SEC Comment Letter for Osprey Bitcoin Trust (OBTC) — Dec 4, 2025
Osprey Bitcoin Trust
Date: Dec. 4, 2025 · CIK: 0001767057 · Accession: 0000000000-25-011314
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 333-289334
Referenced dates: May 28, 2025
Letter
December 4, 2025 Gregory D. King Chief Executive Officer Osprey Bitcoin Trust 1241 Post Road, 2nd Floor Fairfield, CT 06824 Re:Osprey Bitcoin Trust Amendment No. 1 to Registration Statement on Form S-1 Filed October 7, 2025 File No. 333-289334 Dear Gregory D. King: We have reviewed your amended registration statement and have the following comment. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to this letter, we may have additional comments. Amendment No. 1 to Registration Statement on Form S-1 The Trust's Service Providers, page 79 1.We note your response to prior comment 9 of our letter dated May 28, 2025. Please revise this section to describe the Trade Credit Lender and material terms of the Trade Financing Agreement.
December 4, 2025 Page 2 Please contact David Irving at 202-551-3321 or Jason Niethamer at 202-551-3855 if you have questions regarding comments on the financial statements and related matters. Please contact Lulu Cheng at 202-551-3811 or Sandra Hunter Berkheimer at 202- 551-3758 with any other questions. Sincerely, Division of Corporation Finance Office of Crypto Assets cc:Erin E. Martin
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December 4, 2025
Gregory D. King
Chief Executive Officer
Osprey Bitcoin Trust
1241 Post Road, 2nd Floor
Fairfield, CT 06824
Re:Osprey Bitcoin Trust
Amendment No. 1 to Registration Statement on Form S-1
Filed October 7, 2025
File No. 333-289334
Dear Gregory D. King:
We have reviewed your amended registration statement and have the following
comment.
Please respond to this letter by amending your registration statement and providing
the requested information. If you do not believe our comment applies to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why in your
response.
After reviewing any amendment to your registration statement and the information
you provide in response to this letter, we may have additional comments.
Amendment No. 1 to Registration Statement on Form S-1
The Trust's Service Providers, page 79
1.We note your response to prior comment 9 of our letter dated May 28, 2025. Please
revise this section to describe the Trade Credit Lender and material terms of the Trade
Financing Agreement.
December 4, 2025
Page 2
Please contact David Irving at 202-551-3321 or Jason Niethamer at 202-551-3855 if
you have questions regarding comments on the financial statements and related
matters. Please contact Lulu Cheng at 202-551-3811 or Sandra Hunter Berkheimer at 202-
551-3758 with any other questions.
Sincerely,
Division of Corporation Finance
Office of Crypto Assets
cc:Erin E. Martin