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Pantera Capital Interested in investing $100 million in… BitwiseSpot the Ethereum (ETH) ETF as seed capital if the funds are approved to be launched.
Bitwise on June 18 Amendment S-1 It states that Pantera has “indicated its interest” in purchasing the shares. Pantera will purchase shares from authorized market participants or intermediaries through at least one of its investment funds.
If Pantera or its affiliates proceed with the purchase under the interest signal, they will not be able to sell shares in an open market sale for six months. However, they may dispose of shares in a redemption transaction with authorized participants.
Pantera has neither entered into a binding agreement nor committed to purchase. You can invest more or less than $100 million or nothing at all.
Pantera is bullish on Ethereum ETF
in June 18 In a letter to investors, Pantera Capital CEO Dan Moorhead and other employees wrote that Ethereum ETFs could attract a “significant influx of new investors” who had previously been excluded for compliance reasons or brokerage account restrictions.
The company believes that some investors may be more interested in and able to understand Ethereum’s reputation as a “tech platform” than Ethereum’s. Bitcoin “Digital gold” status.
The company also acknowledged arguments that Ethereum has underperformed over the past year and a half, which could make the asset a “strong candidate for trading.”
Pantera added that ETFs could have a “surprise upside” due to lower expectations around inflows, but acknowledged the potential for significant outflows.
The company indicated this Grayscale An ETHE Fund may experience outflows when it begins trading as an ETF. However, the outflows could be “less significant” than GBTC’s early grayscale outflows due to the lower number of forced sellers.
His name is Pantera Three capital shares (3AC) and originwhich declared bankruptcy in 2022 and 2023 respectively, as sellers were forced to unload their GBTC holdings.
Let go of influences
Finally, Pantera said immediate approvals for ETH ETFs could have broader “spillover effects,” including market growth and diversification benefits. According to the company:
“The increased interest in ETH may extend to the broader world of protocols as investors explore Ethereum as a technology platform.”
She added that ETH approvals could lead to greater integration with mainstream financial products, making blockchain “just another asset class” alongside the thousands of other existing securities that registered investment advisors (RIAs) handle.
Pantera also suggested that the recent approvals could lead to ETFs exploring other crypto tokens. Executives in JP Morgan, BernsteinAnd Kabwe Likewise, they discussed the possibility of creating other cryptocurrency ETFs, expressing varying levels of optimism.
