According to PANews, Grayscale, an asset management company, has successfully executed a reverse stock split for its two cryptocurrency ETFs: the Grayscale Bitcoin Mini Trust ETF and the Grayscale Ethereum Mini Trust ETF. This move aims to enhance the cost-effectiveness of securities trading.
The reverse stock split took place on November 19 at 22:00 UTC. As a result, the per-share price of the Grayscale Bitcoin Mini Trust ETF increased fivefold, while the number of shares held by ETF holders was proportionally reduced. Similarly, the reverse stock split for the Ethereum Mini Trust ETF led to a tenfold increase in its per-share price from the pre-split net asset value (NAV). Shareholders' holdings, excluding fractional shares, were also proportionally reduced. The impact of this reverse stock split will be visible to shareholders on the next trading day, November 20.
For the Grayscale Bitcoin Mini Trust ETF, every five pre-split ETF shares have been consolidated into one post-split BTC share, with the price being five times the pre-split NAV per share. In the case of the Grayscale Ethereum Mini Trust ETF, every ten pre-split ETH shares have been consolidated into one post-split ETH share, with the price being ten times the pre-split NAV per share. Grayscale has assured shareholders that the reverse stock split will be conducted automatically, requiring no action on their part.
