Ethereum ETF issuers eagerly waiting on the SEC to provide details on potentially final filings: Sources

Prospective Ethereum ETH +1.41% ETF issuers are eagerly waiting on the U.S. Securities and Exchange Commission to provide updates on the pending launches after handing in their latest S-1 forms on July 8.

"The next step would be to hear from the SEC on what's next. Do they want final drafts? by when?" said a source at one issuer. They noted that what they hear from the agency next will be highly informative.

After their 19b-4 forms were approved in May , issuers have been engaged in a back-and-forth with the SEC over the second part of the two-step process: the S-1 forms. Unlike the first forms, the S-1s don't have a deadline to go effective, but they are still required before the ETFs can go live. There have been multiple rounds of the SEC providing comments for the issuers to revise their forms, with each round taking a few weeks.

However, issuers are starting to hope that the process might be nearing its end.

"The SEC is continuing its review and we appear to be getting closer to final approval," said a source at another issuer. "We expect one additional final filing, but the timing is unclear."

The Block previously reported the last round of filings was based on light comments from the SEC in what may have been the final round of feedback.

Analysts are largely expecting the products to be gearing up for an imminent launch, with Bloomberg Senior ETF Analyst Eric Balchunas noting that all indications point to a launch this month.