Ethereum
BlackRock Plans Reverse Split for Ethereum ETF After Post-Launch Decline
The asset manager is consolidating shares of its spot Ethereum fund following a nearly 27% drop since its July 2024 debut.
BlackRock is preparing a one-for-three reverse share split for its iShares Ethereum Trust ETF (ETHA), scheduled for October 6, 2026. The move aims to lift the nominal share price to narrow bid-ask spreads, decrease trading friction, and reduce execution costs for investors. Under the plan, ETHA's outstanding shares will shrink from roughly 467.68 million to about 155.89 million, lowering share counts by a third while keeping overall holding values constant.
The adjustment follows a 26.78% decline in the fund's price from its launch level of $26.59 on July 23, 2024, to around $19.47 as of September 18. The underlying cryptocurrency fell 25.76% over the identical timeframe, reflecting slightly higher volatility in the ETF relative to spot markets.
According to SoSoValue data, the fund holds 3,510,369 ETH worth approximately $8.6 billion, representing nearly 3% of the total 120.05 million circulating supply. Across its lifespan, ETHA has accumulated $12.84 billion in net inflows, despite recording $42.86 million in daily net outflows alongside $525.03 million in 24-hour trading volume.
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