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

Bitwise Bitcoin ETF ends Osprey bitcoin purchase deal after undisclosed settlement

Neutral Impact 3 of 5 m&a Written later

Bitwise and Osprey terminated their August 26, 2024 agreement under which Osprey would have sold all its bitcoin to Bitwise in exchange for BITB shares. Osprey paid Bitwise an undisclosed settlement amount on February 10, 2025, and the agreement is now terminated. The filing says Osprey gave notice that it intended to pursue an alternative business opportunity, which means the planned bitcoin transfer into BITB will not occur.

Key points

  • Agreement dated August 26, 2024 is terminated as of February 10, 2025
  • Osprey paid Bitwise an undisclosed settlement amount, which the filing says has been paid
  • Osprey sought amendments in early December 2024 that delayed the expected closing
  • Filing states Osprey had no right to unilaterally terminate the agreement for a new business opportunity

The filing

CompanyBitwise Bitcoin ETF (BITB)
Form8-K, current report
Filed with the SECFeb 14, 2025, 4:05 PM ET
Accession number0000950170-25-021165

Items reported: 1.02 Termination of Material 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 February 14, 2025.

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.