Osprey Bitcoin Trust ( OBTC ), a closed-end bitcoin fund whose units are trading at a discount to its BTC holdings, said it's trying to sell itself to or merge with a bitcoin ETF, among other strategic alternatives.

In its statement Tuesday, the company said if this process is unsuccessful, it "intends to liquidate and dissolve the Trust within 180 days from today."

Osprey Bitcoin Trust ( OBTC ) became well known as a fierce rival to Grayscale's much-larger GBTC fund, which this year converted into an ETF. Osprey went as far as filing a lawsuit against Grayscale claiming the latter had been deceptively claiming its ETF conversion was a foregone conclusion.

Read more: Osprey's Bitcoin Trust Ups the Ante in Race to Displace GBTC

Osprey did not immediately respond to requests for comment.