Bitwise is making waves in the Bitcoin ETF space! đŻ
In a significant move, Bitwise Asset Management has announced its acquisition of the Osprey Bitcoin Trust (OBTC), bringing Ospreyâs $120 million in assets under the Bitwise Bitcoin ETF (BITB) umbrella. This strategic deal marks a major consolidation within the Bitcoin ETF sector, offering OBTC investors an exciting opportunity to join a growing and competitive market.
OBTC unitholders will soon receive BITB shares as part of this transition, benefiting from tighter Bitcoin price tracking and a lower management fee of 0.2%, compared to OBTCâs 0.49%. With BITB already managing $2.4 billion in assets, this acquisition positions it as the fifth-largest Bitcoin spot ETF in the U.S. đ
As the Bitcoin ETF market heats up, Bitwise continues to strengthen its foothold, competing with industry giants like BlackRock and Fidelity. The move not only enhances Bitwiseâs market presence but also aligns OBTC unitholders with a more efficient and cost-effective investment vehicle.
Stay tuned for more updates as this transition unfolds and watch how Bitwise's latest acquisition reshapes the Bitcoin ETF landscape!
#Bitcoinâ #Write2Earn! #ETF #CryptoNewss #BinanceSquareFamily $BTC
