đ Bitwise Bitcoin ETF (BITB) to Receive $120 Million in BTC After Acquiring Assets from Osprey Bitcoin Trust (OBTC)!
đ OBTC unitholders will receive BITB shares upon liquidation of OBTC shares. Expected to close later this year.
đ OBTC used to compete with Grayscale Bitcoin Trust, but Grayscale has since converted it into a spot Bitcoin ETF.
đŹ Osprey Funds CEO Greg King: "This is the best solution for everyone."
đ OBTC currently has $120.7 million in assets under management, with a 3-year return of 9.5%, compared to BTC's 23.5%.
đĄ Bitwise BITB has a lower management fee (0.20%) and trades close to NAV.
đ What do you think of this deal? Share your thoughts! đŹ#Bitcoin#CryptoNews#Blockchain#Finance#Tech#BTC