Announcement - GraniteShares 3x Short Tesla ETP

Dear T212 traders,

GraniteShares would like to inform you about our decision to consolidate the GraniteShares 3x Short Tesla ETP (3STS). For every 1,500 ETPs owned, investors will receive 1 new ETP in exchange.

Investors already invested in 3STS will own fewer ETPs than before the consolidation but the Value per ETP will be proportionally higher. As a result, there will be no impact on the value of your investment. If the consolidation results in any fractional securities, they will automatically be redeemed in cash.

The record date for the consolidation will be on 14th May 2021 with the consolidation date effective on 17th May 2021. Proceeds linked to fractional ETPs are expected to be transferred to the clearing systems on 19 May 2021. Please note it may take a few days for the payment to be received.

GraniteShares believes it is in the investors’ interest to keep ETP prices within efficient trading ranges, and to try and avoid situations where ETP prices become too low or too high.

GraniteShares will not charge any commissions or fees related to the consolidation of securities or disbursement of the payments if fractional securities are involved.

Please refer to the following link for more information: 3STS-Reverse Split effective 17 May 2021

In case of any additional questions, please let us know.

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In these types of events, what will happen?
The investor will have still a position on the ETP, only changing the number of shares and the shares’ price, maintaining the same total value (of course, subjected to the daily market fluctuations)?

Or the investors will have their positions closed, receiving the money their positions are worth at that time? (If so, this kind of events, materialize gains or losses and it’s a tax event, that can be harmful to the investors.)

Or it depends on the platform used?

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For example:
Before split: You own 1500 shares priced at $0.01. Total holdings worth: $15.00
After split: You own 1 share priced at $15.00. Total holdings worth: $15.00.

No taxable event takes place and it doesn’t depend on the platform - all brokers should be informed via the exchange and should be automatically reflected in clients accounts.

I’d assume Granite is doing it since spreads tend to become quite bad when trading at <$0.01.


I understand the stock split and reverse stock split concepts.

My concern is that platform, in this case Trading 212, might be unable to do the stock splits and reverse stock splits on ETPs (as seen in the past with stocks), and close the positions, refunding the related amounts to the investors.

Maybe Trading 212 should clarify their procedures in this operation.

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Exactly :slight_smile:
and if you own less than 1500 3STS ETP… it will be like a redemption, you will receive cash.

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:smiley: Lol my bad… I haven’t had splits on any of my holdings yet on T212, so haven’t experienced this…


Correct - your position will not be closed.
The redemption (getting cash) will happen only if you have less than 1500 ETPs

Trading212 have been informed upfront, there shouldn’t be any worries :wink:

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T212 confirmed, no positions will be closed during this operation.

@Oktay We appreciated your inputs. However, please keep your assumptions for another thread. No need for brain exercises on this one.

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To all T212 traders,

Today is the effective date of GraniteShares 3x Short Tesla ETP (3STS) reverse split.

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You picked a fine time to do it. :laughing:

So I held it before the consolidation… and it’s being completed today. I think if it wasn’t frozen I would be significantly up and be looking to sell my position. When will I be able to do this?

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Indeed interesting times :slight_smile:

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We work with our counterparts to resolve this. Hopefully, tomorrow trading on 3STS will restart. Will keep you posted.
Thank you for your understanding!

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Thanks for the reply, it’s not back today. My gosh I hope it’s soon!!! Is there anyway I can find out timescales? Will it open back at the price of would have been if the consolation didn’t happen or will there be a re collaboration?

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Apologize for the inconvenience. As soon as we get all the confirmations from our counterparts, we will inform the London Stock Exchange and the order book can reopen.
The underlying’s movement will be reflected in the price of the ETP once trading resumes.

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Even if the product is not currently quoting and tradable on the Exchange, you can check the Value per ETP calculated by GraniteShares and published on our website: GraniteShares 3STS

Yesterday Value:

[UPDATE] 3STS – Tesla Short -3x ETP

Dear Trading212 Traders,

As you may know, this Monday, a reverse split has been done on 3STS.
Following this reverse split, the London Stock Exchange halted trading on 3STS after GraniteShares noticed that depositaries and clearing house did not make all payment.

We are doing all we can to ensure that third parties can rectify the situation as soon as possible, so that trading can resume quickly.

Unfortunately, we do not expect trading to resume this morning at the opening of the London Stock Exchange. We will keep you informed as soon as trading will resume.

IMPORTANT - Value per ETP Security as of 18 May 2021 => $11.80693516

More information about the Reverse Split: 3STS-Reverse Split effective 17 May 2021

3STS (Value): GraniteShares 3STS

This is the same situation for 3STE (EUR) and 3STP (GBP).

Come on you got to fix this fast! I would be up so much I want to sell out today!!!

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From the last information we got, the issue is solved and the LSE will maybe resume trading today.
If not, for sure trading resume for tomorrow morning at the opening.