Several large U.S.-based providers of exchange traded funds are looking to the fast-growing European ETF market as a new growth frontier.

ProShares, Guggenheim and Charles Schwab (NYSE: SCHW) are mulling plans to expand in Europe, reports Madison Marriage for the Financial Times. The issuers are the sixth-, eighth- and tenth-largest U.S. ETF issuers, respectively.

News of more U.S.-based ETF providers potentially expanding in Europe comes as some of their rivals have recently done just that.

In late January, WisdomTree (NasdaqGM: WETF), the fifth-largest U.S. ETF issuer, said itwill expand its presence in Europe with acquisition of a majority stake in Boost, a boutique provider of inverse and leveraged ETFs. [WisdomTree Expands in Europe]

Although the European ETF market is small compared to the U.S. with just $395 billion in assets at the end of last year, assets surged 20% in 2013, according to the FT.