Osprey Bitcoin Trust is seeking to sell or plans to merge with a Bitcoin ETF

ChainCatcher news, according to CoinDesk, the Bitcoin-based closed-end fund Osprey Bitcoin Trust is seeking strategic options such as selling or merging with a Bitcoin exchange-traded fund (ETF). According to a statement on Tuesday, the company said that if this process is unsuccessful, it "plans to liquidate and dissolve the trust within 180 days starting today."

It is reported that Osprey Bitcoin Trust is known as a major competitor to Grayscale's GBTC fund, which has transitioned to an ETF this year. Osprey previously filed a lawsuit against Grayscale, claiming that its ETF conversion was a foregone conclusion.