TechFlow news — Alameda Research, UTXO Management, and Balch & Bingham have launched GrayscaleLitigation.com, inviting shareholders of the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) to join as co-plaintiffs.
According to Grayscale, the case cannot proceed unless shareholders collectively holding at least 10% of the shares in both trusts file a lawsuit. Alameda said it has already received strong support from shareholder groups such as the Redeem GBTC campaign.
Alameda alleges that Grayscale has harmed shareholder interests by charging excessive management fees, amounting to billions of dollars, and that its refusal to allow redemptions violates the trust agreements. Alameda is urging more shareholders to join the litigation to collectively challenge Grayscale's actions and fight for the value and rights shareholders are entitled to.
