The United States Securities and Exchange Commission (SEC) has requested all applicants for spot Ether ETFs to submit their updated S-1 filings by May 31. This move indicates the SEC's active involvement in reviewing the filings and ensuring they meet the necessary requirements for trading on the spot exchange market.

The SEC's request comes after the approval of 19b-4 filings for eight applicants, with only one having filed an updated S-1 filing so far. This delay has led to uncertainty about the applicants applying for the ETH ETF. In contrast, applicants for Bitcoin spot ETFs were ready with their amended filings before approval, and trading began a day after approval.

The SEC's request is aimed at reviewing the drafts and commenting on the changes required to make them tradable. On May 31, Fidelity became the third applicant to file the updated S-1 filing following the SEC's request. This development is seen as a positive sign, indicating the SEC's dedication to listing the spot ETH ETF.

Meanwhile, Vanguard has withdrawn its application for a spot ETH ETF, citing that Ether ETFs are not aligned with building a well-balanced, long-term portfolio. Despite ETH's ability to convince other players, Vanguard maintains its platform ban on Ether ETFs.