The U.S. Securities and Exchange Commission (SEC) has returned S-1 forms to Ethereum (ETH) ETF companies in the final round of regulatory procedures before the ETFs go live.
According to a source at one of the issuers, the forms were returned with minor comments. Issuers were instructed to address these comments and re-file the forms by July 8. But this won't be the last filing. At least one more round of filings will be required before ETFs can finally begin trading.
“The process never ceases to be a winding road,” the source said.
The S-1 forms are part of a two-step process for ETFs to go live. In the first part of the process, issuers' 19b-4 forms were approved in May, before a key deadline. However, S-1 forms are not bound by a specific deadline, leaving issuers dependent on how quickly the SEC can review them.
While there were initial reports that ETFs could go live as early as July 4, that is now off the table. Issuers are still in the dark about when ETFs will go live. But they will have a clearer picture when the SEC sets a deadline for filing final filings.
*This is not investment advice.
