Bitwise, an asset management firm, has made changes to its registration statement for a spot Ether exchange-traded fund (ETF), including a possible $100 million investment upon the ETF’s launch for trading.
In a filing made on June 18 with the United States Securities and Exchange Commission (SEC), Bitwise mentioned that Pantera Capital Management, an investment firm, has expressed interest in buying up to $100 million worth of Shares in the spot Ether (ETH) ETF.
However, the filing noted that these expressions of interest are not binding agreements, and potential purchasers may decide to buy more, less, or no Shares at all.
A Form S-1 is a document submitted to the SEC before a security can begin trading, providing details on financials, operations, and risk analysis.
This filing is the final step in the approval process before the spot Ether ETFs can be traded publicly, a development that SEC Chair Gary Gensler expects to occur “sometime over the course of this summer.”
On May 23, the SEC approved 19b-4 filings from eight Ether ETF applicants, but they still require Form S-1 approvals before trading can begin on U.S. exchanges.
The revised filing coincides with the SEC’s decision to end its investigation into whether Ether should be classified as a security.
Consensys, an Ethereum developer, mentioned in a post on June 19 that the SEC’s Enforcement Division has closed its investigation into Ethereum 2.0. This means that the SEC will not pursue charges alleging that ETH sales are securities transactions.
In related news, Dynamo DeFi, X Hall of Flame, believes that Ethereum’s recent price drop could present opportunities for investors.