Grayscale Investments will conduct a split (split) shares of the Ethereum Trust (ETHE) fund in a ratio of 9:1. This will increase the liquidity and availability of shares for retail investors.
According to the statement
Grayscale Investments, December 17 all holders of shares in the ETHE fund on December 14 will receive nine shares instead of one. The price of the new share will accordingly decrease by 9 times at the opening of trading.
The ETHE Fund is a tool that allows investors to access ether (ETH). There are currently 29.5 million shares outstanding, each of which is equivalent to holding 0.09284789 ETH. After the split, there will be 265.5 million shares of ETHE, each representing 0.01031643 ETH.
Companies typically conduct splits to increase the number of shares outstanding, thereby increasing liquidity. It also makes the stock more accessible to retail investors.
Since the beginning of the year, the value of ETHE shares has increased by about 350%, mainly in line with the growth in the price of ETH. Grayscale Ethereum Trust is currently trading at around $112.
Recently it became known about the intention
Guggenheim Partners has invested more than $500 million in Grayscale Bitcoin Trust, and previously the total value of crypto assets managed by Grayscale Investments exceeded