ARK 21Shares Bitcoin ETF Plans Stock Split To Attract Retail Investors As Outflows Persist
The ARK 21Shares Bitcoin ETF (ARKB) will undergo a 3:1 share split this month as issuers 21Shares and ARK Invest try to boost the product’s appeal to retail investors amid continued outflows. The stock split is scheduled to happen on June 16, and should make shares “more accessible to a broader base of investors,” 21Shares said in a June 2 statement . ARKB Stock Split Will Make It Cheaper For Retail Investors To Join The fund’s share price has surged more than 10% in the last month to stand at $104.25 as of 1:00 a.m. EST, Google Finance data shows. With the recent rally, 21Shares is also attempting to reduce the risk that investors pivot to more affordable Bitcoin ETFs, such as BlackRock’s IBIT, whose shares trade at $59.36. 21Shares said the ARK 21Shares ETF’s investment strategy will remain unchanged, while its Bitcoin holdings will also remain identical. The issuer added that the ETF will continue trading as usual and that the n...