Osprey Bitcoin Trust (OBTC) promoter Osprey Funds has entered into an agreement with the Bitwise Bitcoin ETF (BITB) and Bitwise Asset Management, in which BITB will acquire all assets of the OBTC Fund.
Previously, Osprey said in March that it was considering a sale or merger with a bitcoin ETF, among other strategic moves. Osprey must complete the sale or merger by September 1, 2024, or it will liquidate OBTC.
"As part of this transaction, OBTC share holders will receive BITB shares as part of the OBTC liquidation distribution," Osprey Funds wrote in a news release. "There will be no change to existing BITB holders' shares and no change to BITB's operations."
Bitwise Bitcoin ETF to acquire assets of Osprey Bitcoin Trust
2024-08-27 20:29:17
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