Tuttle Capital Management has submitted filings to the US Securities and Exchange Commission (SEC) for a new range of exchange-traded funds (ETFs).
These ETFs are designed to track cryptocurrencies like Polkadot
The filing also includes leveraged ETFs for MELANIA and TRUMP, meme coins associated with First Lady Melania Trump and President Donald Trump, respectively. Other proposed leveraged funds cover tokens like Litecoin
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The proposed ETFs are leveraged products, which aim to deliver twice the daily returns—or losses—of their underlying assets. However, the filings warn that if the value of an asset drops by more than 50% in a single day, investors could lose their entire investment.
By including such a mix, Tuttle Capital appears to be testing the boundaries of what regulators will permit.
“These filings are pushing to see what the SEC might approve”, said Bloomberg analyst James Seyffart. He noted that decisions could depend on the SEC’s new crypto-focused task force, now led by Hester Peirce.
Eric Balchunas, an ETF expert at Bloomberg, explained that these products are filed under the 1940 Act, which governs investment funds. He said, "If the SEC doesn’t reject them, they could start trading by April".
Meanwhile, Bitwise Asset Management recently proposed a new ETF for companies holding Bitcoin
