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Grayscale boss Michael Sonnenshein says firm may explore tender if bitcoin ETF fails
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fnlondon.comGrayscale Investments said the firm would explore new options to return a portion of the Grayscale Bitcoin Trust's capital to shareholders if it fails to transform the world’s largest bitcoin fund into an exchange-traded fund.
These options could include a tender offer for up to 20% of the outstanding shares of the $10.7bn trust, Grayscale Chief Executive Michael Sonnenshein said in a letter to investors viewed by The Wall Street Journal. A tender offer would make a direct appeal to shareholders to sell — or tender — their...
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