Osprey Bitcoin Trust filings document the structure and reporting of a Delaware statutory trust sponsored by Osprey Funds, LLC and backed by bitcoin exposure through units representing fractional undivided beneficial interests. Registration statements describe the securities being registered, continuous offering framework, financial statements, trust organization, and management-fee arrangements.
Material-event reports record amendments to the trust agreement, including order-placement procedures for purchase and redemption orders, ordinary expense treatment, and basket-based issuance and redemption mechanics. The filing record also includes annual-report timing notices and formal disclosures signed by authorized officers of the sponsor on behalf of the trust.
Osprey Bitcoin Trust’s first quarter 2026 results show how closely it tracks Bitcoin’s price. Net assets fell to $64,165,534 from $136,695,615 as of December 31, 2025, as Bitcoin declined from $87,315.53 to $67,831.76 per coin.
The Trust realized gains of $30,979,300 from Bitcoin sold for redemptions and fees, but this was more than offset by $52,625,983 in unrealized depreciation, producing a net loss from operations of $21,755,174. Redemptions of 1,920,000 shares removed an additional $50,774,907, leaving 2,940,535 shares outstanding and NAV per share of $21.82, a total return of -22.41% for the period.
The Trust corrected an immaterial historical cost-classification error without affecting total net assets, but its Sponsor identified a material weakness in disclosure controls tied to an administrator transition and is implementing enhanced procedures to remediate it.
Osprey Bitcoin Trust files its annual report describing a Nasdaq-listed Bitcoin exchange-traded fund whose Shares (ticker OBTC) aim to track Bitcoin’s price via the CME CF Bitcoin Reference Rate – New York Variant, minus expenses. The Trust holds Bitcoin in segregated cold storage with Coinbase Custody and cash with U.S. Bank. It charges a 0.49% annual Management Fee, accrued daily and paid monthly in U.S. dollars, typically by selling small amounts of Bitcoin. As of June 30, 2025, non-affiliate holdings had an aggregate market value of $198,196,607, and as of March 27, 2026, there were 2,940,535 Shares outstanding. NAV per Share was $28.12 on December 31, 2025, based on the Index. The filing explains Bitcoin market mechanics, index construction, custody and security arrangements, creation/redemption in 10,000-Share Baskets, and extensive regulatory risk and termination triggers for the Trust.
Osprey Bitcoin Trust filed a Form 12b-25 notification stating it could not timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The Trust says it needs additional time to complete the presentation of its financial statements and supporting documentation so the independent audit can be finished, and it intends to file the Annual Report within the fifteen calendar day extension under Rule 12b-25.
Osprey Bitcoin Trust reported that its sponsor, Osprey Funds, LLC, and Delaware Trust Company entered into an amendment to the Trust’s Third Amended and Restated Declaration of Trust and Trust Agreement. The change updates the cutoff time for placing cash Purchase and Redemption Orders from 6:00 p.m. Eastern Time to 5:30 p.m. Eastern Time on the business day before the trade date. The amendment is dated January 9, 2026.
Osprey Bitcoin Trust has amended its governing agreement to support converting the trust into an exchange-traded product and listing its Shares on Nasdaq Stock Market LLC. The revised terms set the trust’s ordinary recurring expense as a management fee of 0.49% per year, accrued daily on net asset value and paid monthly to the Sponsor. In return, the Sponsor will bear routine operational, administrative and other ordinary fees and expenses, such as trustee, administration, transfer agent, custody, listing, SEC registration, audit, tax reporting, license and ordinary legal costs.
The agreement also establishes that Shares will be issued and redeemed only in large blocks of 10,000 Shares, or integral multiples called Baskets, based on the amount of Bitcoin attributable to each Share after fees and expenses. These Baskets will be created and redeemed with authorized participants in exchange for Bitcoin or cash.
Osprey Bitcoin Trust is registering an indeterminate number of new Shares for continuous issuance and allowing Selling Shareholders to resell up to 357,902 Shares. The trust holds Bitcoin with Coinbase Custody and seeks to mirror Bitcoin’s price, using the CME CF Bitcoin Reference Rate – New York Variant as its benchmark, minus expenses and liabilities. Shares will list on Nasdaq under the symbol OBTC and can only be created and redeemed in 10,000‑Share Baskets by Authorized Participants in exchange for Bitcoin or cash.
The trust charges a 0.49% annual Management Fee, accrued daily and paid monthly in U.S. dollars by selling Bitcoin. An intraday indicative value will be published every 15 seconds during regular trading hours, while official NAV is calculated once daily. The filing highlights extensive risks, including extreme Bitcoin price volatility, technology and governance risks in the Bitcoin network, forks and airdrops, custody and private key loss, unregulated or opaque trading venues, and potential adverse regulatory developments. The trust is an emerging growth company and is not registered as an investment company or commodity pool.
Osprey Bitcoin Trust has filed an amended registration to permit the resale of up to 357,902 Shares and a continuous primary issuance of an indeterminate number of new Shares backed by Bitcoin holdings.
The Trust is a Delaware statutory trust that holds Bitcoin and cash and seeks to track the price of Bitcoin, measured by the CME CF Bitcoin Reference Rate – New York Variant, minus expenses and liabilities. Shares will be listed on Nasdaq under the symbol “OBTC” and are issued and redeemed only in Baskets of 10,000 Shares through authorized broker-dealers, in exchange for Bitcoin or cash. As of September 30, 2025, the Trust’s NAV per Share was $36.98 based on the Bitcoin Market Price.
The Trust charges a Management Fee of 0.49% per year of average daily NAV, paid in U.S. dollars funded by selling Bitcoin. It is a passive vehicle that does not use leverage or derivatives and is not registered as an investment company or commodity pool. The prospectus highlights substantial risks, including extreme Bitcoin price volatility, digital asset market failures, forks and airdrops, custody and key-loss risks, concentration in a single asset, and potential regulatory changes that could impair operations or the value of the Shares.
Osprey Bitcoin Trust (OBTC) filed an amended S-1 registration describing the Trust's structure, risks, mechanics of creations/redemptions, and financial activity through June 30, 2025 (unaudited) and year ended December 31, 2024. The filing makes clear that the Shares track Bitcoin and that the Trust holds Bitcoin (and may accept cash) with custody, creation/redemption and distribution mechanics governed by the Trust Agreement.
The document highlights concentrated operational and market risks: extreme Bitcoin price volatility, custody and private‑key loss risks, regulatory and tax uncertainty, potential suspension of creations/redemptions, and multiple dissolution triggers (including regulatory determinations, insolvency, or loss of the custodian). Financial highlights show large unrealized and realized gains on Bitcoin: net change in unrealized appreciation of $68,351,967 for year ended 12/31/2024 and $26,640,962 for six months ended 6/30/2025, and net realized gains reported in those periods.