Osprey Funds and Bitwise Asset Management Announce the Bitwise Bitcoin ETF to Acquire the Assets of the Osprey Bitcoin Trust
Osprey Funds and Bitwise Asset Management Announce the Bitwise Bitcoin ETF to Acquire the Assets of the Osprey Bitcoin Trust
08/27/24, 12:05 PM
Location
fairfieldIndustry
lending
finance
financial services
Type
partnership
Osprey Funds, LLC and Bitwise Asset Management have jointly announced the entry into an Asset Purchase Agreement, in which the Bitwise Bitcoin ETF will acquire the assets of the Osprey Bitcoin Trust. The transaction is intended to provide OBTC unitholders with a seamless transition to equivalently valued exposure to Bitcoin via BITB.
Company Info
Location
fairfield, connecticut, united states
Additional Info
Osprey Bitcoin Trust (OBTC) is a smaller competitor holding $120 million in assets. It had operated its Bitcoin Trust product since February 2021 and was offering a Bitcoin ETF with a management fee of 0.49% before being acquired by Bitwise.