Bitwise Bitcoin ETF Takes Over Osprey Bitcoin Trust in New Deal 🤝🏻
Bitwise Bitcoin ETF (#BITB ) is acquiring the assets of Osprey Bitcoin Trust (OBTC) as part of a strategic move by #Osprey Funds. OBTC unitholders will receive BITB shares in a liquidating distribution, while BITB holders will experience no changes.
This acquisition follows Bitwise’s recent purchase of the ETC Group, enhancing its position in the bitcoin #ETF market. BITB currently holds 4.69% of the total spot bitcoin ETF market share, with a daily trading volume of $55.95 million as of August 26, 2024.
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