Bloomberg analyst Eric Balchunas wrote on X platform that "the issuer is still waiting for the SEC's comments on the S-1 submitted two weeks ago to the company and finance department. This department is reviewing these documents for the first time. Why? Because (most likely) a last-minute political change has caught them off guard. It is unclear whether they will prioritize this work, which may delay my previous prediction of the approval of the spot Ethereum ETF S-1 around July 4th."

Previously reported, the SEC chairman stated at a hearing that the document may be approved this summer, but did not specify a specific date.