Tuttle Capital Files Application for 10 Leveraged Crypto ETFs
Tuttle Capital Management has applied for 10 leveraged cryptocurrency exchange-traded funds (ETFs) on Monday, featuring the newly-launched memecoins from the US President Donald Trump and First Lady Melania Trump.
The 2x leveraged funds are designed to track XRP, Solana, Litecoin, Cardano, Chainlink, Polkdaot, BNP, Bonk, TRUMP and MELANIA. According to Bloomberg intelligence analyst James Seyffart, these are the first ETF filings to cover Chainlink, Cardano, Polkadot, BNP and Melania.
Leveraged ETFs use financial derivatives and debt to amplify the daily returns of the underlying security. While traditional ETFs track their underlying index at a 1:1 ratio, a leveraged fund aims for a 2:1 or higher ratio.
Seyffart explained on X that the issuers are pushing the boundaries of what the SEC will allow. He expects the new crypto task force, led by Commissioner Hester Peirce, to play a key role in determining the approval of these products.
