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

- BlackRock’s ETHA is doing a reverse split. Yes, combining three shares into one to make the stock price look less depressed. It’s not magic; it’s just accounting theater to keep the nominal share price above its rivals like Grayscale and VanEck. The real win? The bid-ask spread shrinks from 7 bps to 2 bps. That makes trading via BlackRock roughly 70 times cheaper than buying on Coinbase. So, while you’re paying premium fees for the "joy" of self-custody, the institutions are quietly optimizing their execution costs. It’s efficient, it’s boring, and it proves that Wall Street still knows how to squeeze margins better than retail on-ramps. Where's my cut?