U.S. regulators announced that they require additional time to decide whether an exchange-traded fund (ETF) designed as a comprehensive crypto portfolio can be listed on Nasdaq’s electronic securities exchange, according to an August 9 regulatory filing.

This filing responded to Nasdaq’s June request for permission to list the Hashdex Nasdaq Crypto Index ETF on its electronic exchange.

If approved, the Hashdex Nasdaq Crypto Index ETF would become the first diversified spot crypto ETF in the U.S. market. It would also be the first U.S. ETF to include alternative cryptocurrencies, or “altcoins.”

The ETF aims to track the Nasdaq Crypto US Index (NCIUS), which includes a diverse portfolio of cryptocurrencies weighted by market capitalization. According to the ETF’s registration filing, the holdings include core digital assets like Bitcoin (BTC) and Ether (ETH) as well as altcoins like Chainlink (LINK) and Uniswap (UNI). Notably, approximately 95% of the index is comprised of ETH and BTC.

Before this ETF can be traded, the Securities and Exchange Commission (SEC) must approve its registration application, known as an S-1, and allow at least one public equities exchange, such as Nasdaq, to list the product.

On August 6, Nasdaq submitted a similar filing to U.S. regulators, requesting permission to list options on Ethereum (ETH) ETFs. To date, the SEC has not permitted any exchanges to list options on spot BTC or ETH ETFs.

If approved, Nasdaq’s request would enable options trading exclusively for BlackRock’s iShares Ethereum Trust (ETHA), the only ETH ETF listed on Nasdaq’s electronic exchange. Other ETH ETFs are listed on the New York Stock Exchange’s (NYSE) Arca or Cboe.

In July, the SEC informed several options exchanges, including Nasdaq ISE, that more time was needed to make a decision on their requests to list options on spot BTC ETFs.

Bitcoin and Ether ETFs were first introduced in the U.S. in January and July, respectively, and now manage approximately $65 billion in assets, according to Yahoo Finance.