Tuttle Capital Files for 10 Crypto ETFs

Tuttle Capital Management has recently filed an application to launch 10 leveraged crypto ETFs, including the memecoins $TRUMP and $MELANIA, created by current American President Donald Trump and First Lady Melania Trump. These leveraged ETFs aim to amplify the daily returns of the underlying assets, thus offering potentially high gain opportunities, but also increased risks for crypto investors.

Crypto: Tuttle Capital proposes 10 2x leveraged ETFs

The ETFs proposed by Tuttle Capital include 2x leveraged funds to track the performance of various cryptos such as XRP, Solana, Litecoin, Cardano, Chainlink, Polkadot, BNP, Bonk, TRUMP, and MELANIA. This initiative marks a first in the United States for financial products tracking assets like Chainlink, Cardano, Polkadot, BNP, and Melania.

James Seyffart, an analyst at Bloomberg, pointed out that these filings show how issuers are testing the limits of what the SEC will allow. He also mentioned that the new crypto task force, led by Commissioner Hester Peirce, will likely play a key role in determining which crypto ETFs will be approved.

Eric Balchunas noted that these ETFs could be available as early as April 2025, unless the SEC rejects them. Furthermore, he added that the speed at which these products will be approved or rejected by the SEC will be interesting to observe.

An initiative that is not suitable for everyone

The crypto community has reacted mixed to this news. Some investors welcomed the initiative, seeing it as an opportunity to expand trading and investment options. Others, however, expressed reservations, feeling embarrassed by the evolution of the crypto ETF landscape in the United States.

In conclusion, Tuttle Capital’s filing for these 10 leveraged ETFs represents a significant advancement in the field of financial products based on cryptocurrencies. If approved, these ETFs could offer new opportunities for crypto investors while testing the limits of current financial regulations.