Bitwise has updated its Form S-1 registration statement for a spot Ether exchange-traded fund (ETF), revealing potential interest from Pantera Capital Management to invest up to $100 million in ETF shares upon launch.
According to Bitwise’s filing with the SEC on June 18, Pantera Capital Management has expressed interest in purchasing an aggregate of $100 million worth of Shares in the spot Ether ETF. However, these indications of interest are non-binding and do not constitute formal agreements or commitments to purchase.
A Form S-1 is a comprehensive document submitted to the SEC prior to a security’s trading debut, detailing financials, operations, and risk factors.
The filings represent the last stage in the approval process before the spot Ether ETFs can begin trading publicly, an event anticipated by SEC Chair Gary Gensler to occur “sometime over the course of this summer.”
On May 23, the SEC approved 19b-4 filings from eight Ether ETF applicants, but these applications still need Form S-1 approvals before the ETFs can commence trading on U.S. exchanges.
On the same day, the SEC dropped its investigation into whether Ether qualifies as a security.
Consensys, an Ethereum developer, announced on June 19 that “The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0.”
Consensys elaborated, stating, “This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.”
