Osprey Bitcoin Trust Common Units of Beneficial Interest (OBTC)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I begin with the idea that a sound business should produce revenue and fairly predictable earnings. Osprey Bitcoin Trust does not show that profile in the filed figures. Revenue is n/a in every period provided, and reported net income swings sharply: in fiscal year 2024 it was +$119.4M, in fiscal year 2025 it was -$13.4M; in fiscal Q1 2025, the quarter ended 2025-03-31, it was -$21.7M; in fiscal Q2 2025, the quarter ended 2025-06-30, it was +$48.3M; in fiscal Q1 2026, the quarter ended 2026-03-31, it was -$21.8M; and in fiscal Q2 2026, the quarter ended 2026-06-30, it was -$8.8M. That tells me these are not operating profits I can underwrite with a moat. At the close on 2026-10-16, the price was $26.05 and market cap $76.6M. FairStock's valuation and return measures are N/A because there is no EPS, book value, or revenue base in the data. The 52-week range is $18.38-$34.65, so the unit has moved widely. With only two years of filed results, the computed Lynch category is none. That is a real limitation. The only encouraging detail is that the fiscal Q2 2026 loss narrowed from fiscal Q1 2026, and fiscal year 2024 showed a large positive reported result. But Graham would ask for evidence of durable value and a margin of safety. I cannot calculate that from the given figures; this is a volatile trust-like vehicle, not a predictable compounding business. Cheapness is unproven.

In plain English: Osprey Bitcoin Trust is a small financial trust tied to Bitcoin. Its filed numbers show no revenue and large swings from profit to loss, so the business looks weak by ordinary standards. At $26.05, with no earnings or asset-value figures provided, the price cannot be judged cheap or expensive from the numbers given.

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Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer