Osprey Funds to seek SEC approval to convert Bitcoin trust into ETF
In a separate statement, Osprey said that the deal for Bitwise to acquire the Osprey Bitcoin Trust had been scuttled after failing to get the necessary regulatory approvals.
Investment management firm Osprey Funds has flagged a plan to convert its Osprey Bitcoin Trust (OBTC) into an exchange-traded fund (ETF) after the deal to be acquired by Bitwise was terminated.
In a Jan. 14 statement, the firm said it will file a Form S-1 containing a registration statement with the US Securities and Exchange Commission “as soon as practicable.”
OBTC was once a competitor to the much larger Grayscale Bitcoin Trust before GBTC eventually converted to a spot Bitcoin ETF in January 2024.
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Author: Stephen Katte
