According to Odaily, following the termination of the acquisition deal with Bitwise, investment management firm Osprey Funds is now seeking to convert its Osprey Bitcoin Trust (OBTC) into an ETF. In a statement released on January 14, the company announced plans to "promptly" file an S-1 form with a registration statement to the U.S. Securities and Exchange Commission (SEC). The OBTC currently tracks the price of Bitcoin without holding the actual asset and has assets under management (AUM) totaling $181 million.

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