TechFlow reported that according to a regulatory document on August 9, US regulators said that more time is needed to decide whether exchange-traded funds (ETFs) designed as one-stop cryptocurrency portfolios can be listed on the Nasdaq Electronic Stock Exchange. This decision is a response to the listing application submitted by Nasdaq in June.

If approved, the ETF will be the first diversified spot cryptocurrency ETF in the U.S. market and the first U.S. ETF to include alternative cryptocurrencies (i.e., “altcoins”). The ETF aims to track the Nasdaq Crypto US Index (NCIUS), which includes a diversified portfolio of cryptocurrencies weighted by market capitalization.