Tuttle Capital Management (TCM), based in Riverside, Connecticut, has filed for ten leveraged crypto ETFs in the United States. This highlights a growing interest among asset managers to leverage cryptocurrencies and memecoins as investment vehicles. The filing includes notable cryptocurrencies such as XRP, Solana, Litecoin, and Cardano, and niche tokens like TRUMP and MELANIA.
The ETFs aim to provide 2x long exposure to these digital assets, appealing to investors seeking to capitalize on market volatility and potential growth. Bloomberg ETF experts James Seyffart and Eric Balchunas stress the importance of this filing as it represents the first US crypto ETFs for assets like Chainlink and Cardano.
This marks a pivotal moment to test the boundaries of US Securities and Exchange Commission (SEC) regulations. The new crypto task force, led by pro-crypto Commissioner Hester Peirce, is expected to shape the regulatory landscape for such products.
Balchunas noted the significance of ongoing Dogecoin and TRUMP crypto ETFs and the lack of withdrawal after a week, indicating a shift in regulatory attitudes. Despite the filings, Cardano’s price has dropped nearly 5%, trading at $0.92.
