Osprey Bitcoin Trust Third Amended and Restated Declaration of Trust and Trust Agreement

On December 18, 2025, Osprey Bitcoin Trust, through its sponsor Osprey Funds, LLC, and trustee CSC Delaware Trust Company, entered into the Third Amended and Restated Declaration of Trust and Trust Agreement. This agreement amends and restates the previous trust agreement to facilitate the Trust's conversion into an exchange-traded product and the listing of its Shares on the Nasdaq Stock Market. Key revisions include establishing a management fee of 0.49% annualized, paid monthly, with the sponsor covering ordinary operational and administrative expenses. Additionally, the issuance and redemption of Shares will now occur in Baskets of 10,000 or multiples thereof, in exchange for Bitcoin or cash.