Firm appoints strategic hires amid reorganization and pivotal AUM milestone for the Osprey Bitcoin Trust (OBTC) March 18, 2021 09:00 AM Eastern Daylight Time
TARRYTOWN, N.Y.–(BUSINESS WIRE)–Osprey Funds, LLC, the digital asset subsidiary of REX Shares, today announces a corporate reorganization plan to spin Osprey off into an independent legal entity. This news comes on the heels of the Osprey Bitcoin Trust (OBTC) crossing $150 million in assets under management (AUM).
“This move reinforces our commitment to establishing Osprey as a leader in investable digital asset-based funds”Tweet this
The reorganization positions Osprey to leverage its role as the preeminent, low-cost cryptocurrency solutions provider and capitalize on future expansion opportunities while keeping its established management team intact.
“This move reinforces our commitment to establishing Osprey as a leader in investable digital asset-based funds,” said Greg King, CEO of Osprey. “There is significant investor appetite for cryptocurrency investments that trade publicly under a ticker symbol, as evidenced by the recent interest in OBTC, our flagship product. This change will allow Osprey to continue growing fast and meet the demand for new products.”
In addition to the reorganization, Osprey hired three seasoned experts to accelerate research, investor relations and marketing capabilities. These include:
“As we continue to grow rapidly in the digital assets investment landscape, staffing our team with talented individuals is key,” said King. “This group serves as a great addition and will help us provide exceptional products to investors.”
OBTC is the lowest-cost publicly traded bitcoin fund in the U.S. The Trust recently began trading publicly with an annual management fee of just 0.49%.
Independently, REX Shares’ MicroSectors Suite of exchange-traded products also reached a milestone, surpassing $2 billion in AUM just six months after crossing the $1 billion mark in September 2020.
About Osprey Funds, LLC
Osprey Funds, LLC (Osprey) offers common sense solutions to digital asset investing. Based in Tarrytown, New York, Osprey is dedicated to building better investment products that offer secure, transparent, and cost-effective access to digital assets. The Osprey Bitcoin Trust, OBTC, is the lowest-cost publicly traded bitcoin-focused investment product in the U.S. Learn more by visiting https://ospreyfunds.io/.
About REX Shares
Founded in 2015, REX Shares (REX) is an independent provider of exchange-traded products (ETPs) based in Fairfield, Connecticut. As ETP architects, the REX team creates investment vehicles that solve for a range of specific challenges in investor portfolios. The firm is rooted in decades of experience structuring and building inventive investment solutions. For more information, please visit www.rexshares.com.
Gregory FCA for Osprey Funds & REX Shares
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