The traditional trading and investing market in the U.S. could soon see competition among providers of Bitcoin ETFs as new firms enter the race to be the first approved Trust. SolidX Partners Inc., a New-York based blockchain technology startup, today announced that it has filed a registration statement on with the U.S Securities and Exchange Commission (SEC) relating to the proposed launch of the SolidX Bitcoin Trust.

The SolidX Bitcoin Trust will seek to provide shareholders with exposure to the daily change in the U.S. dollar price of bitcoin, before expenses and liabilities of the Trust, as measured by the TradeBlock XBX Index. The Trust will not be actively managed, and will list on the New York Stock Exchange under the ticker symbol ‘XBTC’.

This move follows last month’s news that the Winklevoss Bitcoin Trust, of Tyler and Cameron Winklevoss, has changed the desired venue for its listing. Instead of Nasdaq the shares will be listed and traded on Bats BZX Exchange, Inc. (BATS) under the ticker symbol ‘COIN’, according to a preliminary prospectus they filed with the SEC.

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Back in October 2014 SolidX raised $3 million in venture funding from multiple investors, led by Liberty City Ventures and hedge fund manager James Pallotta. At the time the firm’s core business was to provide hedge funds and asset managers with access to the Bitcoin markets. They did this by marketing Bitcoin swaps that act and behave like swaps of other asset classes.