Although the SEC approved the applications of 8 companies, the S-1 forms required for the start of transactions must also be approved. This means that even if spot Ethereum ETF transactions are given the green light, transactions will not begin immediately. The regulatory body will next begin negotiations on ETF issuers' S-1 forms. It is not yet clear how long this process will take. Some commentators think it could be weeks before the SEC launches Ethereum ETF trading.