Bitwise Bitcoin ETF terminates Osprey bitcoin buyout; Osprey pays settlement on Feb 10, 2025

Bitwise Bitcoin ETF

Asset Purchase Agreement (APA) dated Aug 26, 2024 terminated Feb 10, 2025 after Osprey paid undisclosed settlement.
Osprey requested structural amendments then unilaterally terminated APA to pursue an alternative business opportunity.
Bitwise asserts Osprey had no unilateral termination right under APA; settlement negotiated after termination notice.
Deal would have exchanged Osprey's bitcoin for BITB shares; no transaction completed.

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