Tuttle’s new ETFs could offer 2x gains or losses on SOL, TRUMP, XRP, and more starting July 16

Tuttle Capital has filed an modification to shift the efficient date for a collection of crypto and meme-related leveraged exchange-traded funds (ETFs) to July 16.

This transfer, first reported by Bloomberg’s ETF analyst Eric Balchunas on July 1, might sign the approaching launch of 10 new leveraged funds.

These ETFs are poised to supply double (2x) leveraged publicity to varied belongings, together with well-known cryptocurrencies like Solana, Chainlink, Cardano, Polkadot, and Litecoin, in addition to meme belongings resembling Trump, Melania, and Bonk.

If permitted, the funds would additionally embrace belongings like XRP and mark a notable enlargement within the vary of crypto choices obtainable to ETF traders.

Nevertheless, Balchunas clarified that the amended efficient date doesn’t all the time assure a launch, although it’s typically a powerful indication that the product is imminent.

He stated:

“[This] doesn’t imply they’ll launch however sometimes efficient dates are when ETFs launch.”

Tuttle initially filed for these ETFs in January, catching the eye of analysts resulting from their aggressive design.

In contrast to customary ETFs, which mirror the underlying asset’s worth motion one-to-one, leveraged ETFs purpose to amplify these actions, offering traders with double the publicity—each positive aspects and losses—in comparison with the asset’s every day efficiency.

Notably, many of those belongings don’t but have primary spot ETF counterparts, making Tuttle’s filings uncommon.

Crypto ETF wave

The potential debut of Tuttle’s ETFs follows a broader innovation pattern in crypto-related monetary merchandise.

Rex Shares and Osprey Funds are main the drive, with a staking Solana ETF (SSK) launch scheduled for July 2. This product would give traders direct publicity to SOL and incorporate on-chain staking rewards.

In contrast to the same old spot ETF product, the fund is registered underneath the Funding Firm Act and taxed as a C-corporation. This regulatory construction signifies that whereas the US SEC didn’t formally “approve” it, there have been no objections to its launch.

In line with Balchunas, SSK’s debut might encourage different companies to push for extra revolutionary product designs that face minimal regulatory resistance.

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