ETHA Reverse Split: 1-for-3 Adjustment Effective October 6, 2026

The iShares Ethereum Trust ETF (ETHA) will begin trading on a 1-for-3 split-adjusted basis starting October 6, 2026. This reverse split means that every three shares held by investors will be converted into one share, effectively reducing the share count by two-thirds while increasing the price per share roughly threefold. The change is purely mechanical and does not alter the underlying economic value of the trust or an investor's ownership stake.

The split becomes effective after the record date of October 5, 2026, with the new share price expected to be around $61.29, based on the pre-split closing price of $20.43. While the share count and price per share will change, the total value of an investor's position and the trust's aggregate assets remain unchanged. Fractional shares will be redeemed for cash rather than issued as fractional post-split shares, which may have tax implications.

Investors should note that the reverse split does not affect the trust's exposure to ether or its investment objective. The primary drivers of ETHA's performance will continue to be the price of ether, tracking accuracy, trading conditions, and fees. Historical price data will also be adjusted to reflect the split, ensuring that charts do not show a fictitious overnight return.

The reverse split may impact investors who trade options on ETHA, as affected option symbols will change. Investors with open options should consult their brokers for adjusted contract terms. Overall, the split is a corporate action that changes the units of measurement but does not alter the fundamental value of the investment.