Grayscale first launched the DeFi Fund in July 2021 but restricted its trading to only privately-accredited investors. However, on Dec. 9, it <a href="https://www.globenewswire.com/news-release/2022/12/09/2571058/0/en/Grayscale-DeFi-Fund-Now-Trading-on-OTC-Markets.html?linkId=193018740">announced</a> that U.S.-based accredited investors can publicly buy and sell the DEFG Shares.

According to statistics sourced from data aggregator YCharts, seven digital currency funds issued by asset manager Grayscale Investments are currently at a discount of 34% to 69% to their net asset value, or NAV. Holdings tracked in the analysis include the Grayscale Bitcoin Trust; Ethereum Trust, Ethereum Classic Trust, Litecoin Trust, ZCash Trust, Horizen Trust, Stellar Lumens Trust, and Livepeer Trust.

The price of Grayscale Bitcoin Trust (GBTC) versus the bitcoin it actually holds hit an all time low on Wednesday, with the discount ratio reaching 47.3%, according to data from The Block.

New York-based hedge fund Fir Tree Capital Management has filed a lawsuit against digital asset manager Grayscale Investments over “potential mismanagement and conflicts of interest” at the firm’s flagship Bitcoin fund, according to a Bloomberg report.

Hedge fund Fir Tree is suing crypto investment firm Grayscale to obtain details about its flagship Grayscale Bitcoin Trust (GBTC), in order to investigate potential mismanagement and conflicts of interest, according to a report from Bloomberg.

Grayscale Bitcoin Trust premium rate recovers from -46% to -40% as Cathie Wood’s Ark Invest buying GBTC shares rebuilds confidence in the crypto market. Meanwhile, Binance allocates over $2 billion in BUSD to its Industry Recovery Initiative to help projects recover from liquidity issues following the collapse of crypto exchange FTX.

An independent analyst has confirmed that GBTC owns approximately 633,000 Bitcoin held by its custodian – Coinbase Custody. This comes as Grayscale, the asset manager running the world’s largest bitcoin fund, revealed that it won’t share its proof of reserves with customers.

Cathie Wood's ARK Investment Management bought another 176,945 shares ($1.46 million) in Grayscale's Bitcoin Trust (GBTC) on Monday as the crypto market slumped to a two-year low. The purchase comes as GBTC shares trade at a record 45% discount to net asset value (NAV) as negative sentiment continues to spread following the collapse of FTX.

Grayscale Investments, the world’s largest crypto asset manager, is facing backlash from the crypto community for not revealing its proof of reserves. Meanwhile, industry experts are blaming it on the regulatory landscape for the loss of trust around transparency in Grayscale’s Bitcoin products. Earlier in June this year, the U.S. Securities and Exchange Commission (SEC) rejected Grayscale’s spot Bitcoin ETF application. Following the rejection, the company challenged the SEC’s decision in the form of a lawsuit.

@ErgoBTC, AKA Ergo, a blockchain researcher with OXT Research, disclosed findings from a community-led effort to trace Grayscale’s Bitcoin Trust (GBTC) reserves in a Twitter thread yesterday.&nbsp;