Demex Daily #367: Holesky Finalizes as Pectra Faces Delays

What’s Interesting Today:

Ethereum’s Holesky testnet has reached finality after delays and technical challenges, marking progress toward the Pectra upgrade, which has been postponed from its original March 2025 launch date. Holesky, activated on February 24, initially faced network instability but finalized transactions on March 10, while the Sepolia testnet experienced issues due to a cyberattack. To refine the upgrade without further delays, developers plan to implement a temporary "shadow fork" of Holesky. Pectra aims to enhance scalability, efficiency, and staking by enabling gas payments in stablecoins, increasing staking limits, and introducing Verkle Trees. The Ethereum Foundation has yet to announce a new release date, while ETH’s price has declined amid these developments.

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Bitwise has launched the Bitcoin Standard Corporations ETF (OWNB), which tracks companies holding at least 1,000 BTC in their treasuries. Its largest holding is MicroStrategy (MSTR), alongside Bitcoin miners like MARA, CLSK, and RIOT. The ETF aims to provide investors exposure to firms treating Bitcoin as a strategic reserve asset. Corporate Bitcoin holdings have surged past $54 billion, with MicroStrategy leading at over $41 billion. Other asset managers, including Strive and REX Shares, are also developing similar Bitcoin treasury ETFs amid rising interest in Bitcoin-backed investment products.

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