According to sources within the issuer community, the US Securities and Exchange Commission (SEC) has returned the S-1 forms to prospective Ethereum ETF issuers, marking another step in the complex process of getting these financial products approved.The SEC has provided light comments on the submissions, requiring issuers to address these points and refile by July 8.This latest round of communication indicates that at least one more round of filings will be necessary before the Ethereum ETFs can begin trading. The crypto community to wait longer for Ethereum ETF approvalThe S-1 forms are a critical component in the two-step process required for ETFs to go live.Earlier in May, issuers saw their Ethereum ETF 19b-4 forms approved, a significant milestone ahead of a key deadline. However, unlike the 19b-4 forms, the S-1 forms do not adhere to a specific deadline.The timeline for their approval is contingent on how swiftly the SEC can review and respond to the issuers’ filings.Initial reports had speculated that the Ethereum ETFs might be approved as early as July 4. However, this timeline has now been dismissed, and issuers remain uncertain about the exact date when the ETFs will be approved and ready for trading.The SEC’s detailed review process, characterized by multiple rounds of feedback and resubmissions, means that a precise launch date remains elusive. The SEC’s return of the S-1 forms with comments is part of the regulatory body’s rigorous review process.According to the sources within the issuer community, the feedback was relatively minor, but it underscores the meticulous nature of the SEC’s evaluation.The issuers are now tasked with revising their filings based on the SEC’s feedback and resubmitting them by the specified deadline.This iterative process is expected to continue until the SEC is fully satisfied with the submissions. Approval could come by this SummerEarlier, the SEC Chair, Gary Gensler, had indicated that the approval of Ethereum ETFs could happen “sometime over the course of this summer,” but refrained from providing a more specific timeline.This cautious approach reflects the SEC’s commitment to ensuring that all regulatory requirements are thoroughly met before the ETFs are allowed to enter the market.As the July 8 deadline approaches, all eyes will be on how quickly issuers can address the SEC’s comments and resubmit their S-1 forms.While the path to approval is undoubtedly complex and winding, the progress being made is a positive sign for the future of Ethereum ETFs.More By This Author:U.S. SEC Approves First Spot Ethereum ETFs: But Not Yet Ready For Trading ETH Explodes On Rumours Of SEC Reconsidering Spot Ethereum ETFMastercard And Standard Chartered Bank Hong Kong Tests Tokenised Deposits