Osprey Funds Withdraws Bitcoin Trust ETF Conversion Bid

Osprey Funds has announced it will no longer pursue SEC approval to convert its Bitcoin trust into an exchange-traded fund (ETF). This decision follows the termination of a previously announced acquisition agreement with Bitwise Asset Management. The deal, which aimed to facilitate the ETF conversion, ultimately failed to secure the necessary regulatory clearances. While Osprey remains committed to the Bitcoin market, this strategic shift reflects a recalibration of their approach to navigating the evolving regulatory landscape. The company has not yet disclosed future plans regarding its Bitcoin trust but assures investors of its ongoing commitment to transparency and responsible asset management. This development marks a significant setback for those hoping for an easier pathway to Bitcoin ETF accessibility.