According to PANews, potential issuers of Ethereum ETFs are eagerly awaiting feedback from the U.S. Securities and Exchange Commission (SEC) on their upcoming products. This comes after the submission of their latest S-1 forms on July 8. An insider from one of the issuers stated that the next step is to wait for the SEC's feedback to determine their next course of action, including whether a final draft is needed and when it would be required. They noted that the SEC's feedback would be highly valuable.
After the approval of the 19b-4 forms in May, issuers have been in constant communication with the SEC regarding the second part of the two-step process - the S-1 forms. Unlike the first form, the S-1 form does not have an effective deadline but still needs to be submitted before the ETF is listed. The SEC has repeatedly provided feedback to issuers for form modifications, with each round of changes taking several weeks.
However, issuers are beginning to hope that this process may soon come to an end. An insider from another issuer stated, 'The SEC is still reviewing, and we seem to be getting closer to final approval. We expect to submit a final document, but the exact timing is unclear.' It was previously reported that the last round of document submissions was based on minor feedback from the SEC, which could be the final round of feedback.
Analysts generally expect these products to be launched soon. Eric Balchunas, a senior ETF analyst at Bloomberg, pointed out that all signs indicate a launch this month.