Summary
Osprey Bitcoin Trust (OBTC) may sell or merge with an existing bitcoin ETF. If talks are unsuccessful, they will liquidate and dissolve within 180 days. This decision comes after trading at a discount to Bitcoin value. Last January, they looked into managing Grayscale’s trust but ended up in a lawsuit against them. Grayscale was recently approved by the SEC to convert to an ETF.
Key Points
1. Osprey Bitcoin Trust (OBTC) is considering selling the Trust or merging with an existing bitcoin ETF.
2. If discussions for a potential sale or merger do not conclude positively, the Trust intends to liquidate and dissolve within 180 days from the announcement.
3. The decision to explore strategic alternatives was prompted by the Trust trading at a discount to the value of Bitcoin, leading to the filing of a Form 15 for deregistration with the SEC.