Tuttle Capital Files for Ten Leveraged Crypto ETFs, Including Memecoins

Tuttle Capital Management has filed applications with the US Securities and Exchange Commission (SEC) for ten different cryptocurrency-based leveraged exchange-traded funds (ETFs).  

According to a post by Bloomberg analyst James Seyffart, the firm’s filing includes exposure to major cryptocurrencies like XRP, Solana, Litecoin, Cardano, and popular memecoins.

NEW: @TuttleCapital just filed for 10 different leveraged crypto asset ETFs. Including a bunch of memecoin products and assets that don’t have ETPs yet. pic.twitter.com/i8X0rSdbK7

— James Seyffart (@JSeyff) January 27, 2025

ETF Filing for Ten Crypto Assets 

Seyffart pointed out that Tuttle Capital’s filing is the first US ETP for anything tracking Chainlink, Polkadot, Cardano, BNP, and members like Trump, Melania, and Bonk. Notably, some of the assets in the filing have no exchange-traded products (ETPs) yet. 

Unlike traditional ETFs, which track their underlying assets at a one-to-one ratio, leveraged ETFs aim to deliver twice the returns of their underlying assets, adding both opportunity and risk for investors. The daily performance returns of these assets will be tracked and generated through swaps, call options, and direct investments. 

Unusual Applications Testing SEC’s Limits

The analyst stated that Tuttle Capital’s filings are part of a broader strategy to test the boundaries of the Securities and Exchange Commission (SEC) under Trump-era crypto-friendly regulators.

Since US President Donald Trump resumed office, he has delivered on some crypto-related promises, including the creation of the crypto task force. With former SEC chairman Gary Gensler, who was known for his hostile approach towards cryptocurrencies, gone, market analysts expect ETF approval will be easier under the new administration.

However, Seyffart highlighted that the new pro-crypto environment has birthed unusual applications, as seen in Tuttle Capital’s recent filing. He highlighted that this application is a case of issuers pushing the boundaries of what the SEC might allow. 

Additionally, he explained that the new crypto task force, led by Hester Peirce, will likely play a major role in deciding what assets will be approved and what will not.

“This is a case of issuers testing the limits of what this SEC is going to allow. I’m expecting the new crypto task force (led by @HesterPeirce) to likely be the lynchpin in determining what’s gonna be allowed vs what isn’t”, he said. 

Tuttle’s move comes amid a broader push by asset managers to launch ETFs for emerging cryptocurrencies. Earlier this month, Bitwise registered its Dogecoin spot ETF with the Delaware Department of State.