BlackRock's Ethereum ETF Takes Hit Ahead of Reverse Stock Split

BlackRock's Ethereum ETF (ETHA) has taken a hit since its launch in July 2024, falling nearly 27% to $19.47 per share by September 18. This comes as the fund manager prepares for a 1-for-3 reverse stock split on October 6, 2026.

The decline mirrors the performance of Ethereum (ETH), which has also dropped 25.76% since ETHA's inception. The ETF's total holdings stand at 3,510,369 ETH, valued at around $8.6 billion and accounting for nearly 3% of Ethereum's total supply.

By reducing its share count through the reverse split, BlackRock aims to reduce trading friction, narrow bid-ask spreads, and lower execution costs for investors by elevating the fund's nominal share price.