Eric Balchunas, a senior ETF analyst at Bloomberg, stated that the U.S. Securities and Exchange Commission (SEC) has requested issuers of prospective spot Ethereum exchange-traded funds (ETFs) to re-submit their S-1 forms by July 8. This re-filing requirement delays the launch of these Ethereum ETFs to mid-July or later, instead of the initially expected date of July 2. SEC Chairman Gary Gensler mentioned to the Senate last month that spot ETH ETFs would be approved "this summer."

The SEC has returned the forms with minor comments, as reported by a source from one of the issuers to The Block. The issuers must address these comments in the latest revisions, and this may not be the final submission, suggesting more exchanges between the SEC and issuers might occur.

Approval of the S-1 forms is the second phase in launching spot Ethereum ETFs. The first phase involved the 19b-4 forms, which the SEC approved in May. Unlike the 19b-4 forms, the S-1 forms do not have a set deadline, meaning the timing of the spot ETH ETFs' launch depends on how long the SEC takes to review and approve the S-1 forms.

In the most recent revision in June, issuers updated their registration statements. Franklin Templeton disclosed a sponsor fee of 0.19% and offered free trading for the first $10 billion in assets for six months. VanEck updated its filing to show a 0.20% sponsor fee and plans to waive this fee for the first $1.5 billion in assets.

Issuers also disclosed seed investments in the last round. Invesco Galaxy announced a $100,000 seed investment on June 17, buying 4,000 shares at $25 each. Grayscale revealed a similar $100,000 investment for its mini Ethereum trust, with the sponsor acquiring 10,000 shares at $10 each on May 31. Fidelity's seed capital investor, FMR Capital, bought 125,000 shares at $37.99 each on June 4, contributing $4.7 million. Previously, BlackRock reported $10 million in seed funding for its ETF.