Tuttle Capital Administration, an exchange-traded fund (ETF) issuer, has filed for six proposed leveraged and inverse Bitcoin ETFs with america securities regulator — in hopes to supply “magnified” returns from a spot Bitcoin ETF.
Tuttle Capital filed three N1-A kinds with the Securities and Change Fee on Jan. 3, filings utilized by funding firms to create new open-ended mutual funds.
Bloomberg Intelligence ETF analyst Henry Jim shared the filings on X (previously Twitter) on the identical day, noting an efficient date of March 18, 2024.
“We’ve filings for six leveraged #Bitcoin ETFs already. Don’t actually have a spot ETF accredited but, however @TuttleCapital waits for nobody,” added fellow Bloomberg ETF analyst James Seyffart in a retweet.
We’ve filings for six leveraged #Bitcoin ETFs already. Do not actually have a spot ETF accredited but, however @TuttleCapital waits for nobody pic.twitter.com/JMgRH5roig
— James Seyffart (@JSeyff) January 3, 2024
The Bitcoin ETF purposes embody T-REX 1.5X, 1.75X and 2X Lengthy Spot Bitcoin Every day Goal ETFs and T-REX 1.5X, 1.75X, and 2X Inverse Spot Bitcoin Every day Goal ETFs.
The funds search day by day inverse leveraged or lengthy leveraged funding outcomes of as much as 150% (for the 1.5X product) and 200% (for the 2X product). Tuttle plans to initially use BlackRock’s potential iShares spot Bitcoin ETF because the underlying reference for swap agreements however says it might change the reference asset sooner or later.
“The Funds are riskier than options that don’t use leverage as a result of the Funds enlarge the efficiency of their underlying safety,” in line with the filings.
Associated: It’s occurred: Somebody’s filed for Cramer ETFs with the SEC
Tuttle didn’t but disclose a proposed ticker image or set a administration charge. Cointelegraph reached out to Tuttle Capital for additional remark.
— Matthew Tuttle (@TuttleCapital) January 3, 2024
Tuttle Capital presently has seven listed ETFs and $96 million in complete property, in line with knowledge from Inventory Evaluation.
Amongst its listed merchandise are the T-REX 2X Lengthy Tesla Every day Goal ETF (TSLT) and the T-REX 2X Lengthy NVIDIA Every day Goal ETF (NVDX).
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