CoinShares enacts reverse share split for Bitcoin and Ether ETF

CoinShares International announced on Thursday, June 6, that it will execute a reverse share split for its Bitcoin and Ether ETF (BTF). This action is intended to decrease the number of outstanding shares in the fund while simultaneously increasing the value per share.

The reverse split will occur at a ratio of 1-for-2, meaning every two existing shares in the fund will be consolidated into one new share. According to CoinShares, this action will not directly alter the fund's total value or shareholders' proportional ownership. Instead, the goal is to make the shares more appealing to investors by raising their nominal price.

This type of action is common among funds when the per-unit price is perceived as too low for certain investor segments or to align with market expectations. CoinShares is a leading European provider of digital asset investment products, offering a range of investment vehicles focused on cryptocurrencies and other digital assets.

The Bitcoin and Ether ETF (BTF) is listed on an exchange, providing investors with a regulated avenue to gain exposure to these two major cryptocurrencies. The reverse share split is expected to become effective at the market open on Wednesday, June 12. Shareholders have been notified of the details of the split via letter.