Public Keys: Strategy Stretches Bitcoin Raise and BlackRock’s Ethereum ETF Hits Warp Speed
The post Public Keys: Strategy Stretches Bitcoin Raise and BlackRock’s Ethereum ETF Hits Warp Speed appeared on BitcoinEthereumNews.com.
In brief BlackRock’s Ethereum ETF (ETHA) became the third-fastest ETF to reach $10 billion in assets, achieving the milestone in 251 days despite initial lukewarm reception compared to Bitcoin ETFs. MicroStrategy is raising up to $2.5 billion through a new preferred stock offering to buy more Bitcoin while facing class-action lawsuits over previous stock offering amendments. MARA Holdings’ stock dropped 12% after announcing a $950 million debt raise, though the funds will be used for operations and acquisitions, not just Bitcoin purchases. Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. ETHA hits warp speed BlackRock’s iShares Ethereum Trust, which trades under the ETHA ticker, just became the third-fastest ETF to reach $10 billion. It reached the milestone in 251 days. And was beat by BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund—which did it in 34 days and 53 days, respectively. There was much hand wringing and head scratching on Wall Street when the launch of spot Ethereum ETFs in July 2024 didn’t get the kind of reaction as Bitcoin ETFS did in January 2024. We’re talking $1 billion in trading volume for ETH funds’ debut vs. $4.5 billion for Bitcoin. But investors don’t seem worried or confused now. Looking ahead, there’s reason to believe the growth of crypto ETFs could accelerate even more. Analysts recently told Decrypt that Bitcoin and Ethereum ETF issuers are likely to get the nod from the SEC to offer in-kind redemption and creation of shares. That would mean shares could be purchased with BTC or ETH—whichever happens to be the underlying asset—and that investors could receive BTC or ETH when they redeem their shares. The feature is popular with investors, but regulators are concerned the process is complex and could pose security concerns…
