Ethereum

Bitcoin ETF

Million

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/pantera-capital-plans-to-purchase-100-million-worth-of-ethereum/" data-wpel-link="internal">Pantera Capital Plans to Purchase $100 Million Worth of Ethereum</a><br></p>
<p style="text-align: justify">“I have good <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> and bad news for you. The good news is; we are not dead yet. The bad news is we are still alive,” said Anton Chekhov. With the declines we experienced during the Eid al-Adha, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> probably said we are still alive. However, the good news is that the cryptocurrency world is not dead yet. The good news came from Pantera Capital. Let’s look at the details together.</p> 
<h2 style="text-align: justify" id="pantera-capital-to-buy-100-million-worth-of-ethereum">Pantera Capital to Buy $100 Million Worth of Ethereum</h2> 
<p style="text-align: justify">Pantera Capital, one of the companies frequently mentioned in the cryptocurrency field, announced its intention to purchase $100 million worth of <a href="https://en.coin-turk.com/ethereums-market-movement-and-investor-behavior/" data-wpel-link="internal">Ethereum</a> (ETH) when Bitwise’s spot ETH ETF starts trading.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-363264 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/ethereum-23.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify">Bitwise, in its amended filing, stated that it allocated $2.5 million in fiat currency for the ETF but has not yet purchased Ethereum itself. According to the documents included in the filing, Pantera Capital, through its affiliated investment funds, expressed interest in purchasing up to $100 million worth of shares in this offering.</p> 
<h2 style="text-align: justify" id="what-does-the-100-million-purchase-mean">What Does the $100 Million Purchase Mean?</h2> 
<p style="text-align: justify">To make a comparison for the $100 million investment, let’s remember that Bitwise allocated $200 million for its Bitcoin ETF at that time. In this case, the amount allocated for Ethereum corresponds to 50% of the amount allocated for Bitcoin.</p> 
<p style="text-align: justify">The next important issue will be how much inflow will be into Ethereum ETFs. In the process, we will clearly see the inflow and outflow figures for spot Ethereum ETFs alongside the inflows and outflows for spot Bitcoin ETFs.</p> 
<h2 style="text-align: justify" id="other-highlights-in-the-filing">Other Highlights in the Filing</h2> 
<p style="text-align: justify">One topic that caught our attention in the filing submitted by Bitwise is the exchanges shown as the counterparties for Ethereum trading. Interestingly, Kraken was preferred over Coinbase. Accordingly, Kraken will provide custody services for the Ethereum.</p> 
<p style="text-align: justify">It is well known that Ethereum ETFs have received approval in principle. This development is also supported by ConsenSys’s announcement that the U.S. Securities and Exchange Commission (SEC) has dropped its investigation into whether Ethereum’s transition to Proof of Stake (PoS) classifies it as a security.</p> 
<p style="text-align: justify">This decision effectively confirms Ethereum’s status as a commodity. Additionally, significant regulatory uncertainty for the cryptocurrency ETH has been eliminated. In light of all these positive developments, analysts are optimistic that the SEC will approve the ETF prospectuses by July 2, paving the way for trading to begin.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/pantera-capital-plans-to-purchase-100-million-worth-of-ethereum/" data-wpel-link="internal">Pantera Capital Plans to Purchase $100 Million Worth of Ethereum</a></h5>

Pantera Capital Plans to Purchase $100 Million Worth of Ethereum

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