Asset management company Bitwise reviewed the investment fund’s Form S-1 registration statement

Asset management firm Bitwise reviewed the Form S-1 registration statement for its Ethereum (ETH) exchange-traded fund (ETF), which included a potential $100 million investment in the ETF during the launch of the negotiation.

Bitwise’s June 18 filing with the U.S. Securities and Exchange Commission (SEC) states that investment firm Pantera Capital Management “has expressed interest in purchasing a total of $100 million of shares” in the ETF.

“However, because expressions of interest do not constitute binding agreements or commitments to purchase, these potential buyers may decide to purchase more, fewer or no shares,” the filing said.

Form S-1 is a document filed with the Securities and Exchange Commission (SEC) before a security begins trading and includes information about financial statements, operations, and risk analysis.

File Form S-1 from Bitwise. Source: SEC

The filings are the final part of the approval process before public trading of Ethereum ETFs is permitted, an event that SEC Chairman Gary Gensler predicts will happen “over the summer.”

On May 23, the SEC approved 19b-4 filings from eight bidders for Ethereum ETFs, but the applications require Form S-1 approval before the ETFs can begin trading on U.S. exchanges.

about: Ethereum ETFs Could Start Trading by July 2 – Bloomberg Analyst

The revised filing comes the same day the SEC dropped its investigation into whether Ethereum serves as collateral.

“The SEC’s Enforcement Division has informed us that it is closing its investigation into Ethereum 2.0,” Ethereum developer Conscience said in a June 19 post.

“This means that the SEC will not bring charges alleging that ETH sales are securities transactions,” the company explained.

review: Recent Ethereum Pullback Could Be a Gift: Dynamo DeFi, X Hall of Flame

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