In a movement that may requite seasoned investors flashbacks to 2018, Valkyrie Digital Assets is the latest asset management business firm to file a registration with the SEC to grade a Bitcoin ETF — a bid that joins a crowded field of prospective fund managers looking to capitalize on renewed retail interest in cryptocurrencies.

Filed on Fri, the Texas-based family investment fund proposed listing the Valkyrie Bitcoin Trust on the New York Stock Exchange. The awarding did not include a possible trading ticker.

If history is whatever indication, still, the filing's chances of leading to a tradable fund are slim. During the last Bitcoin bull run, multiple firms attempted to throw their hat into the ring every bit at least ix entities filed proposals for a Bitcoin ETF with the SEC, including ETF giants VanEck and Direxion, likewise as Gemini, the crypto services house formed by Cameron and Tyler Winklevoss.

In a previous interview with Cointelegraph, Kryptoin CEO Donnie Kim, whose business firm filed for an ETF in October of 2019, says that the SEC has long been hesitant to movement forward with proposals.

"At this moment in time the committee is listening and learning near this new asset class and they are in a holding pattern, partly to understand the consequences of the existing products on the market and partly to look for further guidance under the electric current political mural," said Kim.

Despite the commission's historical reticence, every bit retail interest in cryptocurrency booms fund managers are once again clamoring to be the first to offer an ETF product.

On Thursday, Jan. 21 gold ETF giant VanEck — which was the outset company to ever file for a Bitcoin fund — filed to form a Digital Avails ETF, which would track the performance of the Global Digital Avails Equity Index made up of crypto service companies.

While American ETFs have been hard to come by, other exchange-traded products are flourishing. Options for traders include a Swiss Bitcoin ETP, a bevvy of Grayscale products that may be expanding to include Chainlink in the coming months, and an Ethereum ETF in Canada that proved then pop trading had to exist halted in its debut.