Alameda Research Ltd., the hedge fund associated with bankrupt FTX, has voluntarily dismissed a lawsuit it had brought against Grayscale Investments. 

The firm had been seeking injunctive relief to "allow redemptions and reduce fees in Grayscale trusts" and unlock $9 billion or more in value for shareholders. John J. Ray lll, CEO of FTX, previously said the goal was to unlock value being "suppressed by Grayscale's self-dealing and improper regulation ban."

"We are pleased to confirm that Alameda Research, FTX's affiliated hedge fund, has voluntarily dismissed its lawsuit against Grayscale," a Grayscale spokeswoman said in a statement on Monday. "Alameda's voluntary dismissal underscores Grayscale’s position that this legal action was entirely without merit."

ETF conversion 

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