Bitwise Asset Management announced its merger with Osprey Bitcoin Trust.
BITB has pulled in substantial inflows accounting for $2.4B in assets.
Bitwise Asset Management has announced its intention to acquire the Osprey Bitcoin Trust (OBTC) within the Bitcoin exchange-traded fund (ETF) market. This acquisition, revealed in a press release on Tuesday, will see Bitwise integrate Osprey’s $120 million in assets into its own Bitwise BTC ETF (BITB).
As part of the acquisition, OBTC holders will receive BITB shares through a liquidating distribution. Bitwise assured that current BITB holders will not see any changes to their shares or the fund’s operations due to the acquisition.
Osprey launched its BTC Trust in February 2021, after the Grayscale BTC Trust before it transitioned to an ETF. OBTC shares have historically traded at premiums or discounts leading to discrepancies from the actual BTC market price.
Recent data shows that OBTC shares have dropped by 4.27% over the
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