Valkyrie joins race for spot bitcoin ETF with Wednesday SEC filing

Valkyrie Funds, which already offers a Bitcoin Strategy ETF and a Bitcoin Miners ETF, is joining the race for the first spot bitcoin ETF with a new filing submitted to the U.S. Securities and Exchange Commission on Wednesday. 

Called the Valkyrie Bitcoin Fund, the ETF will hold bitcoin to reflect the performance of the CME CF Bitcoin Reference Rate, New York Variant. The trust intends to list shares on the Nasdaq exchange under the ticker BRRR.

The SEC has yet to approve a spot bitcoin EFT. WisdomTree, Invesco and BlackRock have all filed for spot bitcoin funds over the past week. 

The price of the world's largest crypto by market capitalization has surged with the interest, rising 16% over the past week. It rose 6.3% on Wednesday to trade at $30,114, according to TradingView.