Bitwise files for Ethereum spot ETF, Pantera Capital to buy $100 million worth of shares

The ETF issuer Bitwise updated the S-1 form for its Ethereum spot ETF yesterday, becoming the first among all ETF issuers to submit. It revealed that the cryptocurrency venture capital firm Pantera Capital will invest $100 million. Will the SEC, as Bloomberg predicts, approve the Ethereum spot ETF before the end of the month, injecting another dose of confidence into the community?

Pantera Capital Expresses Interest in Purchasing $100 Million Worth of ETHW

According to updated documents from Bitwise, cryptocurrency venture capital firm Pantera Capital is set to invest $100 million in Bitwise's Ethereum ETF under the code ETHW, with a commitment not to sell on the public market for six months.

Bloomberg ETF analyst Jamse Seyffart believes that Pantera Capital is an investor in Bitwise and has also invested $200 million in Bitwise's Bitcoin spot ETF under the code BITB.

Additionally, Bitwise has also purchased 100,000 shares as seed funding through its subsidiary Bitwise Investment Manager, LLC, with an expected expenditure of $25 billion.

Bloomberg Forecasts Approval for Listing in Early July

Seyffart believes that Bitwise's amended document is the first to be submitted among all ETF issuers recently. It will include modifications by the U.S. Securities and Exchange Commission (SEC) from their initial evaluation, although it does not mention the fee rate, and it is uncertain if further rounds of modifications will be required.

Bloomberg ETF analyst Eric Balchunas has moved up the estimated listing date for the Ethereum spot ETF to July 2nd and stated that the issuer and SEC have begun discussions. The SEC may announce the effective approval of the S-1 next week, and once the S-1 is approved, the ETF can typically be listed the following day.

Bloomberg Analyst: Ethereum Spot ETF Likely to Be Listed in Early July

The U.S. Securities and Exchange Commission (SEC) officially approved the 19b-4 form for eight Ethereum spot ETFs on May 23rd. ProShares, the issuer of the Bitcoin strategy ETF BITO, submitted the S-1 form to the SEC on June 11th, but the 19b-4 form has not yet been approved, officially entering the battle for Ethereum spot ETFs.

ProShares, issuer of BITO, Officially Joins the Battle for Ethereum Spot ETFs

Will the SEC approve the Ethereum spot ETF before the end of the month, injecting another dose of optimism into the community?