Osprey Bitcoin Trust eyes sale or merger with ETF to avoid liquidation | Headlines | News | CoinMarketCap
03/06/2024 00:46
Digital asset manager Osprey Funds announced that it may have to liquidate its bitcoin trust if it can't find an exchange-traded fund to rescue it. …
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Published on March 05, 2024 17:34 GMT+00:00edited on March 05, 2024 17:39 GMT+00:00
Digital asset manager Osprey Funds announced that it may have to liquidate its bitcoin trust if it can't find an exchange-traded fund to rescue it.
"The common units of fractional undivided beneficial interest of the [Osprey Bitcoin Trust] are trading at a discount to the value of bitcoin," the company said in a statement. Osprey Funds also stated that it "plans to consider a wide range of options, and is in various discussions about a potential sale of the trust to, or merger with, an existing bitcoin ETF."
If Osprey Funds is unsuccessful it said it will "liquidate and dissolve the trust within 180 days." The firm declined to comment further when asked what ETF providers the firm was in discussions with.
Osprey Funds exploring options with regards to its bitcoin trust comes at a …