Yigit Taha OZTURK 
Grayscale Investments and Osprey Funds have agreed to settle their lawsuit involving alleged violations in the promotion of Bitcoin ETF products. According to an April 9 filing with the Connecticut Appellate Court, both parties are finalizing the documentation and fulfilling the settlement terms. After that, Osprey will withdraw its appeal.
“Soon after this appeal was filed, the parties reached a settlement of this case,” the court filing stated. “It is expected that all these tasks can be done within 45 days.”
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The terms of the settlement have not been made public.
From Market Rivals to Courtroom Adversaries
Osprey accused Grayscale of misleading advertising by promoting its Grayscale Bitcoin Trust (GBTC) as if conversion to a spot ETF was guaranteed, despite regulatory uncertainty at the time.
“Grayscale’s messaging misled the market,” Osprey had claimed in its original lawsuit.
However, in January 2024, the SEC officially approved GBTC’s conversion into a spot ETF, and the product began trading on NYSE Arca.
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