According to a report by The Block citing insiders, the U.S. Securities and Exchange Commission (SEC) has returned the S-1 forms submitted by a potential Ethereum ETF issuer. According to a source familiar with the matter, the returned forms came with simple comments, and the issuer has been asked to address these comments and resubmit them by July 8th.
Insiders pointed out that when these forms are returned, it is not the final submission, which means that at least one more round of document submission is needed before the Ethereum ETF can finally begin trading.
The S-1 form is the second step in the two-step process of listing an ETF. In the first part, the issuer’s 19b-4 form was approved before the critical deadline in May. However, the S-1 form is not bound by any specific deadline, and the timing of its approval depends on the SEC’s processing speed.
SEC Chairman Gary Gensler previously stated in mid-June that he expects the S-1 documents for an Ethereum ETF to be approved by the end of this summer, but he did not provide a more specific timeline.