Osprey Bitcoin Belief, a Delaware statutory belief, has acknowledged that its models are buying and selling at a reduction to Bitcoin’s worth.
The belief’s sponsor, Osprey Funds, LLC, is exploring strategic choices to reinforce unitholder worth, together with a possible sale or merger with a Bitcoin ETF.
If unsuccessful, the sponsor plans to liquidate the belief inside 180 days. Moreover, the belief intends to terminate the registration of its models beneath the Securities Trade Act of 1934 by submitting a Type 15 with the SEC.
It will droop its obligation to file particular studies. The belief expects deregistration to change into efficient 90 days after submitting. Whereas quoted on the OTCQX, the Belief will adhere to its various reporting normal.
Osprey Bitcoin Belief emerged as a competitor to the bigger GBTC fund managed by Grayscale, which lately transitioned into an ETF. Osprey initiated legal action in opposition to Grayscale, alleging misleading claims concerning the knowledge of its ETF conversion.