Grayscale Investments has finalized reverse share splits for its Bitcoin Mini Trust ETF (BTC) and Ethereum Mini Trust ETF (ETH), effective Nov. 19, 2024. These splits adjust share prices relative to their net asset values, with BTC shares increasing fivefold and ETH shares rising tenfold, while reducing the number of outstanding shares proportionally. Fractional shares resulting from the split may either be tracked by Depository Trust Company (DTC) participants or sold, with shareholders receiving net cash proceeds. The adjusted shares will continue trading on NYSE Arca under the original symbols, now assigned new CUSIP numbers. Grayscale emphasizes that these funds are not registered under the 1940 Act, exposing investors to higher risks and volatility. Known as the largest crypto asset manager since its 2013 founding, Grayscale offers a range of crypto investment products designed to provide access to the digital economy.
