According to PANews, two people familiar with the matter revealed that Ethereum spot ETF issuers are still waiting for comments from the U.S. Securities and Exchange Commission (SEC) after submitting the first round of S-1 form drafts on May 31. Issuers originally expected the SEC to comment on these drafts on June 7, however, at least two issuers have not received any feedback.
A person familiar with the matter said they now expect a response this week. SEC Chairman Gary Gensler said it would "take some time" to approve the S-1 form. It is unclear how long the process will take. A source previously said they expect the S-1 form to go through at least two more rounds of draft documents before it is ready.
