CryptoOsprey seeks SEC nod for Bitcoin Trust ETF conversion

Osprey seeks SEC nod for Bitcoin Trust ETF conversion

-


Key Takeaways

  • Osprey Funds is seeking SEC approval to convert its Bitcoin Trust into an ETF.
  • The conversion would provide enhanced liquidity and fee reductions for investors.

Share this article

Osprey submitted a draft registration statement to the Securities and Exchange Commission to convert its Osprey Bitcoin Trust (OBTC) into an exchange-traded fund, the company announced today.

The move follows the termination of Osprey’s acquisition deal with Bitwise, which would have transferred OBTC’s assets to Bitwise’s ETF (BITB) but failed to secure regulatory approval.

OBTC, which currently tracks Bitcoin prices using the Coin Metrics CMBI Bitcoin Index, holds $181 million in assets under management as of January 2025.

While OBTC’s unit price has increased over the past year, it remains below its launch-time peak.

Greg King, CEO of Osprey Funds, views ETF conversion as the “surest path” forward for the company’s Bitcoin investment offerings.

The proposed conversion aims to provide enhanced liquidity, broader accessibility, and potential fee reductions through the ETF structure.

The development occurs while Osprey maintains an ongoing lawsuit against Grayscale, alleging misleading advertising regarding Grayscale’s trust-to-ETF conversion prospects.

Share this article



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

5 Unbelievable Ways Trump Is Unleashing Bitcoin’s Trillion-Dollar Bull Run (Opinion)

The reelected Republican president was once opposed to cryptocurrency, but now he’s one of Web3’s most ardent developers. That...

Hayden Davis launches WOLF coin despite Interpol notice

Hayden Davis, the alleged mastermind behind...

The Best RAM for Your PC (2025)

DDR4 vs DDR5There are currently two standards on the market, and there probably will continue to be for...

Advertisement

Trump’s Tariff-Free Trade, XRP Lawsuit Wrapping Up, and More — Week in Review

Trump proposes tariff-free trade for Canada, SEC vs Ripple: XRP lawsuit wrapping, Arthur Hayes predicts Bitcoin bottom at...

Must read

You might also likeRELATED
Recommended to you