BlackRock (NYSE:BLK) is preparing to restructure the share structure of its flagship spot Ethereum exchange-traded fund through a one-for-three reverse share split. The iShares Ethereum Trust ETF, which trades under the ticker ETHA, will consolidate every three existing shares into a single share. Market observers note that a higher share price can help compress the relative size of the bid-ask spread. ETHA remains the largest spot ether ETF by a significant margin, with assets under management exceeding $5 billion. BlackRock has since expanded its digital-asset lineup, including a staked version of an ether trust that began trading earlier in 2026.