Fund managers appear to be scrambling to match demand from investors as major cryptocurrencies such every bit Bitcoin (BTC) and Ether (ETH) teeter around record cost levels. According to a Bloomberg Final screenshot taken past Bloomberg Intelligence analyst James Seyffart, over 40 cryptocurrency exchange-traded funds, or ETFs, are now awaiting listing in the Us.

The source indicated that four have already been approved by the Securities Exchange Committee, the most notable of which is the Ark 21Shares Bitcoin ETF, created in a joint effort by 21 Shares and ARK Invest.

The latest fund applications came from AXS Investments on Oct. 27. They are the AXS Bitcoin Strategy ETF and the AXS Curt Bitcoin Strategy ETF. The vast bulk of funds awaiting listing seek to purchase BTC directly, or their futures and derivatives. A few funds operate on a mixed strategy, simply putting a portion of their assets in BTC while deploying the rest in U.S.-based equities or blockchain stocks. However, there are as well three funds focusing on matching the operation of ETH. They are the VanEck Ethereum Trust, the Wisdomtree Ethereum Trust, and the Kryptcoin Ethereum Trust. All three were filed earlier this yr and are currently awaiting approval.

It took eight years for the SEC to authorize such financial products in the U.S., and they take already gained meaning popularity amongst investors. Earlier this month, the Proshares Bitcoin Strategy ETF became the commencement crypto ETF to list in the state. At the time of publication, the fund's total assets under management have surpassed $2 billion.