Osprey Funds LLC has begun a corporate reorganization plan with the goal of spinning off into an independent legal entity.
The reorganization comes as Osprey Bitcoin Trust (OBTC), the company”™s publicly traded bitcoin-focused investment product, has crossed the mark of having $150 million in assets under management.
As part of the reorganization, Osprey has brought in three new executives: Bill Birmingham, a former senior equity analyst for hedge funds including Carlson Capital and Impala Asset Management, as managing director and head of research; Ryan Ballantyne, former executive vice president at Reality Shares, as managing director for investor relations; and Scott McKenna, former sales and marketing director at ETFLogic, as vice president of marketing.
Based in Tarrytown, Osprey is the digital asset subsidiary of REX Shares, a Fairfield-headquartered independent sponsor of exchange-traded funds (ETFs) headquartered in Fairfield.
“This move reinforces our commitment to establishing Osprey as a leader in investable digital asset-based funds,” said Osprey CEO Greg King. “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.”
