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Osprey Funds to seek SEC approval to convert Bitcoin trust into ETF

Osprey Funds seeks SEC approval to transform the Osprey Bitcoin Trust (OBTC) into an ETF. This initiative follows the termination of Bitwise Asset Management’s acquisition attempt due to unmet regulatory requirements. Osprey aims to file the necessary registration statement, indicating a proactive approach to navigating the evolving market.

The Osprey Bitcoin Trust currently reports assets totaling 181 million USD under management and closely follows Bitcoin’s price. Recently, OBTC’s unit price increased by 3% to 29.84 USD, reflecting significant gains over the past year, with over 151% growth compared to last year.

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