Yes, the title says it all. The iPhone Dev Team is waiting for Verizon to release iPhone 4 then the iPhone Dev Team will definitely release the iOS 4.2.1 unlock. An active member of iPhone Dev Team said on Twitter that the iOS 4.2.1 untethered unlock will be released after the Verizon iPhone release. The Verizon’s iPhone is expected on 11th of this month. This was confirmed by the WSJ as well.

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So we all have to wait for the Verizon to release the latest iPhone 4, after that iPhone Dev Team will get into action to bring us with the iOS 4.2.1 untethered unlock. Folks out there are waiting for a long time for this unlock and it *could be* yet another excuse from the iPhone Dev Team but we hope that they will come up with something for happiness of the fans.

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