Grayscale Investments, a seasoned asset management firm specializing in crypto investments, has finalized the reverse share splits for the Grayscale Bitcoin Mini Trust ETF (BTC) and Grayscale Ethereum Mini Trust ETF (ETH). The reverse share splits took effect on November 19, 2024, at 5:00 pm Eastern Time.
Price Adjustment Details
Following the reverse share splits, the price per share of BTC has increased to five times the net asset value of a share prior to the split, while ETH’s price per share has risen to 10 times the net asset value. This adjustment also resulted in a proportional decrease in the number of shares outstanding, excluding fractional shares.
Effects of Reverse Splits Illustrated
For BTC, a hypothetical 1:5 reverse split transformed 500 pre-split shares into 100 post-split shares, with an adjusted NAV per share of $10. Similarly, a hypothetical 1:10 reverse split for ETH converted 1,000 pre-split shares into 100 post-split shares, maintaining a value of $1,000.
Following the reverse share splits, shareholders may hold fractional shares. These fractional shares can either be tracked by the shareholder’s DTC participant or aggregated and sold, with shareholders receiving the net cash proceeds from the sale. The new CUSIP numbers for BTC and ETH are 389930 207 and 38964R 203, respectively.
Trading Information
Post-split, the shares of BTC and ETH will continue to trade on NYSE Arca under their respective symbols. For further details, interested parties are encouraged to review the Funds’ prospectuses before investing.
About Grayscale Investments
Established in 2013, Grayscale Investments offers a range of innovative investment products enabling access to the digital economy. With a focus on digital assets, Grayscale serves as the world’s largest crypto asset manager, catering to investors seeking diverse exposure to the evolving market.
Contact Information
For media inquiries, reach out to Jennifer Rosenthal at [email protected]. Clients can contact Grayscale Investments at 866-775-0313 or [email protected].
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
