The Bitwise Ethereum ETF recorded a seed investment of $100 million in Pantera interest and filings.

Cryptocurrency index fund manager Bitwise Asset Management said Pentra Capital Management LP plans to invest $100 million in equivalent stocks once the SEC approves an Ethereum ETF for trading.

The details were in an amended version of the Bitwise S-1 registration form filed with the Securities and Exchange Commission for the Bitwise Ethereum ETF. The filing also states that Bitwise has secured seed capital worth $2.5 million for the ETF. Seed capital is required prior to the launch of an ETF and is typically provided by institutional investors.

This follows an update from rival BlackRock, which secured $10 million in seed capital for iShares Ethereum Trust (ETHA) in late May.

The revised Bitwise filing indicates that because having an interest in a particular investment is not a legal commitment, depending on market conditions, potential buyers may buy more, buy less, or even walk away when trading begins.

However, it added that if Pantera Capital Management buys the shares as promised, they will not be able to trade them on the open market during the six-month lock-up period after the purchase.

These shares may only be disposed of through redemption or transactions with one or more authorized entities.

Final submission is the final step in the approval process before a spot Ether ETF becomes public. SEC Chairman Gary Gensler believes this will happen soon.

Ethereum is currently trading around $3,557 and is up nearly 4% in the last 24 hours, according to Binance spot trading data. This could be a sign that traders think Ethereum is winning Gensler’s regulatory battle with the SEC.

Consensys shared a report last night stating that the SEC’s enforcement division has closed its investigation into “Ethereum 2.0.” This is an acronym for Ethereum after the merge, when the network switches from proof-of-work to proof-of-stake consensus.

With the investigation halted, the SEC will not file charges, claiming the ETH sale was a securities transaction.

“Today we are excited to announce a major win for Ethereum developers, technology providers, and industry participants. “The SEC Enforcement Division has notified us that it is terminating its investigation into Ethereum 2.0,” the company posted on Twitter last night. “This means the SEC will not prosecute ETH sales for claiming they were securities transactions.”

Edited by Stacey Elliott.