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21Shares completes stock split on crypto ETPs


21Shares AG a stock split for 10 of its ETPs. The event marks a first in the crypto asset ETP segment.

The event was triggered to broaden the accessibility by employing forward share splits of the majority of its ETPs for which the underlying cryptoassets have rallied by more than 50 per cent in the last four months.

The board of directors of 21Shares carefully monitors the health of the products to ensure that they are performing as expected as well as constantly monitoring developments in crypto assets. Employing a stock split enables the firm to keep the ETPs to trade at prices within efficient and accessible ranges.  The stock split went into effect on April 12th and lowered the ETP’s per security net asset value and increased the number of securities outstanding (see attached chart).

“This corporate event marked an important milestone in the life of the company and demonstrates the strong performance of the underlying asset class as well as the ability of the firm to deliver ETP stock spilts at an early stage of its growth,” says Laurent Kssis, 21Shares Managing Director, Global Head of ETP.

“As crypto assets continue to gain traction and huge interest from institutional investors, splitting the ETPs has achieved two key things, firstly tightening the bid/ask spreads for the benefit of investors and secondly lowering the price point to allow smaller minimum investment as the price of crypto assets continues to reach record highs,” says Hany Rashwan, CEO of 21Shares.

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