Tuttle Files 10 Leveraged Crypto ETFs Covering XRP, Solana, and Chainlink  

• Tuttle Capital’s filings propose 10 leveraged ETFs for cryptocurrencies, including XRP, Solana, and unconventional tokens like Melania Meme. 
• The SEC’s evolving approach to crypto regulation suggests a potential shift, with recent crypto ETF applications remaining under review. 
• Leveraged ETFs offer double the daily asset performance, appealing to high-risk, high-reward investors exploring crypto markets. 

Tuttle Capital Management has applied to the creation of ten 2x leveraged Exchange Traded Funds to the SEC in the United States. The new ETFs will seek to deliver investors twice the daily returns of leading digital assets like XRP, Solana, Litecoin, Chainlink, Cardano, and Polkadot. Also interestingly, the application encompasses relatively unique tokens like the Official Trump token and Melania Meme.

First Leveraged ETFs for Chainlink and Other Altcoins

This is important as Tuttle has emerged as the first US-based asset manager to recommend leveraged ETFs for Chainlink, Cardano, Polkadot, and the Melania Meme token. Leveraged ETFs are a special kind of ETF that offers their investors exposure to two times the returns of the underlying asset and thus two times the risk. This is good for investors who would love to have higher exposure to these digital currencies while at the same time knowing very well that there is fluctuation involved.

James Seyffart and Eric Balchunas from Bloomberg pointed out that these were very specific kinds of filings. While the majority of these cryptocurrencies have Bitcoin and Ethereum ETFs, most of them have no standard SEC-approved ETFs. However, the filings fall under the 40-Act framework, which streamlines the regulatory approval process. If unopposed, these ETFs could launch as early as April.

Balchunas emphasized the SEC’s recent willingness to consider crypto ETFs, referencing recent applications for TRUMP and Dogecoin ETFs that remain under review. This apparent openness signals a shift in the regulatory landscape, especially with the SEC’s evolving approach to cryptocurrency oversight.

Trump-Backed Regulatory Shift

The SEC’s stance on cryptocurrencies has changed after former President Donald Trump vowed to support policies that are favorable to the industry. The five-member body is led by Chairman Rostin F. Behnam with Commissioner Hester M. Peirce, a crypto enthusiast, as one of the leaders shaping the new direction of the agency. The formation of a crypto task force also supports the SEC’s commitment to clearing up confusion in the regulation of cryptocurrencies and fostering innovation.

The success of Bitcoin and Ethereum ETFs has inspired asset managers to diversify their offerings. Hashdex and Franklin Templeton recently received SEC approval for their Bitcoin and Ethereum index ETFs, signaling a promising path for other cryptocurrencies. Meanwhile, Bitwise has taken early steps to launch a Dogecoin ETF, reflecting growing confidence in the expanding crypto ETF market.