Bitwise Acquires Osprey’s Bitcoin Holdings for Trust Shares

The latest update is out from Bitwise Bitcoin ETF Trust (BITB).

The Bitwise Bitcoin ETF and Osprey Bitcoin Trust have reached an agreement where Osprey will sell its entire bitcoin holdings to Bitwise in exchange for shares in the Bitwise Trust. The bitcoin will be valued using the CME CF Bitcoin Reference Rate – New York Variant, while the share value will follow Bitwise Trust’s established procedures. The transaction, expected to finalize in Q4 2024, involves Osprey dissolving post-sale and distributing the received shares to its unitholders. This strategic move, subject to regulatory approvals, signals a significant realignment within the cryptocurrency investment space.

For a thorough assessment of BITB stock, go to TipRanks’ Stock Analysis page.