PANews reported on November 20 that according to Cointelegraph, asset management company Grayscale has completed the reverse stock 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 stock split at 22:00 UTC on November 19, the price per share of the Grayscale Bitcoin Mini Trust ETF increased fivefold. At the same time, the number of outstanding shares of ETF holders decreased proportionally. As a result of the reverse stock split of the Ethereum Mini Trust ETF, the price per share of the trust increased 10 times from the net asset value (NAV) per share before the split. The number of shares held by shareholders (excluding fractional shares) must also be reduced proportionally accordingly. After the reverse stock split on November 19, shareholders will see its impact on the next trading day on November 20.
For the Grayscale Bitcoin Mini Trust ETF, every five ETF shares before the split will be exchanged for one BTC share after the split, and the price will be 5 times the NAV per share before the split. For the Grayscale Bitcoin Mini Trust ETF, every ten ETH shares before the split will be exchanged for one ETH share after the split, and the price will be 10 times the NAV per share before the split. Grayscale said that since the stock split will be automatic, shareholders do not need to take any action.
