The ARK 21Shares Bitcoin ETF (ARKB) has announced a 3-for-1 stock split aimed at attracting a wider base of retail investors.
Objectives of the ARK 21Shares Bitcoin ETF Split
The split, scheduled for June 16, aims to improve accessibility to ARKB shares for investors. It is expected to enhance trading liquidity while leaving the fund's total value unchanged.
ETF's Performance Amid Recent Outflows
Despite the upcoming split, ARKB has faced challenges, including six consecutive days of outflows totaling $430 million. As of June 2, the fund closed at $104.25, meaning post-split shares will be priced under $35.
Future Plans of 21Shares
21Shares has also filed a proposal with the SEC for a Dogecoin-based ETF, highlighting the company's efforts to expand its offerings in the cryptocurrency space.
The upcoming stock split of the ARK 21Shares Bitcoin ETF reflects the company's commitment to making its shares more accessible to a broader audience amid current market challenges.
