BlackRock’s spot Ethereum ETF to undergo 1-for-3 reverse share split in October

BlackRock plans to implement a one-for-three reverse share split for its Ethereum Trust ETF on Oct. 6, according to a filing with the U.S. Securities and Exchange Commission.

The split will consolidate every three ETHA shares into one, increasing the fund’s per-share net asset value without changing the value of investors’ holdings or the fund’s assets, the filing said.

Although the asset manager did not explain the move, the price adjustment per share should make trading ETHA cheaper, as suggested by Balchunas.

Like Ethereum, ETHA's price is down about 40% year-to-date, changing hands at about $14 on Tuesday.

As with spot bitcoin ETF, BlackRock's ETH exchange-traded fund is by far the largest, with assets under management of over $5 billion. Grayscale's Ethereum fund is the market's second-largest ETH-based fund.

BlackRock launched ETHA, its non-staking ether fund, in 2024. The firm also issues the iShares Staked Ethereum Trust ETF, which began trading in March 2026.