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Osprey Bitcoin Trust Looking for a Buyer or Possible Merger with Bitcoin ETF

The company said that if this process is unsuccessful, it "intends to liquidate and dissolve the Trust within 180 days from today."

By Ian Allison
AccessTimeIconMar 5, 2024 at 3:39 p.m. UTC
Updated Mar 8, 2024 at 10:40 p.m. UTC
An osprey (Jongsun Lee/Unsplash)
An osprey (Jongsun Lee/Unsplash)
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Osprey Bitcoin Trust, a closed-end bitcoin fund whose units are trading at a discount to its BTC holdings, said it's trying to sell itself to or merge with a bitcoin ETF, among other strategic alternatives.

In its statement Tuesday, the company said if this process is unsuccessful, it "intends to liquidate and dissolve the Trust within 180 days from today."

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    • Osprey Bitcoin Trust became well known as a fierce rival to Grayscale's much-larger GBTC fund, which this year converted into an ETF. Osprey went as far as filing a lawsuit against Grayscale claiming the latter had been deceptively claiming its ETF conversion was a foregone conclusion.

    Read more: Osprey's Bitcoin Trust Ups the Ante in Race to Displace GBTC

    Osprey did not immediately respond to requests for comment.

    Edited by Nick Baker.

    Disclosure

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Ian Allison
    Ian Allison

    Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

    Follow @IanAllison123 on Twitter

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