Tuttle Capital Files for Six Leveraged and Inverse Bitcoin ETFs with SEC
Tuttle Capital Management has filed for six new Bitcoin exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC).
On Jan.3, Tuttle Capital filed three separate N1-A filings with the SEC. The company’s proposed Bitcoin ETFs are structured to offer leveraged and inverse investment options based on the performance of reference spot Bitcoin ETFs, which is still pending SEC approval.
According to Bloomberg Intelligence ETF Analyst Henry Jim, all Tuttle’s Bitcoin ETFs will “use the yet-to-be launched iShares Spot Bitcoin ETF as initial reference ETF,” but “reserves right to use other spot Bitcoin ETFs.”
The six proposed ETFs by Tuttle Capital include T-REX 1.5X, 1.75X, and 2X Long Spot Bitcoin Daily Target ETFs, as well as T-REX 1.5X, 1.75X, and 2X Inverse Spot Bitcoin Daily Target ETFs. These funds aim to provide daily leveraged or inverse results, magnifying the performance of their reference spot Bitcoin ETF by 150% to 200%.
T-Rex files 6 leveraged and inverse Bitcoin ETFs
T-Rex 1.5X Inverse Spot Bitcoin Daily Target ETF
T-Rex 1.5X Long Spot Bitcoin Daily Target ETF
T-Rex 1.75X Inverse Spot Bitcoin Daily Target ETF
T-Rex 1.75X Long Spot Bitcoin Daily Target ETF
T-Rex 2X Inverse Spot Bitcoin Daily… pic.twitter.com/eLFTiS1Gq9
— ETF Hearsay by Henry Jim (@ETFhearsay) January 3, 2024
The effective date for these ETFs is set for March 18. As of now, Tuttle Capital has not disclosed specific ticker symbols or management fees for these ETFs.
“We have filings for 6 leveraged #Bitcoin ETFs already. Don’t even have a spot ETF approved yet,” said Bloomberg analyst James Seyffart. “But @TuttleCapital waits for no one.”
“It was only a matter of time…” added Bloomberg analyst Eric Balchunas.
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