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AI brief of an SEC Form 8-K · Bitwise Bitcoin ETF (BITB)

Bitwise Bitcoin ETF agrees to buy Osprey Bitcoin Trust's bitcoin for BITB shares

Neutral Impact 4 of 5 m&a Written later

Bitwise Bitcoin ETF (BITB) entered into an Asset Purchase and Contribution Agreement dated August 26, 2024, under which the Osprey Bitcoin Trust will sell all its bitcoin to BITB in exchange for newly issued BITB shares. The Osprey Trust will then dissolve and distribute those shares to its unitholders, and the companies expect the deal to close in the fourth quarter of 2024. The press release states there will be no changes to existing BITB shares or to how the fund operates.

Key points

  • Agreement dated August 26, 2024, among Bitwise Bitcoin ETF, Bitwise Investment Advisers, Osprey Bitcoin Trust and Osprey Funds
  • Osprey Trust sells all its owned bitcoin to BITB in exchange for BITB shares, valued using the CME CF Bitcoin Reference Rate - New York Variant
  • Osprey Trust will dissolve and make a liquidating distribution of the remaining BITB shares to its unitholders
  • Closing expected in the fourth quarter of 2024, subject to conditions including an effective SEC registration of the shares

The filing

CompanyBitwise Bitcoin ETF (BITB)
Form8-K, current report
Filed with the SECAug 30, 2024, 11:28 AM ET
Accession number0000950170-24-102165

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 30, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.