The highly anticipated launch of a spot Ethereum Exchange-Traded Fund (ETF) in the United States has hit a temporary roadblock, as the Securities and Exchange Commission (SEC) has requested spot Ethereum ETF issuers to revise their recently submitted S-1 forms. This delay has sent ripples through the cryptocurrency market, with Ethereum (ETH) price facing the risk of a potential decline.

According to sources familiar with the matter, the SEC has asked the spot Ethereum ETF issuers to resubmit their S-1 forms by July 8th, effectively pushing the launch of these ETFs to mid-July or even the end of the month. This development comes as a surprise, given the recent comments from SEC Chair Gary Gensler, who had expressed optimism about the approval process for spot Ethereum ETFs.

The delay in the Ethereum ETF launch has left market participants in a state of limbo. ETFstore President Nate Geraci had previously noted that the last round of S-1 revisions was relatively "light," and the regulator was expected to clear the issuers for trading within the next 14-21 days. However, the SEC's latest move has thrown a curveball, leaving the exact timeline for the Ethereum ETF launch uncertain.

The impact of this delay is already being felt in the cryptocurrency market. Ethereum price has fallen by over 1% in the past 24 hours, with the price currently trading at $3,384. The trading volume has also decreased by 8% during the same period, indicating a decline in investor interest.

While this delay may be seen as a setback for Ethereum enthusiasts, it could also present an opportunity in disguise. The postponement of the Ethereum ETF launch may provide a chance for investors to accumulate ETH at relatively lower prices, potentially positioning themselves for a more substantial rally once the ETF is eventually approved and launched.

As the crypto community awaits the SEC's final decision, the Ethereum ecosystem remains resilient, with ongoing developments and advancements that could continue to drive the token's long-term growth. The delay in the Ethereum ETF launch may be a temporary hurdle, but the underlying fundamentals of the Ethereum network remain strong, offering a glimmer of hope for investors in the face of this regulatory setback.