Osprey Funds Applies to U.S. SEC for Bitcoin Spot ETF Conversion

YM Lee

Summary

Osprey Funds announced that it has submitted an application to the SEC to convert its Bitcoin fund into a spot ETF.
An S-1 registration statement has been submitted for the fund product conversion, and they aim to complete the conversion as quickly as possible.
The asset acquisition deal with Bitwise Asset Management fell through due to regulatory approval issues.

Investment management firm Osprey Funds has submitted an application to the U.S. Securities and Exchange Commission (SEC) to convert its Bitcoin fund product into a spot Exchange-Traded Fund (ETF).

According to a report by Cointelegraph on the 15th (local time), Osprey Funds stated, "We will submit an S-1 registration statement to the U.S. Securities and Exchange Commission to convert the fund product into a spot ETF as quickly as possible."

Osprey Funds' Bitcoin fund product OBTC pursued an asset acquisition deal with Bitwise Asset Management, but the deal fell through due to regulatory approval issues.

BTC