Tuttle Capital Management has recently filed for six new Bitcoin exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC), signaling the growing interest and demand for cryptocurrency investments. The company submitted three separate N1-A filings on January 3, outlining its proposed Bitcoin ETFs that offer leveraged and inverse investment options based on the performance of reference spot Bitcoin ETFs.
Proposed Bitcoin ETFs by Tuttle Capital
- T-REX 1.5X Long Spot Bitcoin Daily Target ETF
- T-REX 1.75X Long Spot Bitcoin Daily Target ETF
- T-REX 2X Long Spot Bitcoin Daily Target ETF
- T-REX 1.5X Inverse Spot Bitcoin Daily Target ETF
- T-REX 1.75X Inverse Spot Bitcoin Daily Target ETF
- T-REX 2X Inverse Spot Bitcoin Daily Target ETF
These ETFs aim to provide daily leveraged or inverse results, magnifying the performance of their reference spot Bitcoin ETF by 150% to 200%. The effective date for these ETFs is set for March 18, indicating a potential expansion of the cryptocurrency market in the near future.
Industry Analysts’ Perspectives
Bloomberg Intelligence ETF Analyst Henry Jim stated that Tuttle’s Bitcoin ETFs will initially use the yet-to-be-launched iShares Spot Bitcoin ETF as a reference, but also reserves the right to use other spot Bitcoin ETFs. This demonstrates Tuttle’s flexibility and adaptability to changing market conditions.
“We have filings for 6 leveraged #Bitcoin ETFs already. Don’t even have a spot ETF approved yet. But @TuttleCapital waits for no one.” – Bloomberg analyst James Seyffart
“It was only a matter of time…” – Bloomberg analyst Eric Balchunas
Meanwhile, Goldman Sachs is reportedly on track to become an authorized participant in Bitcoin ETFs offered by BlackRock and Grayscale, signaling further mainstream acceptance and adoption of cryptocurrencies within the traditional financial sector.
