Osprey Funds has applied

Digital asset manager Osprey Funds has filed a Form 10 application with the US Securities and Exchange Commission (SEC) to register a bitcoin trust (OBTC).

Digital asset manager Osprey Funds has filed a Form 10 application with the US Securities and Exchange Commission (SEC) to register a bitcoin trust (OBTC).

https://twitter.com/OspreyFunds/status/1413238980649230338

The company has additional obligations to prepare audited financial statements for the SEC. On the other hand, for investors, the holding period for the trust's securities before sale will be reduced from 12 months to 6 months.

OVTS is available to accredited investors directly, to retail investors in the over-the-counter market.

Osprey Funds charges 0.49% of AUM as a management fee (Grayscale Investments charges 2%), but charges 0.3% for other expenses, such as asset custody.

Once approved by the Bitcoin Trust Commission, Osprey Funds will become the second accountable company after Grayscale Investments to offer a crypto investment product. This will happen automatically on 6 September, 60 days after the application was submitted on 8 July.

Similar cryptocurrency-first funds from Bitwise Asset Management, BlockFi and CrossTower are also available to investors.

As a reminder, QCP Capital questioned the risks of ending the blockchain-based first cryptocurrency trust period from Grayscale Investments for bitcoin.

Bitcoin Lifestyle is the #1 Bitcoin AutoTrader in the crypto market. The platform is awarded by the US trading Association for the best auto trading platform.

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