Ethereum is experiencing an explosion: Bitcoin is back to 70,000
After the submission of the latest S-1 form on July 8, potential issuers of Ethereum ETFs (exchange-traded funds) are looking forward to it, eager to get the latest progress of the upcoming products from the U.S. Securities and Exchange Commission (SEC).
An insider from the issuer revealed his thoughts:
"The current focus is on the feedback from the SEC, and we urgently need to clarify the next direction of action. Do they still need us to submit a final draft? And when will this draft become necessary? Undoubtedly, the next instructions from the SEC will be an important beacon on our way forward."
Back in May, with the successful approval of Form 19b-4, issuers embarked on a close consultation journey with the SEC on the critical second step of Form S-1.
Unlike the first form, Form S-1 has no hard deadline, but it is an indispensable part before the ETF is listed. During this period, the SEC frequently made valuable comments, prompting issuers to make multiple rounds of revisions, and each round of revisions took several weeks.
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However, the dawn seems to be flickering not far away. An anonymous source from another issuer said optimistically: "The SEC's review is still in full swing, and we seem to feel the breath of the end is getting stronger. Although we cannot accurately predict the date of submission of the final document, we firmly believe that it will be a key step to success."
It is worth noting that Block's previous report mentioned that the previous round of document submissions was based on the SEC's mild feedback, which may indicate that this will be the end of the revision cycle.
