The Securities Exchange Commission has returned Form S-1 to potential Ethereum ETF issuers with a small number of comments asking them to address the issue and resubmit. The measures need at least one more round of review before they can take effect, the sources said, and issuers are understood to have been asked to process the comments and resubmit them by July 8. After the forms are returned, this will not be the final filing, the sources noted. That means at least one more round of filing is required before the ETF can finally begin trading.