Public Keys: Strategy Stretches Bitcoin Raise and BlackRock’s Ethereum ETF Hits Warp Speed
In the latest crypto market news, BlackRock's Ethereum ETF (ETHA) has quickly reached $10 billion in assets, becoming the third-fastest ETF to do so within 251 days. This achievement follows the less enthusiastic initial launch of spot Ethereum ETFs compared to Bitcoin ETFs, raising prospects for further growth in crypto ETFs. Meanwhile, MicroStrategy, now known as Strategy, is looking to raise up to $2.5 billion through a preferred stock offering to enhance its Bitcoin holdings. This comes amid ongoing legal challenges related to previous stock amendments. Additionally, MARA Holdings has seen its stock fall 12% after announcing a $950 million debt raise, although this funding is intended for a mix of operational and acquisition purposes rather than solely for Bitcoin purchases. Market analysts remain cautiously optimistic about MARA, highlighting its ongoing strategy of holding Bitcoin rather than selling it immediately.
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