Investors Should Carefully Consider Risks Related To Osprey Bitcoin Trust (OBTC)

The Osprey Bitcoin Trust is intended to give investors exposure to Bitcoin in a form they can hold in their brokerage accounts or IRAs. The net asset value (NAV) of the Trust, which seeks to track the Coin Metrics CMBI Bitcoin Index, is published daily, on our website and on social media sites. The Trust’s shares (OBTC) are sold to accredited investors directly from the Trust, at NAV, in private placements. Shares purchased directly from the Trust are generally subject to a one year holding period.

By contrast, shares are sold in the secondary markets by investors and not by the Trust. Shares also may be purchased in the secondary market by retail investors, without accredited investor status, and without a required holding period. The Trust’s shares may trade in the secondary market at a premium or a discount to the Trust’s NAV. Neither the Trust, nor its sponsor, Osprey Funds controls the price at which shares trade in the secondary market.

OBTC shares began trading in the organized over-the-counter markets (OTC Markets) on Tuesday, February 16, 2021. During the first few days of trading on the OTC Markets, the shares sold at a significant premium to NAV, which has since come down significantly as of February 19, 2021. Please consider any premium or discount before buying or selling shares in the secondary market.

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We hope this helps in your understanding.

The Osprey Team