Bitwise Seeks $100M From Pantera for ETF

Asset management firm Bitwise has disclosed that Pantera is interested in buying its upcoming spot, Ether ETF, but it could spend more, less, or nothing.

The spot Ether exchange-traded fund (ETF) Form S-1 registration statement of asset management firm Bitwise was revised to reflect a prospective $100 million investment in the ETF upon its trading launch.

Pantera Capital Management, an investment firm, has expressed an interest in purchasing an aggregate of up to $100 million of shares in the Ether ETF, according to Bitwise’s filing with the United States Securities and Exchange Commission (SEC) on June 18.

“However, because indications of interest are not binding agreements or commitments to purchase, these potential purchasers may opt to purchase fewer, more, or no Shares,” the filing stated.

Form S-1 is a document submitted to the Securities and Exchange Commission (SEC) before trading in a security. It contains information regarding financials, operations, and risk analysis.

SEC Chair Gary Gensler anticipates that the spot Ether ETFs will be publicly traded “sometime throughout this summer,” and the filings are the final component of the approval process.

The SEC approved 19b-4 filings from eight Ether ETF bidders on May 23. However, the ETFs must receive Form S-1 approvals before trading on U.S. exchanges.

The SEC’s investigation into the status of Ether as a security was terminated on the same day as the amended filing.

Ethereum developer Consensys announced in a June 19 X post that the Enforcement Division of the Securities and Exchange Commission (SEC) has concluded its investigation into Ethereum 2.0.

“This implies that the SEC will not file charges alleging that sales of ETH are securities transactions,” the firm clarified.