The U.S. Securities and Exchange Commission has returned the Forms S-1 to potential issuers of the Ethereum ETF after reviewing them.
According to a source familiar with the matter, the forms were returned with minor comments and issuers have until July 8 to fix them and resubmit them.
The move indicates that it will take at least one more round of filings before ETFs can begin trading.
The Forms S-1 represent the second phase in the ETF approval process, following the approval of issuers’ Forms 19b-4 earlier in May.
Unlike Forms 19b-4, there is no specific deadline for filing S-1s, so the timeline depends on the speed of processing by the SEC.
Initial expectations for a July 4 ETF launch fell through, and issuers are awaiting further guidance from the SEC on when final documents will be filed.
SEC Chairman Gary Gensler has already hinted at possible approvals over the summer, but specifics remain unclear.
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