Consolidation within the crypto ETP space continues with another move by Bitwise, reflecting a broader industry trend that appears poised to continue. 

CoinShares closed its deal to acquire Valkyrie’s US-centric ETF business in March. Then last week, crypto asset manager Bitwise bought ETC Group.

Bitwise followed up that purchase by revealing on Tuesday its pending deal to acquire the assets within the Osprey Bitcoin Trust — currently totaling roughly $120 million.

For Osprey shareholders, this deal “will lower costs and increase liquidity while providing continuity to their investment,” Bitwise CEO Hunter Horsley told Blockworks. 

Read more: Osprey Bitcoin Trust seeks merger…

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