According to The Block, two sources revealed that ETF issuers received comments from the U.S. Securities and Exchange Commission (SEC) on their S-1 forms last week, with a response deadline set for this Friday.
Although the issuer’s 19b-4 form was approved in May, they still need the S-1 form to become effective before they can start trading. There is no strict deadline for this process, the forms are currently being revised and sent back to the SEC for further feedback, and then revised again until they are ready.
One source from an issuer stated that the latest round of feedback was “reasonable”, and they expect approval soon, while another source from a different issuer described the feedback as “relatively easy”.
The second source mentioned, “I expect the issuers to submit the application quickly this week, and then we will know how many rounds of review are still needed.”