According to Foresight News, last week, the U.S. Securities and Exchange Commission (SEC) returned the S-1 form to its potential Ethereum ETF issuer in the latest round of review. The S-1 form is the second step in the two-step process for ETF listing. The issuer's 19b-4 form in the first step was approved on May 23. However, there is no specific deadline for the S-1 form, and issuers need to rely on the SEC's processing speed.