group’s struggling Grayscale Bitcoin Trust and that it's ready to become a "sponsor and manager" of the fund.

Just two days after Grayscale Investments floated the option of a tender offer for shareholders of its flagship bitcoin trust (GBTC), Fir Tree Partners on Wednesday demanded additional information about how it would work. Fir Tree — a long-time TradFi hedge fund firm with a sizable GBTC position that has previously sued Grayscale — appears intent on ramping up public pressure against the crypto investment firm. The idea appears to be a bid to force a resolution to the trust’s longstanding trading discount to its underlying spot bitcoins. Representatives for Fir Tree called Grayscale CEO Michael Sonnenshein “non-committal” in a statement, urging the company to ramp up liquidity for investors in the near term. (Blockworks)

The exposure price via one of the biggest trusts on the market has dropped to a yet unseen low. The unimaginable 50% discount to NAV is a new record we have never before witnessed.

Grayscale Investments said the firm would explore new options to return a portion of the Grayscale Bitcoin Trust capital to shareholders if it fails to transform the world’s largest bitcoin fund into an exchange-traded fund.