Two former partners at ETF Securities, the firm that launched the first gold ETF in 2003, have returned to the industry with a new venture, believing regulatory and investor pressure may curb European banks' operations in the $1.5 trillion exchange-traded funds market.

Nik Bienkowski and Hector McNeil, who left ETF Securities in September and October 2010, have begun a new company, called Boost ETP. The P stands for product, referring to an alternate name for exchange-traded funds.