The Bitwise Bitcoin ETF (BITB) will acquire $120 million in Bitcoin from the Osprey Bitcoin Trust (OBTC) in a deal announced on August 27. OBTC unitholders will receive BITB shares as their OBTC shares are liquidated, with the transaction expected to close later this year. Osprey Funds, which faced challenges due to OBTC trading at a discount to Bitcoin and lower performance compared to its peers, opted for this acquisition to benefit from Bitwise's scale and expertise. Since its launch, BITB has attracted $2 billion in inflows, though it trails behind BlackRock’s iShares Bitcoin Trust, which has garnered nearly $21 billion. Source: Cointelegraph