ARK 21Shares Bitcoin ETF to undergo 3-for-1 share split on June 16
21Shares US said on Monday it will carry out a 3-for-1 share split of its ARK 21Shares Bitcoin ETF to make the fund more accessible to investors, with the move set to take effect at market open on June 16.
The approval of such spot bitcoin ETFs in January 2024 by the U.S. Securities and Exchange Commission, marked a watershed moment for the digital assets industry, ending a decade-long wait and signaling growing regulatory acceptance.
The funds, which have rapidly grown in popularity, offer direct exposure to bitcoin through traditional markets, allowing institutions and other investors to participate without holding the token, bolstering credibility and inflows into the sector.
ARKB has gained almost 12 per cent so far this year and nearly 27 per cent quarter-to-date. It closed trading at $104.25 on Monday.
Meanwhile, bitcoin, the world's largest and most widely recognized cryptocurrency, has also climbed above the $100,000 mark, a level seen as key by many market participants.
Companies typically split shares to lower the trading price per unit, aiming to attract a broader base of retail investors and improve liquidity.
The share split will not affect ARKB's net asset value, ticker symbol, or investment strategy, and its shares will continue trading under the same CUSIP, the company said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
4 hours ago
- CNA
EchoStar prepares potential bankruptcy filing amid FCC review, WSJ reports
EchoStar is considering a Chapter 11 bankruptcy filing as the telecommunications services firm vies to shield its cache of wireless spectrum licenses from the threat of revocation by federal regulators, the Wall Street Journal reported on Friday, citing people familiar with the matter. The company declined to comment on the report. Last month, the Federal Communications Commission (FCC) notified EchoStar it was investigating the company's compliance with certain federal obligations to provide 5G service in the U.S., questioning EchoStar's buildout extension and mobile-satellite service. FCC's actions have severely limited the company's ability to make strategic decisions regarding the growth and investment of its Boost Mobile business, according to a regulatory filing by the company last month. EchoStar has previously disclosed that it missed roughly $500 million in interest payments, citing uncertainty around the ongoing FCC review.
CNA
7 hours ago
- CNA
South Korea's Lee, Trump agree to work towards swift tariff deal, Lee's office says
SEOUL/WASHINGTON: US President Donald Trump and South Korea's new president Lee Jae-myung agreed to work toward a swift tariff deal in their first phone call since Lee was elected this week, Lee's office said on Friday (Jun 6). Trump has imposed tariffs on South Korea, a long time ally with which it has a bilateral free trade deal, and pressed it to pay more for the 28,500 US troops stationed there. Separately, Trump allies have aired concerns about Lee's more conciliatory stance towards China, Washington's main geopolitical rival. Lee, a liberal, was elected on Jun 3 after former conservative leader, Yoon Suk Yeol, was impeached and ousted. The future of South Korea's export-oriented economy may hinge on what kind of deal Lee can strike with Trump, with all of his country's key sectors from chips to autos and shipbuilding heavily exposed to global trade. His term began on Wednesday. "The two presidents agreed to make an effort to reach a satisfactory agreement on tariff consultations as soon as possible that both countries can be satisfied with," Lee's office said in a statement. "To this end, they decided to encourage working-level negotiations to yield tangible results." Trump invited Lee to a summit in the US and they plan to meet soon, according to a White House official. Analysts say the first opportunity for the two to meet could be at a G7 summit in Canada in mid-June. Lee's office said the two leaders also discussed the assassination attempts they both experienced last year as well as their enthusiasm for golf. Lee underwent surgery after he was stabbed in the neck by a man in January last year, while Trump was wounded in the ear by a bullet fired by a would-be assassin in July. South Korea, a major US ally and one of the first countries after Japan to engage with Washington on trade talks, agreed in late April to craft a "July package" scrapping levies before the 90-day pause on Trump's reciprocal tariffs is lifted, but progress was disrupted by the change of governments in Seoul. Lee said on the eve of the elections that "the most pressing matter is trade negotiations with the United States." Lee's camp has said, however, that they intend to seek more time to negotiate on trade with Trump. While reiterating the importance of the US-South Korea alliance, Lee has also expressed more conciliatory plans for ties with China and North Korea, singling out the importance of China as a major trading partner while indicating a reluctance to take a firm stance on security tensions in the Taiwan Strait. Political analysts say that while Trump and Lee may share a desire to try to re-engage with North Korea, Lee's stance on China could cause friction with the US. A White House official said this week that South Korea's election was fair, but expressed concern about Chinese interference in what analysts said may have been a cautionary message to Lee. Speaking in Singapore last week, US Defense Secretary Pete Hegseth said many countries were tempted by the idea of seeking economic cooperation with China and defense cooperation with the United States, and warned that such entanglement complicated defense cooperation.
CNA
9 hours ago
- CNA
US, China to hold trade talks on June 9 in London, Trump says
US President Trump on Friday (Jun 6) said three of his cabinet officials will meet with representatives of China in London on Jun 9 to discuss a trade deal. In a post on his Truth Social platform, Trump said Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and United States Trade Representative Jamieson Greer will attend from the US side. "The meeting should go very well," Trump wrote. The scheduling of the meeting comes a day after Trump spoke to Chinese President Xi Jinping in a rare leader-to-leader call amid weeks of brewing trade tensions and a battle over critical minerals. The countries struck a 90-day deal on May 12 to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump's January inauguration. Though stocks rallied, the temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and US complaints about China's state-dominated, export-driven economic model.
