Bitwise updated its registration form for its spot Ethereum ETH -0.46% exchange-traded fund as the asset management firm, among others, waits for the go-ahead from the U.S. Securities and Exchange Commission to list and trade those products. 

Bitwise included some new details in its updated S-1 form for the Bitwise Ethereum ETF, including language about a $2.5 million seed investment. 

"Bitwise Investment Manager, LLC, an affiliate of the Sponsor, is expected to purchase the initial Baskets of Shares for $2,500,000, at a per-Share price of $25 for these 100,000 Shares (the 'Seed Baskets')," the firm said. 

Bitwise said Pantera Capital Management LP is interested in buying up to $100 million of shares. 

"However, because indications of interest are not binding agreements or commitments to purchase, these potential purchasers could determine to purchase more, fewer or no Shares," the asset management firm said. 

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Bitwise is the latest to update its form after the SEC approved 19b-4 forms for eight Ethereum ETFs last month. Issuers still need their S-1 statements to become effective before trading can begin. 

"No way to know when these things will launch based off of this filing," said Bloomberg ETF analyst James Seyffart in a post on X on Tuesday. "Might not require any additional updates, might require tweaks. But they need final SEC approval." 

Seyffart predicted that the spot Ethereum ETF products would launch before July 4, but added that it is up to the SEC. 

Some ETF issuers received comments from the SEC last week on their S-1 forms with a deadline of this Friday to get them turned around, according to reporting from The Block.