Public Keys: Strategy Stretches Bitcoin Raise and BlackRock’s Ethereum ETF Hits Warp Speed
BlackRock's Ethereum ETF (ETHA) reached $10 billion in assets within 251 days, making it the third-fastest ETF to do so. Despite a less enthusiastic initial response compared to Bitcoin ETFs, investor interest has surged, with expectations for accelerated growth in crypto ETFs fueled by potential SEC approvals for in-kind redemptions. Meanwhile, MicroStrategy is looking to raise $2.5 billion through a preferred stock offering for further Bitcoin purchases, all while facing lawsuits regarding amendments to previous stock offerings. In contrast, MARA Holdings' stock fell 12% after it announced a $950 million debt raise intended for operational uses and acquisitions, not exclusively for Bitcoin. While MARA's Bitcoin holdings are significant, the market responded negatively to the debt announcement. Analysts suggest the recent dip in MARA’s stock may be temporary, with upgrades and positive sentiments surrounding Bitcoin's performance being noted by some market observers.
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