BlackRock filed with the SEC for a 1-for-3 reverse share split of its iShares Ethereum Trust ETF (ETHA) on October 6, a move that will consolidate three shares into one and raise the per-share net asset value without changing total fund assets. The filing comes as ETHA manages over $5 billion in assets under management, making it the dominant ETH-based ETF on the market.
Why the reverse split
Bloomberg Senior ETF Analyst Eric Balchunas noted that the reverse split should reduce the bid-ask spread cost from roughly 7 basis points to about 2 basis points. That's a meaningful improvement for traders who have been dealing with wider spreads in a low-volume environment. The mechanics are straightforward: three shares become one, the NAV per share triples, and the total value of each investor's position stays the same.
Ethereum's price picture
Ethereum was trading at $1,871.32 at the time of the filing, down 0.66% in the last 24 hours, with a range of $1,861.59 to $1,880.32. The asset has lost over 60% from its 2025 peak near $5,000, dragged down by a year-long downtrend. The June low around $1,550 to $1,600 remains a key support level; a break below could push ETH to multi-year lows. On the upside, $1,900 is acting as resistance — a daily close above that could open targets of $2,200 and then $2,400.
LiquidChain presale crosses $930K
Separately, LiquidChain (LIQUID), an L3 infrastructure project positioning itself as a cross-chain liquidity layer, has raised $930,199.26 in its presale. Tokens are priced at $0.01487 per LIQUID. The project aims to fuse liquidity from Bitcoin, Ethereum, and Solana into a single layer.
