The SEC requires Ethereum spot ETF issuers to submit the first draft of the S-1 form by Friday

ChainCatcher news, according to The Block, two insiders revealed that the SEC has requested issuers to submit the S-1 draft by Friday. After that, the SEC will provide the first round of comments and ultimately make further modifications.

On the day the ETF was approved, VanEck immediately submitted a revised version of its S-1 form. On May 30, BlackRock followed suit, detailing that its ETF would use $10 million as seed capital.

The details of the seed investment are quite straightforward for the issuers, which means that other aspects of the form may take longer to resolve. They indicated that the S-1 form is expected to go through at least two more rounds of draft submissions before it is ready.