The move comes after the SEC reportedly had concerns over the initial filings by Nasdaq as being unclear and incomplete

Nasdaq refiled an application with the U.S. Securities and Exchange Commission (SEC) to list an exchange-traded fund (ETF) by BlackRock Inc that will mirror the price of bitcoin to add more details, as per a filing made public on Monday.

The renewed filing, submitted to the U.S. securities regulator on Thursday, mentioned that Coinbase Global Inc will provide market monitoring in support of the planned exchange-traded fund from the world’s biggest asset manager.

The development comes after the Securities and Exchange Commission supposedly had concerns over the initial filings by Nasdaq as being indefinite and insufficient. It had flagged similar concerns to Cboe regarding a filing from Fidelity.

The digital asset sector is looking to reclaim popularity following a damaging 2022 that saw a number of crypto businesses fail, including the striking implosion of Sam Bankman-Fried’s FTX.

The Securities and Exchange Commission last month sued Coinbase for failing to register as an exchange. As per Cboe’s Fidelity bitcoin exchange-traded fund filing, the firm’s platform represented around half of U.S. dollar-bitcoin trading in May.

Coinbase stated in a letter filed in May in Manhattan federal court that it will ask a judge to dismiss the Securities and Exchange Commission lawsuit, claiming the regulator lacks authority to pursue civil claims as the crypto assets trading on its platform are not “investment contracts”, and therefore not securities.

The SEC has declined several spot bitcoin exchange-traded fund applications in recent years, including one from Fidelity in January last year.

In all the cases, the regulator stated the filings didn’t fulfil the criteria designed to stop deceptive and manipulative practices and safeguard investors and the public interest.