VanEck and Bitwise said the two investment firms are seeding their Bitcoin ETFs with $72.5 million and $500,000, respectively, according to S-1 documents filed with the SEC on Monday.

S-1 forms disclose important information to the financial regulator, such as the company’s business model, financial statements, details about its management team, and any legal or competitive risks.

Seeding, or seed capital, refers to funds provided to launch an Exchange Traded Fund (ETF). While banks and broker-dealers often provide seed capital, ETFs can self-seed with new capital or existing assets, as in this case.

In addition to its $500,000 seed basket, Bitwise—which claims to be the largest crypto index fund manager in America—is offering up a $200 million investment opportunity, with investment firm Pantera Capital among potential purchases.

“Pantera Capital Management LP, through one or more of its affiliated investment funds, has indicated an interest in purchasing an aggregate of up to $200 million of Shares in this offering from Authorized Participants or in the marketplace through broker-dealers,” Bitwise

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Author: Jason Nelson

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