PANews reported on July 11 that according to The Block, after submitting the latest S-1 form on July 8, potential Ethereum ETF issuers are eagerly waiting for the U.S. Securities and Exchange Commission (SEC) to provide the latest news on upcoming products. A source from an issuer said: "The next step is to wait for the SEC's feedback to see what to do next. Do they need a final draft? When do they need it?" They pointed out that the SEC's next feedback will be of great reference value.
After Form 19b-4 was approved in May, issuers have been in a back-and-forth with the SEC on the second part of the two-step process, Form S-1. Unlike the first form, Form S-1 does not have an effective deadline, but it still needs to be filed before an ETF can go public. The SEC has provided issuers with comments several times to revise the form, and each round of revisions takes several weeks.
However, issuers are beginning to hope that the process may be coming to an end. Another source at an issuer said: "The SEC is still continuing its review and we seem to be getting closer and closer to final approval. We expect to submit a final document, but the exact timing is unclear." The Block previously reported that the last round of document submissions was based on minor comments from the SEC, and this may be the last round of feedback.
Analysts widely expect the products to launch soon, with Bloomberg senior ETF analyst Eric Balchunas noting that all signs point to a launch this month.