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BTCS Inc. (NASDAQ:BTCS) shares jumped 10% in Monday’s regular trading after the blockchain technology company announced a blockchain dividend in Ethereum (CRYPTO: ETH), a first for publicly traded companies.
BTCS is facing resistance from sellers. Watch the momentum here.
BTCS announced via X that it will distribute a one-time blockchain dividend, called “Bividend,” of $0.05 per share in ETH to its shareholders on the record date of Sept. 26. In addition, the company will offer a one-time $0.35 per share ETH loyalty payment for investors holding shares at the transfer agent until Jan. 26.
The combined Bividend and loyalty payment amounts to $0.40 per share in ETH for eligible shareholders.
To receive the dividend in ETH, shareholders had to complete an opt-in form, transfer their shares to the transfer agent, and have their ETH wallets validated. Investors who do not do so will receive the dividend in cash and will not be eligible for the loyalty payment.
“These payments are designed to reward our long-term shareholders and empower them to take control of their investment by reducing the ability of their shares to be lent to predatory short-sellers,” BTCS said.
See Also: Bitcoin To Hit $200K In 2025? 15% Say Yes While Many See New All-Time Highs Coming
The unique offering comes more than a month after the company announced a plan to raise $225 million throughout 2025 to acquire ETH, aiming to become one of the largest public holders of the second-largest cryptocurrency.
The company said its approach, which includes solo staking through validator nodes and block building, is designed to generate recurring revenue and compound ETH-denominated returns.
As of this writing, the company holds 55,788 ETH, worth $296.94 million, according to CoinGecko.
Price Action: At the time of writing, ETH was trading at $4,233.55, down 0.89% over the last 24 hours, according to data from Benzinga Pro.
BTCS shares slid 1.03% in after-hours trading after closing 10.43% higher at $4.870 during Monday's regular trading session. The after-hours decline could be due to the fall in ETH’s prices.
As of this writing, the stock demonstrated a very high Momentum score. Visit Benzinga Edge Stock Rankings to see how it stacks up against other ETH treasury-focused companies, such as Bitmine Immersion Technologies Inc. (AMEX:BMNR).
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo Courtesy: Alexandru Nika on Shutterstock
