Grayscale completes share splits for Bitcoin and Ether ETFs

Grayscale Investments has completed reverse share splits for its Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) Mini Trust ETFs, aimed at improving cost efficiency and aligning with investor needs.

The changes, finalised on November 19, resulted in significant price adjustments for both funds.

The Grayscale Bitcoin Mini Trust ETF underwent a 1-for-5 reverse share split, increasing its price per share fivefold.

Similarly, the Grayscale Ethereum Mini Trust ETF executed a 1-for-10 reverse share split, raising its price per share tenfold.

Shareholders experienced a proportional reduction in the number of shares they hold, excluding fractional shares.

Grayscale announced that fractional shares created during the splits will be aggregated and sold.

"Shareholders will receive the net cash proceeds of such sale in proportion to the fractional shares sold," the company stated, noting that fractional shares cannot trade on the NYSE Arca.

The firm explained that the splits aim to enhance trading cost efficiency and simplify fund management.

“Based on feedback from our clients, we believe this is the right decision and beneficial to our clients and the investment community,” Grayscale added.

Following the adjustments, the Grayscale Bitcoin Mini Trust ETF’s price rose to $41 in pre-market trading, while the Ethereum Mini Trust ETF’s price increased to $2.90, according to TradingView data.

The changes are automatically applied, requiring no action from shareholders.

"Your holdings will remain unchanged," Grayscale assured investors. 

At the time of reporting, the Bitcoin (BTC) price was $96,907.30, and the Ethereum (ETH) price was $3,113.50.