Tuttle Capital Management has submitted an amended Form N-1 to the U.S. Securities and Exchange Commission (SEC), proposing July 16 as the effective date for a suite of 2X leveraged ETFs linked to cryptocurrencies like XRP, Solana (SOL), Binance Coin (BNB), and Cardano (ADA). The filing also includes ETFs tied to memecoins such as TRUMP, MELANIA, and BONK.
Key Cryptocurrency ETFs in the Filing
The updated SEC submission lists the following leveraged ETFs:
- Tuttle Capital 2X Long XRP Daily Target ETF
- Tuttle Capital 2X Long Solana Daily Target ETF
- Tuttle Capital 2X Long BNB Daily Target ETF
- Tuttle Capital 2X Long Cardano Daily Target ETF
- Tuttle Capital 2X Long Litecoin Daily Target ETF
- Tuttle Capital 2X Long Polkadot Daily Target ETF
- Tuttle Capital 2X Long Chainlink Daily Target ETF
Notably, the inclusion of memecoins and major altcoins signals a strategy to capitalize on broadening investor interest in crypto-based financial products.
Expert Insights on the Launch Timeline
Eric Balchunas, a senior ETF analyst, highlighted that while the amended filing sets a potential launch date, it doesn’t guarantee the ETFs will go live. He stated:
"Effective dates typically align with ETF launches. With $SSK already market-listed, other issuers may follow suit. However, this remains speculative."
The SEC is expected to deliver a decision by July 16, with possible outcomes including approval, delay, or rejection.
FAQ Section
Q: What are 2X leveraged ETFs?
A: These funds aim to deliver double the daily returns of their underlying assets (e.g., XRP, SOL). They’re high-risk instruments due to amplified volatility.
Q: Why does the SEC’s approval matter?
A: SEC endorsement would legitimize these ETFs, potentially driving institutional investment into cryptocurrencies like BNB and SOL.
Q: Are memecoin ETFs a good investment?
A: While trendy, memecoins like TRUMP or BONK carry extreme volatility. Investors should assess risk tolerance before exposure.
👉 Stay updated on crypto ETF developments here
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