Grayscale completed a reverse split of Bitcoin Mini Trust ETF and Ethereum Mini Trust ETF
According to Cointelegraph, asset management company Grayscale has completed a reverse split of its two cryptocurrency ETFs - the Grayscale Bitcoin Mini Trust ETF and the Grayscale Ethereum Mini Trust ETF, aiming to make securities trading more "cost-effective".
After the reverse split at 22:00 UTC on November 19th, the per-share price of the Grayscale Bitcoin Mini Trust ETF increased fivefold. At the same time, the number of circulating shares held by ETF holders decreased proportionally. Due to the reverse split of Ethereum Mini Trust ETF, each share's price from this trust increased tenfold from its net asset value (NAV) per share before splitting. The number of shares held by shareholders (excluding fractional shares) also had to be reduced accordingly. After reversing splits on November 19th, shareholders will see their impact on next trading day on November 20th.
For Grayscale Bitcoin Mini Trust ETF, every five pre-splitting ETF shares will be exchanged for one post-splitting BTC share after splitting with a price that is five times higher than NAV per share before splitting. For Grayscale Ethereum Mini Trust ETF, every ten pre-split ETH shares will be exchanged for one post-split ETH share after splitting with a price that is ten times higher than NAV per share before splitting. Grayscale stated that since splits are automatic, shareholders do not need to take any action.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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