Bitcoin ETF Conversion Osprey Seeks SEC Approval

Osprey Seeks SEC Approval for Bitcoin Trust ETF Conversion

• Osprey Funds has submitted a draft registration statement to the SEC to convert its Bitcoin Trust (OBTC) into an ETF.
• The conversion aims to enhance liquidity and reduce fees for investors.
• OBTC currently tracks Bitcoin prices using the Coin Metrics CMBI Bitcoin Index.
• The trust holds $181 million in assets under management as of January 2025.
• The move follows a failed acquisition deal with Bitwise due to regulatory hurdles.

Osprey Funds, led by CEO Greg King, is pursuing an ETF conversion for its $181 million OBTC to improve investor access and cost efficiency. This follows an unsuccessful asset transfer attempt to Bitwise’s ETF.