ME News reports that on August 5 (UTC+8), Bloomberg ETF analyst Eric Balchunas posted on X that BlackRock has announced a 1-for-3 reverse split for ETHA, raising the price from $14 to $42 in October. This move will reduce trading costs from 7 basis points to approximately 2 basis points. The ETF issuer considers the 7-basis-point spread an issue and is adjusting it to around 2 basis points, while cryptocurrency exchanges typically charge about 140 basis points. (Source: ODAILY)
BlackRock Announces a 1-to-3 Reverse Split for ETHA to Reduce Trading Costs
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Summary
BlackRock announced a 1-to-3 reverse split for ETHA, with the price expected to rise from $14 to $42 in October. The move aims to reduce trading costs from 7 basis points to approximately 2 basis points. Altcoins to watch may experience shifts in trading volume as the ETF issuer adjusts spreads. Exchanges typically charge around 140 basis points, making this change significant for investors.
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