The process of launching Ethereum ETFs (Exchange-Traded Funds) has hit a roadblock. The US Securities and Exchange Commission (SEC) has returned the S-1 forms filed by ETF companies with minor comments, requiring them to re-file by July 8. However, this won't be the final step, and at least one more round of filings will be necessary before the ETFs can start trading.

According to an insider source, the SEC's review process is moving slowly, and there is no specific deadline for approving the S-1 forms. This uncertainty has left issuers in the dark about when the ETFs will finally go live. Initially, there were hopes that the ETFs would start trading as early as July 4, but that timeline is no longer feasible.

The S-1 forms are part of a two-step process for ETFs to become operational. In May, the SEC approved the 19b-4 forms, but the S-1 forms are not bound by a specific deadline. This has resulted in a waiting game for issuers, who are dependent on the SEC's review pace.

The delay in launching Ethereum ETFs may be frustrating for investors, but it's essential to ensure that all regulatory requirements are met. The SEC's thorough review process aims to protect investors and maintain market integrity.

In conclusion, the launch of Ethereum ETFs has been delayed due to the SEC's slow review process. While this may be disappointing for investors, it's crucial to prioritize regulatory compliance. Issuers will need to re-file their S-1 forms and await further instructions from the SEC before the ETFs can finally start trading.