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OSPREY BITCOIN TR UBI - OBTC STOCK NEWS

Welcome to our dedicated page for OSPREY BITCOIN TR UBI news (Ticker: OBTC), a resource for investors and traders seeking the latest updates and insights on OSPREY BITCOIN TR UBI stock.

Osprey Bitcoin Trust (OTCQX: OBTC) is a Delaware statutory trust offering investors a straightforward way to invest in Bitcoin. The primary business objective of Osprey Bitcoin Trust is to track the performance of Bitcoin itself, minus its expenses and other liabilities. As its core business, Osprey Bitcoin Trust provides a reliable and efficient avenue for both retail and institutional investors to gain exposure to Bitcoin without the challenges associated with direct Bitcoin ownership, such as custody and security risks.

Recently, Osprey Bitcoin Trust announced a significant corporate action aimed at providing liquidity to its investors. The Trust is offering to purchase for cash up to 20% or 1,668,107 outstanding common units of fractional undivided beneficial interest at a purchase price equivalent to their net asset value (NAV). The tender offer is part of Osprey's commitment to ensuring the interests of its investors are met and providing an exit strategy for those who wish to liquidate their holdings. This move is particularly important given the Trust's historical trading at an average discount to NAV of 25% over the past year, and the limited liquidity on the OTCQX market.

The Trust simplifies the Bitcoin investment process, eliminating technical challenges while retaining the potential for high returns associated with Bitcoin investments. Osprey Bitcoin Trust is sponsored by Osprey Funds, LLC, a financial services company specializing in digital asset management. Osprey Funds provides critical support to the Trust, including handling all administrative and regulatory matters, ensuring that the Trust operates smoothly and complies with all relevant laws.

Osprey Bitcoin Trust continues to strengthen its position within the market through strategic initiatives like the aforementioned tender offer. The offer is not conditional upon any minimum number of shares being tendered, but it is subject to other conditions detailed in the Offer to Purchase documents. The Trust reserves the right to extend the offer period or terminate the offer under specific circumstances, as outlined in the tender documentation.

For investors, participating in the tender offer involves submitting a properly completed Letter of Transmittal to the Trust's transfer agent, Continental Stock Transfer and Trust Company (CSTT). Investors holding units through brokers or other nominees must coordinate through those institutions. The tender of units under the offer is treated as a taxable sale for U.S. federal income tax purposes, and investors are advised to consult their tax advisors for detailed tax implications.

Osprey Bitcoin Trust remains committed to providing transparent, accessible, and efficient Bitcoin investment solutions. With ongoing efforts to enhance investor experience and improve liquidity, the Trust is positioned as a prominent player in the digital asset investment space.

Rhea-AI Summary

Osprey Funds and Bitwise Asset Management have announced that the Bitwise Bitcoin ETF (BITB) will acquire the assets of the Osprey Bitcoin Trust (OBTC). As part of this transaction, OBTC unitholders will receive BITB shares in a liquidating distribution. The deal is intended to be tax-free for OBTC unitholders and provide a seamless transition to equivalently valued bitcoin exposure via BITB. This move follows Osprey's exploration of strategic alternatives to enhance unitholder value. The transaction is subject to customary closing conditions and is expected to close later this year. Further details will be disclosed in an upcoming SEC filing. Investors are cautioned that BITB carries high risk and potential for significant volatility.

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Osprey Bitcoin Trust (OBTC) announces exploration of strategic alternatives to enhance unitholder value due to Units trading at a discount to Bitcoin's value.
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Osprey Bitcoin Trust (OTCQX: OBTC) has terminated the previously announced tender offer to purchase up to 20% of outstanding common units at net asset value due to regulatory concerns. The SEC indicated that the pricing structure did not comply with Rule 13e-4, leading to the termination. The Trust's investment objective is to reflect the performance of Bitcoin, and it does not engage in activities designed to obtain a profit from market price changes. As a result of the termination, no units will be purchased, and previously tendered units will be returned to unitholders.
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Osprey Bitcoin Trust (OTCQX: OBTC) announced a tender offer to purchase up to 20% or 1,668,107 outstanding common units of fractional undivided beneficial interest at their net asset value less applicable taxes and fees. The offer is not conditioned upon any minimum number of shares being tendered and expires on February 9, 2024. The purpose of the offer is to provide liquidity to investors who hold units, with the trust trading at an average discount to NAV of 25% over the past year.
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OTC Markets Group Inc (OTCM) announced the commencement of trading for the Osprey Bitcoin Trust (OBTC) on the OTCQX Best Market. OBTC is recognized as the lowest-priced publicly traded bitcoin fund globally, launched by Osprey Funds, LLC. The OTCQX Market is designed for investor-focused companies meeting high financial and governance standards, enhancing visibility for OBTC among U.S. investors. According to Greg King, CEO of Osprey Funds, this launch increases accessibility for investors across more trading platforms.

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Osprey Funds has launched its inaugural offering, The Osprey Bitcoin Trust (OBTC), now publicly trading on the OTC market. This fund aims to track the CMBI Bitcoin Index, providing U.S. investors low-cost access to digital assets with an annual management fee of just 0.49%, the lowest in its category. CEO Greg King emphasized bitcoin's potential for long-term appreciation and portfolio diversification. OBTC's management team has extensive experience in the financial sector, while trusted service providers like Fidelity and Grant Thornton support the fund.

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FAQ

What is the current stock price of OSPREY BITCOIN TR UBI (OBTC)?

The current stock price of OSPREY BITCOIN TR UBI (OBTC) is $29.26 as of January 10, 2025.

What is Osprey Bitcoin Trust?

Osprey Bitcoin Trust is a Delaware statutory trust that provides investors with an easy way to invest in Bitcoin, tracking its performance minus expenses and liabilities.

What recent corporate action did Osprey Bitcoin Trust announce?

Osprey Bitcoin Trust announced a tender offer to purchase up to 20% of its outstanding units at their net asset value, providing liquidity to investors.

How does Osprey Bitcoin Trust benefit investors?

The Trust simplifies Bitcoin investments by eliminating technical challenges such as custody and security risks, offering a reliable and straightforward investment vehicle.

Who sponsors Osprey Bitcoin Trust?

Osprey Bitcoin Trust is sponsored by Osprey Funds, LLC, which handles administrative and regulatory matters for the Trust.

What is the purpose of the tender offer?

The tender offer aims to provide liquidity to investors and address the Trust’s trading discount to NAV by enabling investors to sell their units at net asset value.

What are the tax implications of participating in the tender offer?

The tender of units under the offer is treated as a taxable sale for U.S. federal income tax purposes. Investors are encouraged to consult their tax advisors for specific guidance.

Where can I find more information about the tender offer?

Detailed information can be found in the Offer to Purchase and related Letter of Transmittal documents, which should be read carefully before making any decisions.

How can I participate in the tender offer?

Investors must submit a properly completed Letter of Transmittal to the Trust's transfer agent, CSTT. Those holding units through brokers or other nominees should coordinate through those institutions.

What happens if the tender offer is extended?

If the offer is extended, the NAV of tendered units will be determined based on the extended expiration date, with updates provided via press release.

Who should I contact for more assistance about the tender offer?

For more assistance, contact the Information Agent, Morrow Sodali LLC, or your broker, dealer, commercial bank, trust company, or other nominee.
OSPREY BITCOIN TR UBI

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