In a remarkable week for the cryptocurrency market, BlackRock's Ethereum ETF (ETHA) rapidly amassed $10 billion in assets, becoming the third-fastest ETF to reach this milestone. The company achieved this in merely 251 days, following the success of its Bitcoin ETFs. Meanwhile, MicroStrategy is raising up to $2.5 billion through a preferred stock offering to bolster its Bitcoin reserves, amidst ongoing class-action lawsuits regarding its previous financial maneuvers. The Bitcoin miner, MARA Holdings, faced a sharp 12% drop in stock value after announcing a $950 million debt raise, intended for operational purposes and acquisitions. Notably, the company's substantial Bitcoin holdings currently match its market capitalization. Analysts have mixed views on MARA's stock, with some upgrades occurring despite the recent dip. As these developments unfold, market analysts speculate on the potential for accelerated growth in crypto ETFs, especially if the SEC allows for in-kind share redemption using Bitcoin or Ethereum.

Source 🔗