Tuttle Capital Files for 10 Crypto-Based Leveraged ETFs, Including Trump Memecoins

Tuttle Capital is pushing the boundaries of cryptocurrency investments by filing for 10 leveraged exchange-traded funds (ETFs), including those linked to memecoins inspired by Donald Trump and Melania Trump. These filings, highlighted by Bloomberg ETF analyst James Seyffart, indicate an ambitious move to tap into the growing demand for unique digital assets.

Beyond the Trump-themed tokens, Tuttle’s proposed funds include ETFs tied to several major cryptocurrencies such as XRP, Solana (SOL), Litecoin (LTC), Chainlink (LINK), Cardano (ADA), Polkadot (DOT), and the memecoin Bonk (BONK). These ETFs are designed to offer leveraged exposure, tracking the underlying asset at a two-to-one ratio or more rather than the traditional one-to-one model.

Testing the SEC’s Regulatory Boundaries

The filings come at a time when regulatory scrutiny of crypto products remains intense. Analysts suggest that Tuttle and other issuers are testing the willingness of Trump-appointed crypto-friendly regulators, particularly after the creation of a new digital asset task force led by Commissioner Hester Peirce.

Seyffart believes the task force could play a crucial role in determining which crypto-based ETFs gain approval. Fellow Bloomberg analyst Eric Balchunas noted the unusual nature of Tuttle’s filings, as they involve leveraged products for assets that don’t yet have standard ETFs available.

“This could be a turning point,” Balchunas observed, stating that the SEC may need to clarify its stance on these types of funds. He speculated that unless explicitly rejected, these funds could be trading as early as April.

ETFs Gaining Momentum

Tuttle’s move follows recent activity in the ETF space, with firms like Osprey Funds and REX Shares also planning to launch crypto ETFs, including products linked to Dogecoin, Bonk, and the Trump tokens. In December, the SEC approved Bitcoin and Ether index ETFs from Hashdex and Franklin Templeton, signaling an expanding acceptance of digital asset funds.

As firms continue to flood the ETF market, competition grows fiercer. Data from VettaFi reveals that 32 Bitcoin ETFs currently trade in the U.S., with only 11 classified as spot Bitcoin ETFs. With companies like Tuttle testing regulatory waters, the next few months could bring significant developments for cryptocurrency-based investment products.