The US Securities and Exchange Commission (SEC) has returned S-1 forms to prospective Ethereum ETF issuers in the latest round of communications before they can be approved, The Block has reported.
According to a source, the forms were returned with minor comments and issuers have been given until July 8 to address and resubmit them.
This is not the last step in the process, as there will likely be at least one more round of submissions before the ETFs can officially begin trading.
The source has described the process as a "winding path." The S-1 forms are the second step in the two-part process to launch ETFs, with the first step being the approval of issuers' 19b-4 forms in May.
While it was initially reported that the ETFs could launch on July 4, this is no longer possible. At this time, issuers remain uncertain as to when the ETFs may launch, as it depends on how quickly the SEC can review and approve the final forms.