Tuttle Capital Management Files for 10 Leveraged Crypto ETFs
Tuttle Capital Management has applied for 10 leveraged cryptocurrency exchange-traded funds (ETFs) in the US, including assets like Cardano, Polkadot, BenePit Protocol, and Melania Meme. These are the first filings to propose such assets, reflecting efforts to navigate SEC approval in the evolving crypto ETF market.
Key details include:
- Leveraged ETFs aim to deliver amplified daily returns, often using derivatives and debt.
- The 2x MELANIA ETF is part of a trend focusing on meme coins.
- This marks the first proposal for US ETPs involving LINK, ADA, and meme coins.
- Recent regulatory changes, including Donald Trump's potential return and Gary Gensler's exit as SEC Chair, may affect approvals.
- Hester Peirce could influence the acceptance of these products due to her pro-crypto stance.
- The filing was made under the 40 Act, potentially allowing trading by April unless rejected.
- Similar products exist in Europe; however, 2x TRUMP and MELANIA ETFs are new to the US.
- Rex Shares also recently filed for meme coin ETFs tracking assets like TRUMP and DOGE.
- Lack of withdrawal from these applications indicates growing institutional optimism.
The SEC's response to these proposals will set a precedent for future crypto ETFs and could significantly impact the industry. Approval may lead to innovative financial products, though skepticism remains about the extent of boundaries issuers can push.