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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."
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."
STORY CONTINUES BELOW
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.
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
