M&A - Bitwise Funds Trust
Form Type: N-14
Filing Date: 2025-04-25
Corporate Action: Merger
Type: New
Accession Number: 000121390025035595
Filing Summary: Bitwise Funds Trust has filed a Registration Statement under the Securities Act of 1933 for the reorganization of the Bitwise Crypto Industry Innovators ETF (Target Fund) into a newly created series of Bitwise Funds Trust, also called the Bitwise Crypto Industry Innovators ETF (Acquiring Fund). The reorganization will allow shareholders of the Target Fund to receive shares of the Acquiring Fund equal in aggregate net asset value at the time of the reorganization. The Board of Trustees of Exchange Traded Concepts Trust has approved the plan and recommends that shareholders vote in favor of it. The reorganization is structured such that there will be no recognition of gain or loss for tax purposes and no fees will be imposed on shareholders as a result of the reorganization. The ETC Board has called a Special Meeting for shareholders to vote on this proposal.
Additional details:
Approximate Date Of Proposed Public Offering: As soon as practicable after the effective date of this Registration Statement
Title Of Securities Being Registered: Shares of Beneficial Interest, no par value, of Bitwise Crypto Industry Innovators ETF
Investment Objective And Strategies: Investment objective and strategies of the Target Fund and Acquiring Fund are identical
Existing Management Fees: Same as Target Fund, unitary fee of 85 basis points
Expected Tax Implications: No recognition of gain or loss for federal income tax purposes
Meeting Location: 10900 Hefner Pointe Drive, Suite 400, Oklahoma City, Oklahoma 73120
Acquisition Structure: Transfer of assets of Target Fund in exchange for shares of Acquiring Fund
Shareholder Distribution Method: Liquidating distribution by Target Fund to shareholders of shares of Acquiring Fund
Comments
No comments yet. Be the first to comment!