In the latest crypto market update, BlackRock's iShares Ethereum Trust became the third-fastest ETF to reach $10 billion in assets within 251 days, despite early skepticism compared to Bitcoin ETFs. MicroStrategy aims to raise up to $2.5 billion through a new preferred stock offering to increase its Bitcoin holdings amid class-action lawsuits regarding previous stock transactions. Meanwhile, MARA Holdings saw its stock drop 12% due to its announcement of a $950 million debt raise for operational needs, not solely for Bitcoin purchases. Analysts suggest potential SEC approval for Bitcoin and Ethereum ETFs to allow in-kind share transactions, which could further drive cryptocurrency ETF growth. Overall, while overall BTC values remain strong, MARA’s financial strategy of holding Bitcoin while raising capital through debt has raised questions among investors, though analysts have maintained a neutral outlook on the stock.

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