Osprey Funds, an investment management firm, has announced plans to convert its Osprey Bitcoin Trust (OBTC) into a spot Bitcoin exchange-traded fund (ETF) after the termination of its acquisition by Bitwise.
In a statement released on January 14, the firm stated that it will submit a registration statement with the US Securities and Exchange Commission (SEC) as soon as possible. CEO Greg King said that they are aiming to file the S1 form with the SEC before the end of January.
He also expressed the company’s commitment to providing investors with access to a Bitcoin ETF and sees this as the most viable option at this time. Previously, OBTC was a competitor to the larger Grayscale Bitcoin Trust, and the latter eventually converted to a spot Bitcoin ETF in January 2024.
The OBTC fund currently tracks the price of Bitcoin without physically holding the asset and currently has $181 million in assets under management (AUM).
