BlackRock’s Ethereum ETF is down nearly 27% since launch as it prepares for a reverse stock split
As BlackRock Inc. (NYSE: BLK) prepares for a 1-for-3 reverse share split, during the second week of October 2026, its iShares Ethereum Trust ETF (ETHA) has fallen nearly 27% since its inception through September 18.
On Friday, BlackRock’s ETHA traded at about $$19.47. As such, ETHA has tumbled 26.78% from its debut price of $26.59 on July 23, 2024.
ETHA’s all-time chart. Source: TradingView
BlackRock’s ETHA has followed Ethereum (ETH) price action since its launch as designed. However, ETH price has toppled 25.76% during this period, signaling that ETHA has slightly higher volatility.
ETH/USD chart since ETHA launched. Source: TradingView
On October 6, 2026, BlackRock expects to split its ETHA via a 1-for-3 reverse share split. This fund manager is making this move to reduce trading friction, narrow bid-ask spreads for market makers, and lower overall execution costs for investors by elevating the fund’s nominal share price.
With ETHA having a reported 467,680,000 shares outstanding, BlackRock plans to reduce this to roughly 155,893,333 shares. Consequently, ETHA holders will see their holdings decline by a third, but the value will remain unchanged.
BlackRock’s Ethereum ETF holdings
At the time of reporting, BlackRock’s ETHA has a total of 3,510,369 ETH, valued at around $8.6 billion, according to data from SoSoValue. As such, it holds nearly 3% of Ethereum’s total supply of 120.05 million ETH.
ETHA’s daily cash flow. Source: SoSoValue
Cumulatively, ETHA has registered $12.84 billion in net cash inflow. During the past 24 hours, BlackRock’s ETHA recorded a trading volume of $525.03 million and a net cash outflow of $42.86 million.
Historically, ETH price has closely mirrored the daily net cash flow of ETHA, whereby inflows resulted in bullish performance and vice versa.
Featured image via Shutterstock
