According to The Block, on August 28th, Osprey Funds, the initiator of Osprey Bitcoin Trust (OBTC), has reached an agreement with Bitwise Bitcoin ETF (BITB) and Bitwise Asset Management. BITB will acquire all assets of OBTC fund. In March of this year, Osprey stated that it was considering other strategic measures such as selling or merging with Bitcoin ETF. Osprey must complete the sale or merger before September 1, 2024, otherwise it will liquidate OBTC. As part of this transaction, OBTC shareholders will receive BITB shares as part of the OBTC liquidation distribution. For existing BITB holders, their shares will not change and the operation of BITB will not change. Prior to BITB's acquisition of OBTC, Bitwise had already acquired ETC Group, a cryptocurrency ETP issuer headquartered in London, on August 19th. Data shows that BITB's assets account for 4.69% of the Bitcoin spot ETF market.