Tuttle Capital Eyes Approval for Bold Leveraged Crypto ETFs
Tuttle Capital Management has proposed a series of 10 leveraged crypto ETFs, including products tied to memecoins inspired by President Donald Trump and First Lady Melania Trump.
This marks one of the first attempts to create exchange-traded funds for assets like Chainlink, Cardano, Polkadot, BNB, and the Melania token, according to Bloomberg analyst James Seyffart.
The proposed ETFs aim to deliver double the daily returns of their underlying assets, utilizing derivatives and leverage to amplify gains—or losses. Unlike standard ETFs, which mirror the performance of their indexes, these funds target a 2:1 or greater ratio, presenting higher risks for traders seeking larger returns.
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Seyffart highlighted on social media that this move appears to be testing the SEC’s willingness to greenlight such innovative products, particularly as its crypto task force, led by Hester Peirce, assesses the filings. Bloomberg analyst Eric Balchunas noted the submission under the 40 Act could theoretically allow these ETFs to launch by April unless the SEC intervenes.
“This will test the SEC’s boundaries,” Balchunas remarked, pointing out that a similar filing for Doge and Trump tokens last week has not yet been rejected.
Tuttle Capital has a history of introducing bold ETF products, including last year’s leveraged funds tied to MicroStrategy, the largest corporate holder of Bitcoin. Most recently, Osprey and Rex Shares have also sought approval for ETFs tracking popular tokens like XRP, BONK, and Trump-themed cryptocurrencies.
“There’s definitely a market for these kinds of products,” said Matthew Tuttle in a Bloomberg interview last summer. “There are plenty of risk-hungry traders eager to dive into this space.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
