(Reuters) – 21Shares We on Monday performed a 3-1 split of the ARK 21Shares Bitcoin ETF to make the fund more accessible to investors, and it came into effect with the market open on June 16th.
The approval of such a Spot Bitcoin ETF by the Securities and Exchange Commission in January 2024 marked a basin moment in the digital asset industry, ending a decade-long wait and expanding its acceptance of regulations.
The rapidly growing capital will be able to directly touch Bitcoin through traditional markets and allow institutions and other investors to participate without holding tokens, enhancing reliability and inflows into the sector.
ARKB has so far won nearly 12% this year, earning nearly 27% per quarterly. Trade closed on Monday at $104.25.
Meanwhile, Bitcoin, the world’s largest and most widely recognized cryptocurrency, has risen beyond $100,000, a level that many market participants consider to be key.
Companies typically aim to attract a broader base of retail investors and improve liquidity by splitting stocks and lowering trading prices per unit.
The share split will not affect ARKB’s net asset value, ticker symbol or investment strategy, and its shares will continue to trade under the same CUSIP, the company said.
(Reporting by many Saini in Bengaluru, edited by shounak dasgupta)
