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In a move that could give seasoned investors flashbacks to 2018, Valkyrie Digital Assets is the latest asset manager to file a registration with the SEC to form a Bitcoin ETF – an offer that joins a busy field of potential fund managers who want take advantage of renewed retail interest in cryptocurrencies.

Posted Fridaythe Texas-based family investment fund suggested listing the Valkyrie Bitcoin Trust on the New York Stock Exchange. The application did not contain a possible trade sticker.

However, if history is any indication, the chances of the filing to lead to a tradable fund are slim. During the latest Bitcoin bull run, several companies at least tried to throw their hats in the ring Nine entities filed proposals for a Bitcoin ETF with the SECincluding ETF giants VanEck and Direxion, as well as Gemini, the crypto services company formed by Cameron and Tyler Winklevoss.

In a previous interview with Cointelegraph, Kryptoin CEO Donnie Kim, whose company applied for an ETF in October 2019, says the SEC has long been hesitant to go ahead with proposals.

“Right now the committee is listening to and learning about this new asset class and are in a holding pattern, partly to understand the implications of the existing products on the market and partly to seek further guidance in the current political landscape,” said Kim.

Despite the committee’s historic reluctance, as a retail interest in cryptocurrency booms fund managers are again crying out to be the first to offer an ETF product.

On Thursday, January 21, ETF giant VanEck – the first company to ever apply for a Bitcoin fund – gold. filed to form a Digital Assets ETF, which would track the performance of the Global Digital Assets Equity Index made up of crypto service companies.

While it has been difficult to get hold of US ETFs, other exchange-traded products are thriving. Options for traders include one Swiss Bitcoin ETP, a whole series of grayscale products that use may be expanded with Chainlink in the coming months, and an Ethereum ETF in Canada that proved so popular that trading had to be discontinued on its debut.