Swiss asset manager Pando Asset filed an application to launch a spot bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) yesterday, Nov. 29.

With this filing, there are already 13 spot bitcoin ETF applications waiting to be approved by the SEC. These include asset management giants such as BlackRock and Fidelity.

Should these applications be approved, the Pando Asset ETF will be listed on the Cboe BZX exchange in Chicago, Illinois. According to its SEC filing, it will be held in custody by Coinbase.

Pando Asset is a company that has been dedicated since 2022 to providing investment instruments listed in digital assets. Currently, it owns three products of bitcoin (BTC), ether (ETH), and cryptocurrencies, which are listed on the Swiss exchange SIX. These can be found under the ticker codes PBTC, PETH, and PNDS respectively.

Exchange rate fund and crypto asset market analyst James Seyffart said he doubts the Pando Asset bitcoin ETF filed with the SEC will be ready to trade on day one with the others if they are approved. He believes that it could take longer to launch, due to the short time left before possible approval.