Catenaa, Saturday, February 01, 2025 – Tuttle Capital Management has filed for 10 leveraged crypto exchange-traded funds (ETFs), including funds tracking new memecoins tied to US President Donald Trump and First Lady Melania Trump.
The filings, made on January 27, 2025, include 2x leveraged funds that will track XRP, Solana, Litecoin, Cardano, Chainlink, Polkadot, BNP, Bonk, TRUMP, and MELANIA memecoins.
These filings are the first of their kind to seek ETFs based on Chainlink, Cardano, Polkadot, BNP, and the Melania memecoin, according to Bloomberg analyst James Seyffart.
Leveraged ETFs aim to amplify the daily returns of their underlying assets through the use of financial derivatives and debt.
The filings are seen as a test of the SEC’s willingness to approve such products. SEC’s crypto task force, led by Commissioner Hester Peirce, is expected to play a crucial role in determining which products will be approved.
Bloomberg, citing an analyst noted that, if approved, these ETFs could begin trading as soon as April 2025.
Last fall, Tuttle launched the first leveraged ETFs for MicroStrategy’s Bitcoin holdings, and similar products are now being filed for memecoins like Trump’s. Tuttle’s Matthew Tuttle noted the demand for such high-leverage products, citing a growing interest in speculative digital asset trading.
