Bitwise, one of the companies whose Bitcoin spot ETF was approved by the SEC and is also awaiting approval for its Ether spot ETF product, submitted its S-1 filing update to the agency. The investment management company added new details to its S-1 filing and announced that it will purchase $2.5 million from this fund.

“Bitwise Investment Manager, a subsidiary of the issuer of the ETF, is expected to purchase 100 thousand shares at a price of $25 per share, reaching a total of $2.5 million,” the statement said.

Pantera may purchase $100 million

On the other hand, there was another very important detail in Bitwise’s statement. In the notification to the SEC, it was stated that crypto fund management firm Pantera Capital also aims to purchase $ 100 million from the Bitwise Ether spot ETF.

However, a cautionary note was added to the notification and “Nevertheless, the fact that there is an interest in the purchase does not indicate that the purchase will be made definitively. Prospective buyers may purchase more or less, or they may completely abandon the purchase.”

As it is known, the SEC approved 19b-4 filings for Ether spot ETFs in May. In order for the funds to be opened for trading, the institution must also approve the files known as S-1. Bitwise is the latest Ether ETF issuer to update its S-1 filing.

James Seyffart, Bloomberg’s ETF analyst, said he expects Ethereum spot ETFs to open for trading before July 4.