BlackRock Plans 1-for-3 Reverse Split for ETHA to Slash Trading Costs
BLK sits 24% above its 52-week low of $917.39.
Summary
BlackRock is planning a 1-for-3 reverse split for its ETHA ETF in October, which would lift the share price from $14 to $42. The move aims to cut trading costs from 7 basis points to about 2 basis points, making the product more competitive against crypto exchanges that charge around 140 bps. This follows BlackRock's aggressive push into crypto ETFs, including the recent launch of spot Bitcoin ETFs and a new Bitcoin Premium Income ETF filing. The reverse split could improve liquidity and attract more institutional flow, reinforcing BlackRock's position in the digital asset space.
At the time of this announcement, BLK was trading at $1,134.85 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $183.9B. The 52-week trading range was $917.39 to $1,219.94. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Binance News.