Move puts OBTC one step closer to becoming a bitcoin ETF

TARRYTOWN, N.Y. — July 8, 2021 — Osprey Funds, LLC, a premier digital asset investment firm, today announced that it has filed a Form 10 Registration Statement with the Securities and Exchange Commission (“SEC”) on behalf of the Osprey Bitcoin Trust (OBTC).

Once effective, OBTC will become an SEC reporting company with its shares registered pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). This would make OBTC the second bitcoin investment vehicle in the U.S. to attain the status of an SEC reporting company — a key milestone in becoming a bitcoin ETF.

Along with the approval, accredited investors who own or purchase shares from the Trust’s private placement would have an earlier liquidity opportunity as the required holding period of shares purchased through the private placement will be reduced from 12 months to 6 months, provided the other requirements under Rule 144 of the Securities Act of 1933, as amended (the “Securities Act”) have been satisfied.

Furthermore, the Trust will file its quarterly and annual reports as well as audited financial statements as 10-Qs and 10-Ks with the SEC, along with current reports on Form 8-K, in addition to complying with all other obligations under the Exchange Act.

Form 10 was filed on July 8th. OBTC therefore will become an SEC “reporting company” automatically in 60 days, i.e., September 6, 2021. The holding period will be reduced from one year to six months, retroactively, 90 days later, on December 6, 2021 (December 5th is a Sunday). As of December 6, 2021, any shares purchased in a Rule 506 offering on or before June 5, 2021, are therefore eligible to become unrestricted.

OBTC is currently the lowest-priced publicly traded bitcoin fund in the U.S. with a management fee of just 0.49%. For more information, please refer to the Form 10 filing, or contact Osprey Funds at info@ospreyfunds.io.

About Osprey Funds

Osprey Funds is the premier boutique digital asset investment firm. Based in New York, Osprey offers secure, transparent and cost-effective access to select digital assets via traditional investment vehicles. Learn more by visiting https://ospreyfunds.io/.

Contacts:

Media inquiries:
Gregory FCA for Osprey Funds
Jill Fritz, 484-832-7034
osprey@gregoryfca.com

Investor inquiries:
Osprey Funds
IR@ospreyfunds.io