Grayscale Bitcoin Investment Trust gave investors 91 shares for every one they previously owned, and the stock is spiking now that shares are cheaper.
The move makes the stock more accessible to those who want to invest.
It just got easier to invest in bitcoin without actually buying the digital currency.
Shares of the Grayscale Bitcoin Investment Trust, a stock that seeks to imitate the price of bitcoin through its ownership of 0.09 BTC per share, opened up more than 8% Monday — rising as high as $19.57 — after a 91-for-1 split over the weekend made the stock more accessible to the masses.
The company announced the split in January, when the stock was trading at more than $1,000.
Now, shares of the investment trust are trading at a much more affordable $18.