Public Keys: Strategy Stretches Bitcoin Raise and BlackRock’s Ethereum ETF Hits Warp Speed

Key Points

1. BlackRock’s iShares Ethereum Trust (ETHA) became the third-fastest ETF to reach $10 billion, achieving this in 251 days.

2. Spot Ethereum ETFs launched in July 2024 had $1 billion in trading volume, compared to $4.5 billion for Bitcoin ETFs in January 2024.

3. Analysts predict Bitcoin and Ethereum ETF issuers may get SEC approval for in-kind redemption and creation of shares, allowing purchases with BTC or ETH.

4. MicroStrategy (formerly known as Strategy) is raising $2.5 billion via a preferred stock offering to buy more Bitcoin, adding to its current holdings worth $70.6 billion.

5. A class-action lawsuit alleges MicroStrategy’s common stockholders should have voted on amendments to its Strike preferred stock offering.

6. MARA Holdings saw its stock price drop after announcing an $850 million raise, later increased to $950 million, to fund Bitcoin purchases and other operations.