Eric Balchunas, an analyst at Bloomberg, said in an X post: "It is understood that issuers are still waiting for comments from the SEC's Corporate and Finance Department on their S-1 filing two weeks ago, which is reviewing the documents for the first time. Why? Because (most likely) they were surprised by the last minute political turn. It is unclear whether they prioritize this work and may need to delay my previous prediction that the spot Ethereum ETF S-1 will be approved around July 4." Previously, the SEC chairperson said at the hearing that the document could be approved this summer, but did not specify a specific date.