21Shares courts retail with 3-for-1 Bitcoin ETF stock split
Summary
The ARK 21Shares Bitcoin ETF (ARKB) will execute a 3-for-1 share split on June 16 to enhance accessibility for retail investors. The ETF's investment strategy will remain unchanged, and its Bitcoin holdings will stay the same. The total net asset value will not be affected by the split. ARKB closed at $104.25 on June 2, meaning post-split shares would be priced at approximately $35. Despite being the third-largest fund by inflows at $2.37 billion, ARKB has experienced significant outflows, totaling $430 million over six consecutive trading days, including $74 million on June 2. Overall, US spot Bitcoin ETFs have seen a net outflow of $1.2 billion recently, coinciding with a drop in Bitcoin prices from over $108,000 to below $104,000.
