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Bitwise Bitcoin ETF to Acquire Assets of Osprey Bitcoin Trust

Bitwise Bitcoin ETF to Acquire Assets of Osprey Bitcoin Trust

Bitget2024/08/27 22:12

Osprey Funds, the sponsor of Osprey Bitcoin Trust (OBTC), has reached an agreement with 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 the company was considering a sale or merger with the Bitcoin ETF, among other strategic moves. Osprey must complete the sale or merger by September 1, 2024, otherwise it will liquidate OBTC. "As part of this transaction, OBTC unitholders will receive BITB shares as part of the OBTC liquidation distribution. For existing BITB holders, there will be no change to their shares and no change to BITB's operations," Osprey Funds wrote in a press release.

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