Ethereum Files in the USA Updated: $100 Million Potential Investment!

Asset investment firm Bitwise has updated its filings with the SEC to establish a spot Ethereum ETF.

Some new details were included in the files submitted by Bitwise to the US Securities and Exchange Commission (SEC).

$2.5 million investment

“Bitwise Investment Manager, LLC, affiliated with the Sponsor, is expected to purchase 100,000 lots for $2,500,000 as an initial basket at $25 per lot,” Bitwise said.

Bitwise and other issuers are waiting for the SEC to give final approval for spot Ethereum ETFs. Allegedly, issuers plan to respond to the SEC's requests by the end of this week.

Bitwise also stated that it is considering purchasing up to $100 million in lots from Pantera Capital Management LP's spot Ethereum ETF.

The history of ETFs is still unknown

Since there is no binding agreement between Bitwise and Pantera, the company may purchase more or less than this given amount. It is also possible that Pantera will not invest at all.

The SEC unexpectedly approved issuers' 19b-4 filings last month. S-1 filings also need to be approved for Spot Ethereum ETFs to enter the market.

Bloomberg ETF analyst James Seyffart said it is not possible to predict when ETFs will be established based on the filings submitted to the SEC so far. Seyffart believes they could be approved before July 4th.