BlackRock's rare ETHA reverse split is about to make trading Ethereum 70 times cheaper than Coinbase

What happened

BlackRock approved a one‑for‑three reverse split of its iShares Ethereum Trust ETF (ETHA), which will raise the share price and make each share trade about 70 times cheaper than Coinbase’s Ethereum price.

Confirmed

Global impact / market context

A higher share price can narrow the bid‑ask spread, lowering trading costs for investors and making the ETF more attractive compared with buying Ethereum directly on exchanges.

Analyst inference

Ethereum’s price volatility and the premium investors often pay for crypto ETFs mean that cheaper, tighter‑spreading products could draw more capital into regulated funds rather than unregulated exchanges.

Analyst inference

What to watch

1. If the reverse split succeeds, monitor ETHA’s post‑split trading volume to see whether tighter spreads translate into higher investor demand. Analyst inference
2. Watch for any regulatory feedback from the SEC, as the filing confirms approval but future guidance could affect similar crypto‑ETF structures. Analyst inference
3. Track Ethereum’s market price relative to ETHA’s NAV (net asset value) to gauge whether the ETF continues to trade at a discount or premium after the split. Analyst inference

Affected assets

• ETH — Ethereum

Evidence

• cryptoslate.com