BlackRock’s Ethereum ETF (ETHA) rapidly reached $10 billion in assets, making it the fastest ETF to achieve this milestone in 251 days, despite earlier concerns over its lack of initial engagement compared to Bitcoin ETFs. Meanwhile, MicroStrategy is raising up to $2.5 billion through a new preferred stock offering aimed at purchasing additional Bitcoin while facing legal challenges related to previous stock offerings. Meanwhile, shares of MARA Holdings dropped significantly after announcing a $950 million debt raise, although the funds will be allocated for operations, acquisitions, and not just Bitcoin purchases. Analysts regard the debt situation as a minor issue, especially considering Bitcoin's performance. The growing interest in crypto ETFs suggests a potential acceleration in their market adoption as issuers consider allowing in-kind redemption and creation of shares, which may foster investor engagement and further growth in the cryptocurrency market.

Source 🔗