Bitwise acquires Osprey Bitcoin Trust (OBTC) to become the fifth largest Bitcoin ETF provider in the US
Acquiring Company
Bitwise Asset Management
Acquired Company
Osprey Funds
Description
Bitwise, the fifth-largest Bitcoin spot ETF in the US, has completed the acquisition of Osprey Bitcoin Trust (OBTC). As a result of this transaction, OBTC unitholders will receive shares of Bitwise Bitcoin ETF (BITB), and there will be no changes for existing BITB shareholders. This strategic acquisition offers OBTC unitholders the opportunity to benefit from the scale and expertise of Bitwise, while bringing the price of Bitcoin closer to that of the Bitwise ETF.
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Frequently asked
Who acquired Osprey Funds?
Osprey Funds was acquired by Bitwise Asset Management, based in San Francisco. The deal was reported on August 28, 2024. Bitwise Asset Management is the largest crypto index fund manager in America with a six-year track record of investment excellence, industry-leading education, and a broad suite of professional investment products. Bitwise Asset Management is privately held and operates in Other.
When did Bitwise Asset Management acquire Osprey Funds?
Bitwise Asset Management's acquisition of Osprey Funds was reported on August 28, 2024. Bitwise, the fifth-largest Bitcoin spot ETF in the US, has completed the acquisition of Osprey Bitcoin Trust (OBTC). Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Osprey Funds do?
Osprey Bitcoin Trust (OBTC) is a smaller competitor holding $120 million in assets. It had operated its Bitcoin Trust product since February 2021 and was offering a Bitcoin ETF with a management fee of 0.49% before being acquired by Bitwise. It is privately held, operating in Financial Services, and is based in Fairfield.
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