BlackRock disclosed in a filing with the U.S. SEC that it plans to implement a 1-for-3 reverse stock split for its iShares Ethereum Trust ETF (ETHA) on October 6, consolidating every three shares into one.
The company stated that this move aims to increase the ETF's net asset value per share without altering investors' total holding value or the fund's total assets. In terms of background, ETHA's price has fallen by 40% this year. The fund is currently the largest spot Ethereum ETF on the market, with over $5 billion in assets under management.
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BlackRock announced that its Ethereum ETF (ETHA) will undergo a 1-for-3 reverse stock split on October 6.
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