SEC Takes Surprising Action in Approval Process for Ethereum ETF

The SEC surprised everyone by sending back S-1 forms to the issuers of spot Ethereum ETFs, as part of the approval process. A source from one of the issuers informed The Block that the forms were returned with a request for minor adjustments, and the issuers were instructed to resolve the identified issues and submit the revised forms again. This development indicates that there could be delays in the approval of spot Ethereum ETFs, and it is likely that another round of filings will be necessary before the ETFs can be traded.