US SEC requires Ethereum spot ETF issuers to submit first round of S-1 draft forms by Friday

Odaily Odaily News: According to two sources, the SEC requires issuers to submit draft S-1 documents by Friday. After that, the SEC will provide a first round of comments and eventually make further revisions. VanEck immediately submitted a revised version of its S-1 form on the day the ETF was approved. On May 30, BlackRock followed suit, detailing that its ETF would use $10 million as seed funding. The details of the seed investment are fairly simple for issuers, which means that other aspects of the form may take longer to resolve. They said that the S-1 form is expected to be ready after at least two more rounds of draft submissions.