Valkyrie Proposes to Manage GBTC from Grayscale Bitcoin Magazine

Valkyrie Investments has submitted a proposal to take over the troubled bitcoin trust GBTC.

“We understand that Grayscale has played an important role in the development and growth of the bitcoin ecosystem with the launch of GBTC, and we respect the team and the work they have done,” said Valkyrie co-founder and CIO Steven McClurg. in a statement posted on the company’s website. “However, in light of recent events involving Grayscale and its family of affiliated companies, it is time for a change. Valkyrie is the best company to run GBTC and ensure its investors are treated fairly.”