Next investment firm applies – the race for Bitcoin ETF is entering the next round

Similar to 2018, several investment firms are currently applying for a Bitcoin index fund with the SEC.

Valkyrie Digital Assets brings back memories of 2018, because the investment firm has now also applied for a Bitcoin index fund (ETF) with the US Securities and Exchange Commission.

This means that the race for a Bitcoin ETF has fully flared up again, as it was two years ago

The Texas-based investment firm applied on Friday to list the Valkyrie Bitcoin Trust on the New York Stock Exchange (NYSE). However, no ticker symbol is shown in the application.

However, the chances that the application will be granted are slim, because during the last Immediate Bitcoin record run several investment firms tried to get a Bitcoin ETF approved, including established ETF traders such as VanEck, Direxion and the Gemini crypto exchange, run by the Winklevoss twins.

In a previous interview with Cointelegraph, cryptoin CEO Donnie Kim, whose company had entered a Bitcoin ETF in October 2019, confirmed that the SEC is reluctant to wave through applications.

So he said at the time:

“First of all, the stock exchange supervisory authority wants to learn to understand this new asset class, which is why it uses delaying tactics to create waiting time. With this she wants to find out on the one hand which problems arise from existing Bitcoin financial products and on the other hand she hopes for legal requirements from politics. “

Although the American stock exchange regulator is known to react negatively, investment firms keep trying to get a Bitcoin ETF approved, especially in times of crypto hype .

On January 21, asset management company VanEck, which was one of the first investment firms to ever apply for a Bitcoin ETF, submitted another application to the SEC, whereby companies from the crypto industry are to be mapped in the relevant index fund.

Although no Bitcoin ETF has yet been approved in the USA, the Swiss Exchange has already listed several Bitcoin ETPs that are similar to an ETF. In addition to comparable crypto investment products from Grayscale, an Ethereum ETF was recently issued in Canada , which is very popular.