Add Pando Asset to the list of firms that are attempting to salvage U.S. regulatory acclaim for a location bitcoin replace traded fund (ETF).

The Switzerland-basically based fully crypto asset supervisor filed an utility with the Securities and Change Price (SEC) on Wednesday to provide an ETF basically based fully basically on the continued tag of bitcoin, the Pando Asset House Bitcoin Belief.

“The assets of the Belief consist basically of bitcoin held by a custodian on behalf of the Belief,” Pando talked about in its submitting. “The Belief seeks to delight in normally the efficiency of the fee of bitcoin.”

Pando Asset turns into the 13th company with location bitcoin ETFs before the SEC, joining such financial products and services powerhouses as BlackRock and Fidelity Investments, which submitted their delight in applications in June. The SEC had previously rejected more than one applications.

Nonetheless the BlackRock and Fidelity filings, and others, have buoyed investors who have despatched bitcoin, the largest cryptocurrency by market capitalization, and other digital asset prices skyward. BTC has spiked more than 50% since BlackRock filed its utility.

Study More: Broad Asset Management Firm BlackRock Files for House Ethereum ETF

Bitcoin changed into not too prolonged previously shopping and selling at about $37,857, roughly flat over the previous hour and down about 1% at some point of the closing 24 hours.

Pando Asset is the brainchild of blockchain technology executives from Huobi Community and Deutsche Boerse AG, among others. Its contemporary products consist of the Pando Asset Crypto 6 ETP, which lists on the SIX Swiss Change and tracks a basket of cryptocurrencies.