An early July launch date for spot Ethereum exchange-traded funds (ETFs) looks increasingly likely, according to statements made by industry executives to Reuters on Wednesday.

The U.S. Securities and Exchange Commission (SEC) is reportedly in the final stages of reviewing offering documents by prospective issuers. Two executives from these firms said that only “minor” issues in these filings were still being ironed out.

In light of these talks between the securities regulator and asset managers reaching the closing stages, people with knowledge of the matter told Reuters that they expect a spot Ethereum ETF to be launched as early as July 4.

A lawyer for one of the issuers also said that it was “down to the finishing touches,” relaying optimism that the fund’s launch was no less than a week or two away.

BlackRock, Fidelity, VanEck and Franklin Templeton are among the eight issuers hoping to launch a spot Ethereum ETF next month, and have been laying the groundwork for their approval over the last few months.

Earlier this week, VanEck filed a form 8-A with the SEC, which is one of the standard filings that must be submitted before securities can be offered on an exchange. On the same day, SEC chair Gary Gensler noted that the process of reviewing issuer documents was “going smoothly.”

Industry watchers had largely mixed views on how a spot Ethereum ETF would affect the wider narrative around ether as an asset class. Some argued that the news was already priced in to the market, while others claimed that the event would trigger positive price momentum for the second largest digital asset.

Ethereum has recently turned inflationary after the fee-reducing Dencun upgrade took effect, leading to a lower amount of fees burned and a higher number of tokens in circulation. One area that market participants will likely be watching closely is the impact spot Ethereum ETFs will have on ether’s supply and demand dynamics.