B3bit

06/05 09:46

Leading Bitcoin ETF Makes Bold Move to Attract

Leading Bitcoin ETF Makes Bold Move to Attract More Investors

In an effort to broaden its investor base, the ARK 21Shares BTC ETF (ARKB) will undergo a 3-for-1 stock split on June 16, making the assets more accessible to ordinary investors.

The issuer 21Shares said that the purpose of this measure is to improve the accessibility and efficiency of trading without changing the fund's core strategy or its exposure to Bitcoin.

The split will reduce the price per share while tripling the number of shares held by each investor. The total value of investor holdings and the total net asset value of the fund will remain unchanged.

As of June 2, ARKB closed at $104.25. After the split, the share price will drop to just under $35 based on that figure, although the actual value will reflect the market at the time of the split.

While this event does not affect the intrinsic value of the fund, it can play a psychological role by making the stock appear more affordable, especially in the eyes of smaller investors who may be intimidated by expensive securities.

ARKB has struggled with its performance compared to its peers, recording outflows of $430 million in six consecutive trading days, including $74 million on June 2 alone.

Despite the recent decline, the fund remains the third-largest by total inflows among U.S. spot Bitcoin ETFs, raising $2.37 billion since its launch. It currently manages $4.8 billion in assets and has returned 7.35% year-to-date.

The fund is a joint initiative of 21Shares and ARK Invest, led by noted investor Kathy Wood, and was among the first entrants into the spot BTC ETF market. However, investor sentiment has recently shifted in favor of competitors such as BlackRock and Fidelity. The upcoming split could help ARKB reposition itself in a market where retail investor interest continues to play a key role in the dynamics of spot ETFs.

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