Ethereum

Gary

Asset management firm Bitwise has revised its spot Ether exchange-traded fund (ETF) Form S-1 registration statement, which included a potential $100 million investment in the ETF upon its trading launch.
Bitwise’s June 18 <a href="https://www.sec.gov/Archives/edgar/data/2013744/000199937124007581/bitwise-s1a_061824.htm" target="_blank" rel="noopener nofollow">filing</a> with the United States Securities and Exchange Commission (SEC) said investment firm Pantera Capital Management “has indicated an interest in purchasing an aggregate of up to $100 million of Shares” in the spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>)&nbsp;ETF.
“However, because indications of interest are not binding agreements or commitments to purchase, these potential purchasers could determine to purchase more, fewer or no Shares,” the filing said.
A Form S-1 is a document submitted to the SEC before a security starts trading that includes information on financials, operations and risk analysis.
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 Bitwise’s Form S-1 filing. Source: SEC
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The filings are the final part of an approval process before the spot Ether ETFs are allowed to be publicly traded, an event that SEC Chair Gary Gensler <a href="/news/sec-chair-spot-ether-etf-s1-approvals-summer">believes will happen</a> “sometime over the course of this summer.”
On May 23, the SEC <a href="https://cointelegraph.com/news/sec-spot-ether-etf-approved">approved 19b-4 filings</a> from eight Ether ETF bidders, but the applications require Form S-1 approvals before the <a href="https://cointelegraph.com/news/sec-spot-ether-etf-approved">ETFs can begin trading on U.S. exchanges.</a>
Related: <a href="https://cointelegraph.com/news/spot-ethereum-etf-ether-eric-balchunas-bloomberg">Spot Ethereum ETFs may begin trading by July 2 — Bloomberg analyst</a>
The amended filing comes on the same day that the SEC dropped its investigation into whether Ether is a security.
“The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,” <a href="https://cointelegraph.com/news/sec-to-drop-ethereum-investigation-says-consensys">Ethereum developer Consensys</a> said in a June 19 X <a href="https://x.com/Consensys/status/1803230653120659641" target="_blank" rel="noopener nofollow">post</a>.
“This means that the SEC will not bring charges alleging that sales of ETH are securities transactions,” the firm explained.
Magazine: <a href="https://cointelegraph.com/magazine/spot-ethereum-etf-ether-price-bitcoin-patrick-scott-dynamo-defi-hall-of-flame/">Ethereum’s recent pullback could be a gift: Dynamo DeFi, X Hall of Flame</a>

Bitwise amended Ethereum ETF filing says Pantera interested in $100M buy

Cointelegraph

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