BlackRock’s iShares Ethereum Trust ETF, ETHA, will carry out a 1-for-3 reverse share split effective Oct. 6, 2026, according to an 8-K filing its sponsor submitted to the SEC on Aug. 4. The sponsor, iShares Delaware Trust Sponsor LLC, approved the split on July 31, reducing ETHA’s outstanding shares while raising its net asset value per share.
The filing states the change won’t alter the total value of any shareholder’s investment or the Trust’s aggregate assets.
Why BlackRock Is Adjusting ETHA’s Share Price
According to the 8-K filing BlackRock submitted to the SEC, each three ETHA shares outstanding as of the Oct. 5, 2026, record date will be combined into one share once the split takes effect the next day. That raises each share’s price without changing what any shareholder’s stake is worth.
Bloomberg Senior ETF Analyst Eric Balchunas, writing on X, said the change will push ETHA’s share price from about $14 to roughly $42 in October, adding that it “will lower cost to trade from 7bps to 2bps-ish.”
He added that ETF issuers now treat a 7-basis-point spread as a problem, compared with the far higher fees, up to 140 basis points by his estimate, charged by crypto exchanges.
How the Split Affects Current ETHA Holders
Shareholders won’t need to take any action when the split settles, since brokerages process share consolidations automatically based on the Oct. 5 record date. The filing notes no fractional shares will be issued. Any leftover fractional position gets redeemed and paid out in cash, which it says may carry tax consequences for that investor.
For readers keeping tabs on how other issuers have responded to similar pricing pressure, our latest crypto news coverage tracks these kinds of ETF mechanics as they develop across the market.
What Happens on Oct. 6
ETHA begins trading on a split-adjusted basis on Nasdaq that day, per the filing. Investors holding shares as of the Oct. 5 record date will see their position automatically reflect the new one-for-three ratio without submitting paperwork.
Balchunas framed the timing as part of a broader shift toward ETF wrappers undercutting the higher-cost venues crypto exchanges have long relied on.
What this means for you: If you hold ETHA shares, you don’t need to do anything before or after Oct. 6, since your total investment value won’t change even though your share count will. The adjustment is about making the stock easier and cheaper to trade, not a signal about ether’s price or BlackRock’s confidence in the fund.
If you’re considering opening a position in ETHA, expect the per-share price to look different starting in October, even though the fund itself works the same way it did before.
This article is for informational purposes only and does not constitute financial advice. Do your own research before making any investment decisions.
