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A New Bitcoin Fund, OBTC, May Trigger Fee War With Its 0.49% Management Fee
Summary: The crypto fund market welcomes a new competitor. Osprey Funds, a digital asset subsidiary of REX Shares, will soon launch a new Bitcoin fund--Osprey Bitcoin Trust (OBTC)--in the OTC market, as reported by Bloomberg. The new fund may trigger fee war as the cheapest Bitcoin fund, charging 0.49%, which is only one-fourth of the management fee ...
The crypto fund market welcomes a new competitor. Osprey Funds, a digital asset subsidiary of REX Shares, will soon launch a new Bitcoin fund--Osprey Bitcoin Trust (OBTC)--in the OTC market, as reported by Bloomberg.
The new fund may trigger fee war as the cheapest Bitcoin fund, charging 0.49%, which is only one-fourth of the management fee of Grayscale's GBTC.
Fidelity Digital Assets will provide custody services for OBTC. Greg King, CEO of the company stated that qualified investors must have at least $25,000 to directly purchase the trust, with a lock-up period of one year before it can be sold on the secondary market. The company will try to shorten the lock-up period to six months.
By Mary Liu
Tags: Bitcoin,Bitcoin Trust,Fidelity Digital Assets,GBTC,Greyscale,OBTC,Osprey Funds,REX Shares
Link: A New Bitcoin Fund, OBTC, May Trigger Fee War With Its 0.49% Management Fee [Copy]
