TechFlow news, November 20 — According to Cointelegraph, asset management firm Grayscale completed reverse stock splits for 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."
Following the reverse split executed at 22:00 UTC on November 19, the per-share price of the Grayscale Bitcoin Mini Trust ETF increased fivefold. Concurrently, the number of outstanding shares held by ETF investors was proportionally reduced. Due to the reverse split of the Ethereum Mini Trust ETF, the trust's per-share price rose tenfold from its pre-split net asset value (NAV). Shareholders' share counts (excluding fractional shares) were also proportionally reduced accordingly. After the reverse split on November 19, shareholders will see the effects on the next trading day, November 20.
For the Grayscale Bitcoin Mini Trust ETF, every five pre-split ETF shares were converted into one post-split BTC share, priced at five times the pre-split per-share NAV. For the Grayscale Ethereum Mini Trust ETF, every ten pre-split ETH shares were converted into one post-split ETH share, priced at ten times the pre-split per-share NAV. Grayscale stated that because the split will be conducted automatically, shareholders do not need to take any action.
