Tuttle Capital Files for 10 Leveraged Crypto ETFs, Including XRP

Tuttle Capital has applied to the SEC to approve ten leveraged crypto-related ETFs, signaling a growing interest in derivative-based exchange-traded funds. The proposed products include 2x leveraged exposure to popular cryptocurrencies like XRP, Solana, Litecoin, and Cardano and lesser-known assets like Chainlink and Polkadot.

If approved, these ETFs would allow investors to amplify their returns on daily market movements, albeit with heightened risks.

Tuttle Capital Targets Diverse Crypto Assets

The filing represents a significant step in expanding derivative-based ETFs for crypto assets, offering exposure to major cryptocurrencies and niche tokens. Alongside XRP, Cardano, and Solana, the proposed ETFs include assets such as Trump, Melania, and Bonk, catering to a broader investor base.

Notably, some assets in the application, including Chainlink, Polkadot, and Melania, lack existing exchange-traded products in the U.S. market, making this a groundbreaking move.

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

The proposed ETFs are structured to provide 2x daily leveraged exposure, enabling investors to benefit from amplified returns. This approach, however, carries substantial risks due to the volatility of the underlying assets.

With this filing, Tuttle Capital seeks to address the growing demand for diversified investment options within the crypto industry.

Also note this is a 40 act filing so in theory unless the SEC disapproves them they could be out and trading in April. Will be interesting to see where the SEC draws line (if at all) and why. I will say it’s been a week since Doge/Trump filing and it hasn’t been withdrawn. That’s…

— Eric Balchunas (@EricBalchunas) January 27, 2025

The SEC’s decision on these ETFs will set a precedent for future applications, especially in a post-Gary Gensler era. Analysts have noted that the regulatory landscape may now favor crypto-related products under the leadership of Hester Peirce and the newly formed crypto task force.

Tuttle Capital’s filing comes when issuers test the SEC’s willingness to approve unconventional products, including derivative-based ETFs for meme coins.

Market analysts highlight the uniqueness of this filing, given that some of the proposed ETFs focus on assets without existing exchange-traded products. The filing process is part of a broader trend of increased interest in crypto-based ETFs, with companies like Bitwise recently registering for a Dogecoin spot ETF.

The SEC’s approval or disapproval of these products will be closely watched, as it could influence the trajectory of crypto-related investments.

Filing Sparks Speculation on ETF Market Trends

Including meme coins like Trump and Melania in Tuttle Capital’s application has drawn attention from industry observers. Analysts argue that these filings aim to explore the boundaries of what the SEC might allow in the evolving crypto ETF space.

If approved, the products could hit the market by April, potentially reshaping investor strategies for crypto assets.

As the SEC evaluates these applications, the outcome will likely influence how issuers approach future ETF filings. The growing interest in leveraged ETFs reflects increasing demand from investors seeking higher returns despite associated risks.

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