- Tuttle Capital files for 10 leveraged crypto ETFs, including Solana, XRP, Cardano, and more.
- This marks the first-ever leveraged ETFs for assets like Chainlink, Cardano, and Polkadot.
Tuttle Capital has made a bold move by filing for 10 leveraged cryptocurrency exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). Notably, the list features Solana (SOL), XRP, Litecoin (LTC), and Cardano (ADA), alongside lesser-known tokens like TRUMP, MELANIA, BONK, Chainlink (LINK), and Polkadot (DOT).
These ETFs will offer 2x long exposure to their respective assets. This means they aim to deliver twice the daily performance—both gains and losses—of the underlying cryptocurrencies. The products utilize financial derivatives, such as swaps and call options, to achieve this amplification.
SEC’s Stance and Crypto Market Implications
While these ETFs may appeal to investors seeking higher returns, the associated risks are high. The potential for significant losses is equally amplified, with investors facing the possibility of losing their entire principal in a single trading day if the underlying asset drops by more than 50%.
The filings represent the first-ever leveraged ETFs for Chainlink, Cardano, and Polkadot. Additionally, Tuttle Capital’s proposal includes products for meme coins like TRUMP and MELANIA, signalling the firm’s willingness to experiment with more volatile and speculative assets.
This filing comes amid regulatory uncertainty, as the SEC’s stance on crypto ETFs remains unclear. However, industry experts suggest that certain assets, like Solana, XRP, and Litecoin, have better chances of approval due to their market capitalization and decentralization.
In contrast, meme coins like TRUMP and MELANIA face greater scrutiny due to their extreme price volatility. Despite these challenges, some experts remain optimistic about the future of crypto ETFs, especially with the recent changes at the SEC, including the appointment of pro-crypto Acting Chair Mark Uyeda.
According to Bloomberg’s James Seyffart, the firm is experimenting with what the SEC will allow. The filing is also significant because it could pave the way for further innovation in the crypto ETF space, especially if the SEC approves these new products.
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