​Tuttle Capital Files Applications for 6 Leveraged ETFs for Bitcoin ETF

Tuttle Capital Files Applications for 6 Leveraged ETFs for Bitcoin ETF Tuttle Capital Management, an exchange-traded fund (ETF) manager, has applied for approval of six leveraged Bitcoin ETFs at the US Securities and Exchange Commission, hoping to generate big returns. from Bitcoin Spot ETF. This is an important step in expanding Tuttle Capital's product portfolio and also an important step in bringing Bitcoin into the mainstream stock market. According to information from Bloomberg Intelligence ETF, Tuttle Capital filed three N1-A forms with the Securities and Exchange Commission on January 3.
These are key filings used by investment firms to create new open-ended mutual funds. Henry Jim, an analyst with Bloomberg Intelligence ETF, shared this information on social media, noting that the effective date of the filing is March 18, 2024. “We already have filings for 6 leveraged #Bitcoin ETFs. There aren't even any approved spot ETFs yet, but @TuttleCapital isn't waiting for anyone,” James Seyffart, Bloomberg ETF analyst, shared on social media. Bitcoin ETF applications include ETFs targeting bullish spot Bitcoin (Long) with 1.5X, 1.75X and 2X leverage multipliers, as well as ETFs targeting bearish spot Bitcoin (Short) with leverage multipliers of 1.5X, 1.75X and 2X. These are considered groundbreaking products in bringing Bitcoin cryptocurrency to the traditional stock market. These ETFs provide the opportunity to invest in Bitcoin with financial leverage, allowing investors to receive 1.5 times or 2 times profits compared to the increase/decrease in Bitcoin price. This means that with a 1.5x leveraged product, if the price of Bitcoin increases/decreases 10%, the ETF will increase/decrease 15%. With a 2x leveraged product, the ETF will increase/decrease 20% if Bitcoin price increases/decreases 10%. Initially, Tuttle plans to use iShares BlackRock's potential Bitcoin spot ETF as the reference underlying asset for these leveraged ETFs. But they can change the underlying asset in the future if needed. “The Fund has higher risk than non-leveraged alternatives because the Fund enhances the performance of their underlying securities,” according to the filing. This shows careful consideration and calculation on Tuttle Capital's part in developing new ETF products. According to data from Stock Analysis, Tuttle Capital currently has seven listed ETFs and total assets worth $96 million. Among its listed products are the T-REX 2X Long Tesla Daily Target ETF (TSLT) and the T-REX 2X Long NVIDIA Daily Target ETF (NVDX). This shows the diversity and richness of Tuttle Capital's product portfolio. Amid growing stock and cryptocurrency markets, Tuttle Capital's filing for approval of six leveraged and inverse Bitcoin ETFs is an important step, opening up new opportunities for investors. Investing in the cryptocurrency market through mainstream ETF products. This also contributes to promoting Bitcoin's acceptance and integration into the global financial system.