BlackRock's Ethereum ETF (ETHA) has rapidly reached $10 billion in assets, becoming the third-fastest ETF to hit this milestone just 251 days after launch. Initially receiving a lukewarm reception compared to Bitcoin ETFs, the growth trajectory is now strong, with expectations that in-kind redemption features may be approved by the SEC, allowing investors to purchase shares using Bitcoin or Ethereum. Meanwhile, MicroStrategy is launching a preferred stock offering to raise up to $2.5 billion to buy more Bitcoin, amid ongoing legal issues over its previous stock offerings. The company's Bitcoin holdings are valued at approximately $70.6 billion, reflecting significant unrealized profits. In contrast, Marathon Digital Holdings (MARA) faced a 12% stock drop following its announcement of a $950 million debt raise for operational costs and acquisitions, rather than solely for additional Bitcoin purchases. Analysts view this dip in MARA's stock as minor, given favorable market performance and an upgrade in outlook, though caution is advised for the upcoming period due to the historically weak August season.

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