Following the success of the CBOE’s debut of the futures market for Bitcoin on Sunday, other companies are starting to file applications to get in on the action.

The SEC public filing system is showing the commission has received new applications from both REX Bitcoin Strategy ETF and REX Short Bitcoin Strategy ETF, along with VanEck Vectors Bitcoin Strategy ETF.

Neither of the firms plans to hold Bitcoins directly.  Instead, the idea is for the actively-managed funds to trade futures contracts and other products to allow investors the opportunity to profit from the price movements of this popular digital currency.

REX, based in Connecticut, submitted its application on December 8th, a couple of days before the first bitcoin futures contracts launched on CBOE.  However, the New York-based VanEck company filed their application on December 11th, shortly after REX.

Many fund providers have filed to create Bitcoin ETFs in the past, but until now, the SEC has turned down or chosen not to review the applications. The SEC has denied applications that dealt with trading Bitcoin directly, pointing out the unregulated nature of Bitcoin exchanges. The SEC has also stated in the past that the commission was not able to review an application for a fund that would invest in non-existent products, for example, Bitcoin derivatives.

This week marks a change in circumstances though. With CBOE officially having listed Bitcoin futures, and LedgerX launching other derivatives products, several analysts think that the SEC will now begin approving ETFs that trade these products. Therefore, the futures launch is projected to cause a flurry of new Bitcoin ETF filings.

If a Bitcoin ETF is established, this will be an exciting moment for the crytpocurrency world, as it will bring it more into the mainstream sector.  It would allow for Bitcoin-linked investment products to be more readily accessible to investors who want to invest in Bitcoin via their brokerage and retirement accounts. More than likely, it would also help to further skyrocket the rising value of Bitcoin in the year 2018.

Only time will tell, and it mostly rides on whether the SEC will begin approving these types of contracts or continue to shoot them down. With the continued adoption of Bitcoin and other cryptocurrencies, and information already showing up in mainstream news, it would be hard for SEC to keep on ignoring that cryptocurrency, and what it has to offer, may just be the way of the future.