Osprey Bitcoin Trust Begins Trading as “OBTC” With Industry-Low Management Fee

Rhea-AI Summary

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.

Positive

• OBTC has the lowest management fee at 0.49%, enhancing its attractiveness to investors.
• The fund offers a secure and transparent way to invest in bitcoin.
• Backed by a highly experienced management team with a history in digital asset investments.

Negative

• None.

Osprey Funds, LLC announced today that its inaugural offering – The Osprey Bitcoin Trust (OBTC) – has commenced trading publicly via the OTC market. The fund is now accessible to all U.S. investors through traditional brokerage and IRA accounts.

Seeking to track the CMBI Bitcoin Index, OBTC provides better access to digital assets with secure, transparent, and low-cost exposure. It has an annual management fee of just 0.49%, making it the lowest-priced publicly traded bitcoin fund in the world.

“As a fiduciary-minded organization, we believe bitcoin deserves a place in every investment portfolio, but at a reasonable price,” said Greg King, CEO of Osprey. “Not only does bitcoin have immense long-term appreciation potential, it also provides portfolio diversification given its low correlation to equities. By bringing OBTC to the market, we are delivering value to advisors and investors by broadening their access to bitcoin but priced more like an ETF, rather than a hedge fund.”

OBTC is backed by experts at Osprey who have invested in bitcoin since 2013 and who have launched over 100 exchange-traded products (ETFs and ETNs) throughout their careers. Members of the management team built their experience at firms such as Barclays, Credit Suisse, Citi, Global X Funds, J.P. Morgan, and PIMCO. OBTC is further supported by best-in-class service providers, including Fidelity Digital Assets as custodian, Grant Thornton as auditor, and Coin Metrics as index provider.

For more information on OBTC or Osprey, please click here.

About Osprey Funds, LLC

Osprey Funds, LLC (Osprey) offers common sense solutions to digital asset investing. Based in Tarrytown, New York, Osprey is dedicated to building better investment products that offer secure, transparent, and cost-effective access to digital assets. The Osprey Bitcoin Trust, OBTC, is the lowest-cost publicly traded bitcoin-focused investment product in the world. Learn more by visiting https://ospreyfunds.io/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210216005811/en/

FAQ

What is OBTC?

The Osprey Bitcoin Trust (OBTC) is a publicly traded fund launched by Osprey Funds, providing low-cost access to bitcoin.

When did OBTC start trading?

OBTC commenced trading publicly on the OTC market as of the date of the press release.

What is the management fee for OBTC?

The annual management fee for OBTC is 0.49%, making it the lowest-priced publicly traded bitcoin fund in the world.

What index does OBTC track?

OBTC seeks to track the CMBI Bitcoin Index.

Who supports the Osprey Bitcoin Trust?

OBTC is supported by notable service providers including Fidelity Digital Assets and Grant Thornton.