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GBTC, a bitcoin investment trust, tries to track the price of bitcoin with its stock price.
The company announced a 91-for-1 stock split, which will bring down the price of a single share dramatically, making it more accessible to retail investors.
Grayscale - Investment - Bitcoin - Investment - Trust
Grayscale Investment’s Bitcoin Investment Trust, a stock that seeks to mirror the price of bitcoin, announced Friday a 91-for-1 stock split that would drastically reduce the price of shares, making them more accessible to retail investors.
GBTC is up about 14% on the news, trading at $1,947 per share Friday morning. At current prices, the split would make the new price for a single share of the bitcoin trust just above $21 per share.
Split - GBTC - Market - Value - OTC
The split won’t affect GBTC’s market value, which is about $3.19 billion on the OTC market, but it will make shares more accessible to retail investors who may be...
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