The New York-based institutional bitcoin powerhouse is named as “bitcoin custodian” in a Thursday filing update with the U.S. Securities and Exchange Commission (SEC). When First Trust and Anthony Scaramucci’s SkyBridge originally applied in mid-March they left the custodian’s identity blank.

Now boasting BNY Mellon as its service provider and cash custodian and NYDIG as keeper of the keys, the First Trust SkyBridge Bitcoin ETF Trust attempts to gain an edge in the bustling race for regulatory approval. 

No bitcoin ETF has ever been cleared by the SEC.

However, industry insiders say a new SEC chair, a warming financial sector, a plethora of serious applications and a thunder of crypto ETF activity in Canada have boosted firms’ hopes that the U.S. may approve a bitcoin ETF – and possibly more than one.

Five of the eight active applications for pure-play bitcoin ETFs have now lined up crypto custodians. Wise Origin would use Fidelity, Valkyrie picked Coinbase and Kryptoin tapped Gemini. NYDIG, which also plans custody for its own ETF, is the only custodian with two gigs locked in. 

ETFs give investors the ability to ride the upside of assets without holding the underlying assets themselves. In the bitcoin context, they will also likely spell lower fees than existing Wall Street–friendly vehicles like Grayscale’s GBTC.

NYDIG continues to make bitcoin plays across the financial industry. It is slated to custody bitcoin for JPMorgan’s upcoming fund and integrate with consumer banks via FIS. 

NYDIG did not immediately comment.