Asset management firm Bitwise has updated its spot Ether exchange-traded fund (ETF) Form S-1 registration statement, revealing a potential $100 million investment in the ETF at its trading launch.
According to Bitwise’s June 18 filing with the United States Securities and Exchange Commission (SEC), investment firm Pantera Capital Management “has indicated an interest in purchasing an aggregate of up to $100 million of Shares” in the spot Ether ETF.
“However, because indications of interest are not binding agreements or commitments to purchase, these potential purchasers could determine to purchase more, fewer or no Shares,” the filing stated.
A Form S-1 is a document submitted to the SEC before a security starts trading, detailing financials, operations, and risk analysis.
READ MORE: Crypto-Backed PAC Spends Millions to Oppose Incumbent in NY Democratic Primary
These filings are the final step in the approval process before the spot Ether ETFs can be publicly traded, an event that SEC Chair Gary Gensler anticipates will happen “sometime over the course of this summer.”
On May 23, the SEC approved 19b-4 filings from eight Ether ETF applicants, but these applications require Form S-1 approvals before the ETFs can begin trading on U.S. exchanges.
The revised filing coincides with the SEC ending its investigation into whether Ether is a security.
“The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,” Ethereum developer Consensys announced in a June 19 X post.
“This means that the SEC will not bring charges alleging that sales of ETH are securities transactions,” the firm explained.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
