Bitwise Bitcoin ETF will acquire all assets of Osprey Bitcoin Trust

The initiator of Osprey Bitcoin Trust (OBTC), Osprey Funds, has reached an agreement with Bitwise Bitcoin ETF (BITB) and Bitwise Asset Management. BITB will acquire all assets of the OBTC fund. In March this year, Osprey stated that it was considering other strategic measures such as selling or merging with a Bitcoin ETF. Osprey must complete the sale or merger before September 1, 2024, otherwise it will liquidate OBTC. Osprey Funds stated in its announcement: "As part of this transaction, OBTC shareholders will receive BITB shares as part of the distribution from the liquidation of OBTC. For existing BITB holders, their shares will not change and there won't be any changes to BITB's operations." Before BITB acquired OBTC, Bitwise had already acquired ETP issuer ETC Group based in London on August 19th. Data shows that BITB's asset scale accounts for 4.69% of the spot market for Bitcoin ETFs.