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Osprey Bitcoin Trust
Osprey Bitcoin Trust is a single-family office founded by Greg King in 2021, offering direct Bitcoin exposure via a trust structure with a 0.49% expense...
Osprey Bitcoin Trust
Osprey Bitcoin Trust was founded in 2021 by Greg King, a former CEO of Reality Shares, the firm that launched the first blockchain ETF. The trust is structured as a grantor trust, holding only Bitcoin (BTC), and is not registered under the Investment Company Act of 1940. It targets accredited investors seeking direct digital asset exposure through a familiar trust structure. The trust's investment strategy is single-asset: it holds Bitcoin and does not engage in trading, lending, or derivatives. It offers shares that trade over the counter under ticker OBTC. As of 2022, it had not disclosed total AUM or number of shares outstanding. Its expense ratio of 0.49% per annum is one of the lowest among single-asset Bitcoin trusts. The trust does not provide leverage or active management. Osprey is based in New York, with no additional offices disclosed. The team size is not public, but key figures include Greg King as CEO and John Lothian as a director. No philanthropic or adjacent vehicles have been identified. In 2022, Osprey filed a lawsuit against Grayscale Investments alleging anticompetitive behavior regarding Grayscale's Bitcoin Trust (GBTC), seeking to reduce barriers for competition. A structural differentiator is Osprey's direct Bitcoin holdings model with a transparent, low-cost fee structure—contrasting with higher-fee competitors. It also operates without an ETF structure, relying on the trust format to avoid certain regulatory burdens. The trust does not plan to launch additional products, maintaining a pure Bitcoin focus.
General information
Firm type
Single Family Office
Year founded
2021
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Greg King
CEO
John Lothian
Director
Sector focus
Frequently asked questions
Who runs investment decisions at Osprey Bitcoin Trust?
Greg King, CEO, oversees strategy and operations. He previously led Reality Shares, which launched the first blockchain ETF. John Lothian serves as a director.
How does Osprey Bitcoin Trust source its Bitcoin exposure?
The trust holds physical Bitcoin directly in custody, not through futures or derivatives. It acquires BTC and issues shares representing proportional ownership. No active trading or lending occurs.
Is Osprey Bitcoin Trust structured as a single-family office or a fund?
It is a grantor trust, not a family office in the traditional sense. It functions as a single-asset investment vehicle for accredited investors, akin to a closed-end fund holding Bitcoin.
What fees does Osprey Bitcoin Trust charge?
The trust charges an annual expense ratio of 0.49%, covering custody and administrative costs. This is lower than the 2% fee charged by the Grayscale Bitcoin Trust at the time of Osprey's launch (per Decrypt, 2021).
Does Osprey Bitcoin Trust consider class-action lawsuits part of its strategy?
In 2022, the trust filed a lawsuit against Grayscale Investments, alleging anticompetitive behavior. This is a legal action, not a core investment strategy.
What is the investment strategy of Osprey Bitcoin Trust?
The trust's strategy is to hold Bitcoin passively. It does not trade, lend, or leverage the asset. Its objective is to provide cost-effective exposure through a regulated trust structure for accredited investors.
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