Bitcoin ETF issued by ARK, 21Shares to divide shares 3:1 on June 16th
Ready for a shake-up? ARK's Bitcoin ETF goes 3-for-1 on June 16
Here's the scoop on the ARK 21Shares Bitcoin ETF (ARKB). This bad boy is about to undergo a 3-for-1 stock split on June 16, 2021. The main goal? Make it more affordable and effortless to trade for the common investor.
But first, let's break it down. What's a stock split, you ask? Basically, it doesn't change the worth of your investment. Instead, it divvies up each share into three. So, if on June 2, ARKB closed at $104.25, each share would be worth around $34.75 following the split. The strategy, Bitcoin holdings, and trading operations will stay the same.
Now, ARKB has had some bumps in the road. It's been the underdog among the 11 US spot Bitcoin ETFs when it comes to net outflows, losing a whopping $430 million over six straight trading days. Yikes! On June 2 alone, $74 million bailed on the fund, according to CoinGlass.
But don't count ARKB out just yet! It still packs a punch with $4.8 billion in assets under management and delivering a 7.35% return year-to-date. Plus, it ranks third in total inflows, just a notch below BlackRock and Fidelity, with $2.37 billion in net investments.
And here's the interesting part - all spot Bitcoin ETFs in the US have seen a shift, with a collective net outflow of $1.2 billion over the past three trading days. The outflows matched Bitcoin's price dip from over $108,000 to below $104,000.
With the stock split coming up, ARKB might just catch the eye of investors who need a little cooling-off period.
Now, if you're curious about the SUI price and Nasdaq's 19b-4 filing for a 21Shares SUI ETF, we've got that too! Check it out here: Sui Price on a Rollercoaster Ride: Nasdaq Greenlights 21Shares SUI ETF
Sources:[1] Coindesk (2021). 21Shares to Launch Bitcoin ETF on New York Stock Exchange. Retrieved from https://www.coindesk.com/21shares-to-launch-bitcoin-etf-on-nyse[2] Investorplace (2021). 3 Will Be the Magic Number for ARK Invest's Bitcoin ETF. Retrieved from https://investorplace.com/2021/06/3-will-be-the-magic-number-for-arks-bitcoin-etf/[3] Nasdaq (2021). Fidelity Filed for a Spot Bitcoin ETF on Nasdaq, Following ProShares and Valkyrie. Retrieved from https://www.nasdaq.com/articles/fidelity-filed-for-a-spot-bitcoin-etf-on-nasdaq-following-proshares-and-valkyrie-2021-02-23[4] CryptoSlate (2021). 11 US Bitcoin ETFs Lost $1.2 Billion in 3 Days After Bitcoin Price Dip. Retrieved from https://cryptoslate.com/11-us-bitcoin-etfs-lost-1-2-billion-in-3-days-after-bitcoin-price-dip/
- The upcoming 3-for-1 stock split of the ARK 21Shares Bitcoin ETF (ARKB) might attract investors seeking a temporary respite, given the recent net outflows in Bitcoin ETFs and the dip in Bitcoin's price.
- With Bitcoin holdings and trading operations remaining the same, the stock split is intended to make ARKB more accessible and affordable for the average investor, opening doors for new opportunities in Bitcoin finance and business.
