Subject to closing conditions, the agreement will see Bitwise’s Bitcoin ETF scoop up all the Bitcoin from the Osprey Bitcoin Trust.
The Bitwise Bitcoin ETF (BITB) will soon be getting $120 million in Bitcoin after a plan to acquire the assets in the Osprey Bitcoin Trust (OBTC).
The deal, revealed in an Aug. 27 joint statement between Bitwise Asset Management and Osprey Funds, has seen the two enter into an Asset Purchase Agreement.
Part of the transaction will see OBTC unitholders receive shares of BITB as they liquidate their shares of OBTC. Subject to closing conditions, it is expected to close “later this year.”
