Osprey Funds spins off from REX Shares

Osprey Funds, the digital asset subsidiary of REX Shares, is to spin off into an independent legal entity. The news comes on the heels of the Osprey Bitcoin Trust (OBTC) crossing USD150 million in assets under management (AUM). 

“This move reinforces our commitment to establishing Osprey as a leader in investable digital asset-based funds,” says Greg King, CEO of Osprey. “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.”

In addition to the reorganisation, Osprey has hired three seasoned experts to accelerate research, investor relations and marketing capabilities. The new hires are: 

Bill Birmingham, Managing Director, Head of Research. Bill formerly served as a senior equity analyst for several well-known hedge funds, including Carlson Capital, Impala Asset Management and Xylem Global Partners. 

Ryan Ballantyne, Managing Director, Investor Relations. Ryan has more than 25 years of experience in the financial industry, including six years with asset management firm Reality Shares where he served as Executive Vice President responsible for sales, distribution, investor relations and product development for its ETF suite. 

Scott McKenna, Vice President, Marketing. Scott led marketing efforts for ETF analytics company ETFLogic, where he produced and hosted the Speaking Logicly podcast. Scott will be a driving force behind Osprey’s sales and marketing efforts.

“As we continue to grow rapidly in the digital assets investment landscape, staffing our team with talented individuals is key,” says King. “This group serves as a great addition and will help us provide exceptional products to investors.”

OBTC is the lowest-cost publicly traded bitcoin fund in the US. The Trust recently began trading publicly with an annual management fee of just 0.49 per cent. 

Independently, REX Shares’ MicroSectors Suite of exchange-traded products also reached a milestone, surpassing USD2 billion in AUM just six months after crossing the USD1 billion mark in September 2020.