Tuttle Capital, an ETF issuer, has unveiled ambitious plans to introduce six leveraged Bitcoin ETFs designed to provide investors with amplified returns. These filings come as the U.S. Securities and Exchange Commission (SEC) continues its evaluation of the first spot Bitcoin ETF.
Tuttle's ETF Filings:
On January 3, Tuttle Capital submitted three N1-A filings, typically employed by investment companies when establishing open-ended mutual funds. These filings outline six proposed ETFs:
T-REX 1.5x Long Spot ETF
T-REX 1.75x Long Spot ETF
T-REX 2x Long Spot ETF
T-REX 1.5x Inverse Spot Bitcoin Daily Target ETF
T-REX 1.75x Inverse Spot Bitcoin Daily Target ETF
T-REX 2x Inverse Spot Bitcoin Daily Target ETF
These leveraged Bitcoin ETFs will primarily use the iShares Bitcoin Trust as a reference asset, although they may consider other assets as well. The intention is to offer investors a magnified exposure to Bitcoin's price movements.
While specific ticker symbols and fees remain undisclosed, Tuttle Capital aims for an effective launch date of March 18, 2024.
With these filings, Tuttle Capital ventures into the vast cryptocurrency market, which holds trillions of dollars in assets. Currently, the company boasts five ETFs already listed in the market, reinforcing its commitment to expanding investment opportunities in the crypto space.
Bottom Line: Tuttle Capital's proposal for six leveraged Spot Bitcoin ETFs signifies the growing interest in cryptocurrencies among institutional investors and underscores their efforts to diversify investment options in the ever-evolving crypto landscape.
