Tuttle Capital Files For 10 Leveraged Crypto ETFs Including TRUMP And Cardano
Tuttle Capital Management (TCM) has filed for ten different leveraged crypto ETFs in the United States, signaling an increasing interest from asset managers in leveraging cryptocurrencies and memecoins as viable investment vehicles.
Tuttle Capitals Crypto ETFs To Feature 2x Long Exposure
Based in Riverside, Connecticut, Tuttle Capital was founded in 2012 and specializes in providing investment management and advisory services.
The firms recent filing encompasses a range of well-known cryptocurrencies, including XRP, Solana (SOL), Litecoin (LTC), and Cardano (ADA), as well as more niche tokens like TRUMP, MELANIA, BONK, Chainlink (LINK), and Polkadot (DOT.
The proposed ETFs are designed to provide a 2x long exposure to these digital assets, catering to investors looking to capitalize on the volatility and potential upside of the cryptocurrency market.
Bloomberg ETF experts James Seyffart and Eric Balchunas have noted the significance of this filing. Seyffart highlighted that this marks the first US crypto ETFs filings for assets like Chainlink, Cardano, Polkadot, and even the memecoin MELANIA.
A Key Test For SEC Regulations?
The expert further emphasized that this is a pivotal moment for issuers as they test the boundaries of what the US Securities and Exchange Commission (SEC) will permit.
The recent establishment of the new crypto task force, led by pro-crypto Commissioner Hester Peirce, is anticipated to play a crucial role in determining the regulatory landscape for such products.
Balchunas added that the crypto ETFs fall under the Investment Company Act of 1940, suggesting that unless the SEC disapproves the applications, these ETFs could potentially be available for trading as early as April.
The expert remarked on the significance of the ongoing Dogecoin and TRUMP crypto ETF as well, noting that their lack of withdrawal after a week indicates a shifting attitude among regulators.
Despite the new crypto ETFs filings, Cardanos price dropped nearly 5%, losing the key $1 milestone. ADA is now trading at $0.92.
Featured image from DALL-E, chart from TradingView.com
Text source: NewsBTC
