BlackRock location the ball rolling with its utility for a set Bitcoin trade traded fund (ETF) remaining week, triggering four new filings from high funding managers to checklist an analogous products on U.S. exchanges.

Financial providers agency Valkyrie Investments is the most up-to-date to follow for a set Bitcoin ETF, filing an up to this point proposal for the product with the U.S. Securities and Substitute Price (SEC) on Wednesday.

The agency altered the intended trade from NYSE Arca to NASDAQ and changed the fund’s ticker symbol to “BRRR.”

Gotta just like the ticker. Additionally, must assume there might be an cheap likelihood that this fund *might well perhaps* be second to market after BlackRock *IF* BlackRock is authorized (that's a gargantuan “if”!) Because it will be listed on the same trade filing for the 19b-4 rule trade. pic.twitter.com/NIQF7e4Ysp

— James Seyffart (@JSeyff) June 21, 2023

Industry watchers commented that the ticker’s title became seemingly a play on the in style meme “Money Printer Inch Brrr,” which takes plan on the Federal Reserve’s approach of growing the cash present to curb hobby rates and decrease borrowing costs.

Esteem BlackRock, Valkyrie’s Bitcoin ETF would spend the CME CF Bitcoin Reference Price (BRRNY) to fee the worth of Bitcoin.

Valkyrie already has a dazzling amount of pores and skin within the sport when it comes to digital asset-linked ETFs. The agency launched the Valkyrie Bitcoin Plot ETF (BTF), the second ever Bitcoin Futures ETF in October 2021, and runs the Valkyrie Bitcoin Miners ETF which has the ticker “WGMI.”

Earlier this week, Invesco and WisdomTree additionally reapplied for set Bitcoin ETFs with the SEC. The renewed optimism in a doable Bitcoin ETF has sparked a rally within the worth of Bitcoin itself, which surged 21% within the relaxation week. The main digital asset became trading at $30,100 on the time of writing.