According to PANews, the U.S. Securities and Exchange Commission (SEC) has reportedly returned the S-1 form to a potential issuer of an Ethereum Exchange-Traded Fund (ETF). An insider revealed that the SEC has also provided a few comments, which the issuer is required to address and resubmit by July 8.
The source further noted that this return of the form does not signify the final declaration. This implies that at least one more round of declaration will be necessary before the ETF can commence trading. The SEC's move is part of its regulatory oversight to ensure compliance with its rules and regulations.
The potential issuer of the Ethereum ETF, whose identity has not been disclosed, is expected to address the SEC's comments and resubmit the form within the stipulated deadline. The SEC's decision to return the form with comments is seen as a step towards ensuring that all necessary requirements are met before the ETF is allowed to trade.
The Ethereum ETF, once approved, will provide investors with exposure to the price movements of Ethereum without the need to own the underlying asset. This development is seen as a significant step towards the mainstream adoption of Ethereum and other cryptocurrencies.