Osprey Bitcoin Trust Seeks Merger or Sale to Avoid Liquidation

The trust is exploring strategic alternatives, including a merger with an existing bitcoin ETF, as its units trade at a discount to Bitcoin's value.

Osprey Bitcoin Trust (OBTC) is considering a sale or merger with an existing bitcoin ETF to prevent liquidation.
The trust's units are trading at a discount to the value of Bitcoin, prompting the search for strategic alternatives.
If unsuccessful in finding a merger or sale, the trust plans to liquidate and dissolve within 180 days.
Previously, OBTC was a competitor to Grayscale's bitcoin trust, which has since converted into an ETF.
Osprey had filed a lawsuit against Grayscale, accusing it of misleading investors and engaging in unfair competition.