Osprey Funds Wants to Convert its Bitcoin Trust into a Spot ETF
Investment firm Osprey Funds intends to change their Osprey Bitcoin Trust (OBTC) into a spot Bitcoin exchange-traded fund (ETF) following the termination of their previous agreement with Bitwise.
In a statement on January 14, the company stated that they plan to file a Form S-1 with the US Securities and Exchange Commission in the near future.
CEO Greg King stated that they are dedicated to providing investors with a Bitcoin ETF and anticipate that the S-1 form will be filed before the end of the month.
OBTC, which currently has assets worth $181 million under management, was previously a competitor of Grayscale Bitcoin Trust but was overtaken when GBTC became a spot Bitcoin ETF in January 2024.
According to the description of OBTC, the fund presently tracks the price of Bitcoin without holding the actual asset.
