Share this article
Grayscale Ethereum Trust Announces 9-for-1 Stock Split
Existing shareholders will receive eight additional ETHE shares for each one held, with each new share being a ninth the value and price of the current ones.
Updated Dec 6, 2022, 8:22 p.m. Published Dec 2, 2020, 3:37 p.m.
Make us preferred on Google
Grayscale Investments announced on Wednesday that shares of its Grayscale Ethereum Trust (ETHE) will split 9-for-1, a move that will increase liquidity and perceived affordability of the shares.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Effective Dec. 17, any shareholders as of Dec. 14 will receive eight additional ETHE shares for each one held, with each being a ninth the value and price of the present unsplit shares.
- ETHE, a vehicle for investors to gain exposure to ether (ETH), the native currency of the Ethereum blockchain, currently has 29.5 million shares outstanding with each share representing ownership of 0.09284789 ETH.
- When the stock split takes effect, there will be 265.5 million ETHE shares with each representing 0.01031643 of an ether token, a ninth of its current value.
- In a stock split, though, there are more shares outstanding, each new share is proportionally less valuable.
- Companies typically split their shares to increase the number of shares in circulation, thus boosting liquidity.
- In addition, by making each share a fraction of the value price of the original share, it makes the split shares more affordable to retail investors, who may have been put off by the price of the unsplit shares.
- Shares of ETHE are at $109.10, up $0.11. Year to date, the shares have risen about 350%, largely in line with the price of ETH, also up about 350%.
- Grayscale Investments is owned by Digital Currency Group, the parent of CoinDesk.
Read also: Grayscale's Ethereum Trust Granted SEC Reporting Company Status
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Crypto stocks sink as spot volume plunges and bitcoin tumbles below $84,000
Bellwether crypto exchange Coinbase was lower for an 8th straight session on Thursday to its weakest level since May.
What to know:
- Already under severe pressure in January, most crypto-related stocks fell even further Thursday as bitcoin fell back below $84,000.
- Spot crypto trading volumes halved from $1.7 trillion last year to $900 billion, reflecting cooling market enthusiasm and cautious investor sentiment amid macroeconomic uncertainties.
- Those bitcoin miners who have pivoted business plans to AI infrastructure and high-performance computing continued to outperform.
Top Stories
