21Shares US LLC has announced a 3-for-1 share split for its ARK 21Shares Bitcoin ETF, ARKB. This move aims to make the fund more accessible to retail investors. The split will take effect on June 16, as stated in a press release on June 2.
The share split will triple the number of shares, lowering the price per share without changing the fund’s total value. 21Shares believes this will attract a wider range of investors and improve trading efficiency. ARKB will keep its current ticker and investment strategy.
ARKB is a physically backed spot Bitcoin ETF. It tracks the New York Variant of the Chicago Mercantile Exchange CF Bitcoin Reference Rate. this fund offers direct access to Bitcoin in a regulated setting. Currently, ARKB trades at $104.33 and has gained 27% in the last quarter.
The fund holds 45,410 Bitcoin, valued at about $4.82 billion. Coinbase Custody is the main custodian, with BitGo and Anchorage Digital Bank reducing counterparty risk.
Interest in crypto ETFs is growing, following the SEC’s approval of spot bitcoin funds in January 2024. The ETF market now holds $125 billion across 11 U.S.-listed Bitcoin ETFs. 21Shares sees the share split as a way to boost retail participation.
21Shares launched the first physically-backed crypto exchange-traded product in 2018. Besides ARKB,it offers the ARK 21Shares Active Bitcoin Futures Strategy ETF and the ARK 21Shares Blockchain and Digital Payments ETF.
