Tuttle Capital has filed for 10 crypto-based leveraged exchange-traded funds (ETFs), together with some for standard memecoins, with analysts saying issuers are testing the bounds of Trump-appointed crypto-friendly regulators.
Tuttle’s proposed ETFs embrace funds which might be two occasions leveraged lengthy on memecoins from Donald Trump and his wife Melania, Bloomberg ETF analyst James Seyffart said in a Jan. 27 X put up.
Along with the Official Trump (TRUMP) and Melania Meme (MELANIA) tokens, Seyffart stated that Tuttle’s different proposed funds embrace “a bunch of memecoin merchandise and belongings” that don’t have ETFs but.
These different ETFs could be lengthy on XRP (XRP), Solana (SOL), Litecoin (LTC), Chainlink (LINK), Cardano (ADA), Polkadot (DOT), BNP and the memecoin Bonk (BONK).
“To be very clear right here. It is a case of issuers testing the bounds of what this SEC goes to permit,” he stated.
Supply: James Seyffart
Trump made guarantees to finish perceived regulatory hostility towards crypto in his presidential marketing campaign, and after he entered the White Home, the Securities and Trade Fee created a crypto task force devoted to creating a framework for digital assets headed by crypto-friendly Commissioner Hester Peirce.
“I’m anticipating the brand new crypto process power led by Hester Peirce to seemingly be the lynchpin in figuring out what’s gonna be allowed vs what isn’t,” Seyffart added.
Bloomberg’s senior ETF analyst Eric Balchunas said on X that Tuttle’s filings are “uncommon,” as they’re for greater leveraged ETFs when a number of of them don’t have a normal ETF.
ETFs typically track the asset of their underlying index one-to-one; leveraged funds, nonetheless, monitor at a 2:1 ratio or greater.
“It is a 40-act submitting, so in principle, until the SEC disapproves them, they could possibly be out and buying and selling in April,” Balchunas stated.
Associated: TRUMP, DOGE, BONK ETF approvals likely, but Cathie Wood won’t invest: Finance Redefined
“Will likely be fascinating to see the place the SEC attracts [a] line (if in any respect) and why,” he added, noting that current filings for Dogecoin (DOGE) and TRUMP haven’t been withdrawn.
Supply: Eric Balchunas
Asset managers Osprey Funds and REX Shares flagged plans in a Jan. 21 regulatory submitting to launch ETFs for several memecoins, together with DOGE, TRUMP and BONK.
It comes as extra companies transfer into the ETF market. The SEC gave the green light to Hashdex and Franklin Templeton’s respective Bitcoin (BTC) and Ether (ETH) index ETFs on Dec. 20.
Funding administration agency Osprey Funds has additionally announced a plan to convert its Osprey Bitcoin Trust (OBTC) right into a spot Bitcoin ETF after its deal to be acquired by Bitwise was terminated.
According to analytics and world ETF database service VettaFi, 32 totally different Bitcoin ETFs are at present traded within the US. Nonetheless, solely 11 are spot Bitcoin ETFs.
Journal: Bitcoin vs. the quantum computer threat: Timeline and solutions (2025–2035)
Source link