21Shares Successfully Completes Stock Split On Its Crypto ETPs
Zurich - 21 April 2021 - 21Shares AG, the Swiss pioneering fintech ETP issuer is delighted to announce that it has completed its Corporate Action event consisting of 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% in the last 4 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.” Said 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 2 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.” concluded Hany Rashwan, CEO of 21Shares.
Tickers, ISINs and WKNs (Kuerzel) of the products remained unchanged. If any investors have questions about their holdings and the impact of the stock split, they should contact ETP@21shares.com or visit the website on www.21shares.com.
Founded in 2018, 21Shares AG ( formerly Amun) is the leading crypto fintech issuer of ETP in Switzerland. It aims to make investing in crypto assets as easy as buying shares using your conventional broker or bank. Investors can invest in cryptocurrencies using a conventional ETP structure (or tracker) easily, with total confidence, security and cost-effectively thanks to the 21Shares suite of ETPs now composed of 12 Crypto ETPs : the 21Shares Crypto Basket Index ETP (HODL:SW), 21Shares Bitcoin (ABTC:SW | 21XB:GY), 21Shares Ethereum (AETH:SW | 21XE GY), 21Shares XRP (AXRP:SW | 21XX:GR), 21Shares Bitcoin Cash ETP (ABCH:SW | 21XC:GY), 21Shares Binance ETP (ABNB:SW), 21Shares Tezos ETP (AXTZ:SW), 21shares Bitcoin Suisse ETP (ABBA:SW), 21Shares Bitwise 10 ETP (KEYS:SW), Sygnum Platform Winners Index ETP (MOON:SW), 21Shares Short Bitcoin ETP (SBTC:SW | 21XS:GY), 21Shares Polkadot ETP (ADOT:SW | PDOT:GR). The entire suite is listed on a regulated framework on the official market of Deutsche Boerse, SIX Swiss Exchange, BX Swiss, the Wiener Boerse and MTF on Börse Stuttgart in CHF, USD, GBP and EUR respectively. Incorporated and headquartered in the canton of Zug, with offices in Zurich and New York, the company has launched several world firsts, including the first listed crypto basket index (HODL) ETP in November 2018 and currently manages assets of 1.5 billion US Dollars. In order to always be up to date, 21Shares AG has established an in-house research team.