Bitwise Leads the Way in Updating Ethereum Spot ETF Filing Pantera Capital to Purchase 100 Million Shares
ETF issuer Bitwise updated the S-1 form for its Ethereum spot ETF yesterday, becoming the first among all ETF issuers to submit it recently. The disclosure revealed that crypto venture capital firm Pantera Capital will invest $100 million. Will the SEC, as predicted by Bloomberg, approve the Ethereum spot ETF before the end of the month, injecting another dose of confidence into the community?
Pantera Capital intends to purchase $100 million worth of ETHW
Bloomberg estimates a chance of approval in early July
In the updated document from Bitwise, it appears that crypto venture capital firm Pantera Capital will invest $100 million in Bitwise’s Ethereum ETF (code ETHW) and commit not to sell in the public market for six months.
Bloomberg ETF analyst James Seyffart believes Pantera Capital is an investor in Bitwise and has also invested $200 million in Bitwise’s Bitcoin spot ETF (code BITB).
In addition, Bitwise also purchased 100,000 shares as seed capital through its subsidiary Bitwise Investment Manager, LLC, before the listing, expected to spend $2.5 billion.
Seyffart believes that Bitwise’s amended document is the first among all ETF issuers recently submitted. It will include modifications to their initial evaluation by the U.S. Securities and Exchange Commission (SEC), but the content does not mention fees, and it is uncertain if more rounds of modifications are needed.
Bloomberg ETF analyst Eric Balchunas has moved up the estimated listing date of the Ethereum spot ETF to July 2 and stated that the issuer and the SEC have started discussions. The SEC has the opportunity to announce the effective approval of the S-1 next week, and when the S-1 is approved, the ETF can usually be listed the next day.
The U.S. Securities and Exchange Commission (SEC) officially approved the 19b-4 form for eight Ethereum spot ETFs on 5/23, and Bitcoin strategy ETF (BITO) issuer ProShares submitted the S-1 form to the SEC on 6/11 (but the 19b-4 form has not yet been approved), officially joining the Ethereum spot ETF battle.
Will the SEC approve the Ethereum spot ETF before the end of the month, injecting another dose of confidence into the community?
