🌎 Osprey Bitcoin Trust Units Trading at a Discount to Bitcoin’s Value

Osprey Bitcoin Trust, a Delaware statutory trust, has recognized that its units are currently trading at a discount to the value of Bitcoin. The trust’s sponsor, Osprey Funds, LLC, is considering strategic options to enhance unitholder value, which may include a potential sale or merger with a Bitcoin ETF.

If these options are not successful, the sponsor plans to liquidate the trust within 180 days. In addition, the trust is planning to terminate the registration of its units under the Securities Exchange Act of 1934 by filing a Form 15 with the SEC. This will result in the suspension of its obligation to file specific reports, with deregistration expected to become effective 90 days after filing. While quoted on the OTCQX, the Trust will continue to adhere to its alternative reporting standard.

Osprey Bitcoin Trust emerged as a competitor to the larger GBTC fund managed by Grayscale, which recently transitioned into an ETF. Osprey has taken legal action against Grayscale, alleging deceptive claims regarding the certainty of its ETF conversion.