According to a report cited by “The Block,” the U.S. Securities and Exchange Commission (SEC) has rejected the S-1 form submitted by the issuer of a potential Ethereum ETF. As per a source familiar with the issuer, the rejected forms came with straightforward feedback, and the issuer has been asked to address these comments and resubmit them by July 8.
Insiders note that this initial rejection of the forms does not mark the end of the submission process. This implies that at least one more round of document submission will be required before the Ethereum spot ETF can commence trading.
The S-1 form constitutes the second step in the two-step process for listing an ETF. In the first part, the issuer’s 19b-4 form was approved ahead of a crucial deadline in May. However, the processing of the S-1 form is not bound by any specific deadline, as the speed of handling lies with the SEC.
SEC Chairman Gary Gensler previously indicated in mid-June that the S-1 document for the Ethereum spot ETF was expected to receive approval by the end of this summer, though he did not provide a more precise timeline.
