Bitwise Asset Management yesterday amended their application for a spot Ethereum (ETH) ETF with the US Securities and Exchange Commission (SEC). This adjustment comes after intensive feedback from the American regulator.
The amended filing also contains interesting information about a potential massive partnership with Pantera Capital.
Pantera Capital shows interest in Ethereum ETF
The amended application contains information about a potential investment by Pantera Capital Management in the Bitwise ETF. For example, Pantera is said to have “expressed interest in purchasing up to $100 million in shares.” But “since indications of interest are not binding agreements or commitments to purchase, these potential buyers may decide to purchase more, fewer, or no shares.”
The adjustment also concerns details about the methodology, finances and risk management. The goal is to inform the SEC of the presence of a robust framework that meets the highest security standards.
Pantera Capital is one of the most prominent investors in the crypto sector. Although interest in the Ethereum ETF is tentative, it marks an important strategic move given the potential of the market for spot Ethereum ETFs.
Pantera Capital is already known for their aggressive investment strategy in the crypto market. This move by the financial institution reflects the high confidence in the upcoming Ethereum spot ETFs.
Interest in Ethereum is increasing
The announcements from both Bitwise and Pantera Capital come at a crucial time for the crypto market. Despite the cautious crypto market, interest in Ethereum continues to grow. The upcoming Ethereum spot ETF is of course an important catalyst in this regard.
A spot Ethereum ETF would be a big step toward broader adoption of Ethereum as a legitimate asset class. It could also mean a new influx of capital, which could significantly increase the price of Ethereum as we saw with the launch of the Bitcoin ETFs earlier this year.
The adjustments by Bitwise and the strategic investments of Pantera Capital send a clear signal: the market for spot Ethereum ETFs is in full swing and appears ready for a new chapter in the institutional adoption of cryptocurrencies. According to SEC Chairman Gary Gensler, the Ethereum ETF will hit the market “sometime this summer.”
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Source: https://newsbit.nl/grote-financiele-speler-toont-interesse-in-bitwise-ethereum-etf/
