PANews reported on May 31 that The Block cited sources as saying that the U.S. Securities and Exchange Commission (SEC) requires potential Ethereum spot ETF issuers to submit a revised S-1 form by Friday. After that, the SEC will provide the first round of comments, and the issuer will then make further modifications. People familiar with the matter expect that the S-1 form will take at least two more rounds of draft submissions before it is ready. Analysts expect that the S-1 approval will take several weeks.