It’s been more than a month since Rydex Investments launched 6 currency-based exchange-traded funds on the New York Stock Exchange and many industry experts agree on at least one thing: This is just the tip of the iceberg. “I think you will see more ETFs come to market, based upon how the initial currency ETFs are received and how they are used,” says Kevin Rich, a director in the Currencies and Commodities Complex Risk Group at Deutsche Bank, and chief executive officer of DB Commodity Services, the managing owner of the DB Commodity Index Tracking Fund. “Investors now, broadly speaking, are looking for diversification ideas,” says David Reilly, director of portfolio strategy at Rydex. “Everybody has done the stock-bond diversification approach, and with all the interest in alternatives,’ we thought the time was right to look at currencies as an asset class.” Rydex’s new CurrencyShares products will track the price movements of their associated underlying currencies: the Australian dollar, British pound sterling, Canadian dollar, Mexican peso, Swedish krona and Swiss franc. Since Rydex introduced its first currency-based ETF, the Euro Currency Trust (NYSE: FXE), in December, Deutsche Bank also has sought entry into the arena.  Many more are expected to follow.