According to The Block, the U.S. Securities and Exchange Commission (SEC) has returned the S-1 forms to the potential issuer of an Ethereum ETF, along with some comments, requesting them to address the issues and resubmit. Sources say that these measures will require at least another round of review before they can take effect. The issuer has been asked to address the comments and resubmit by July 8th. It is noted that the returned forms are not the final filing, indicating that at least one more filing will be required before the ETF can begin trading.