The post Tuttle Capital proposes ETFs that aid spot Bitcoin ETF performance 1 appeared on BitcoinEthereumNews.com.

Tuttle Capital Management, a notable ETF issuer, has taken an assertive step into the evolving landscape of digital assets by filing for six leveraged and inverse Bitcoin exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). This strategic move aims to offer investors “magnified” returns, even in the absence of approval for a conventional spot Bitcoin ETF. Tuttle Capital submits filing for six Bitcoin ETFs Filed on January 3, Tuttle submitted three N1-A forms, commonly employed by investment entities to create new open-ended mutual funds. The filings, shared by Bloomberg Intelligence ETF analyst Henry Jim on X (formerly Twitter), indicate an effective date of March 18, 2024, showcasing Tuttle’s proactive stance. Fellow Bloomberg ETF analyst James Seyffart emphasized the swift action with a retweet, highlighting the filing of six leveraged Bitcoin ETFs even before the approval of a spot ETF. The suite of ETFs includes T-REX 1.5X, 1.75X, and 2X Long Spot Bitcoin Daily Target ETFs, alongside T-REX 1.5X, 1.75X, and 2X Inverse Spot Bitcoin Daily Target ETFs. These funds are designed to deliver daily inverse leveraged or long leveraged investment results, with magnification up to 150% for the 1.5X product and 200% for the 2X product. Tuttle plans to initially reference BlackRock’s potential iShares spot Bitcoin ETF for swap agreements but leaves room for changing the reference asset in the future. The firm’s calculated approach to a magnified interest In acknowledging the heightened risk associated with leveraged funds, the filings state, “The Funds are riskier than alternatives that do not use leverage because the Funds magnify the performance of their underlying security.” Notably, Tuttle has not yet disclosed a proposed ticker symbol or established a management fee for these ETFs. Tuttle Capital Management, with seven currently listed ETFs and $96 million in total assets, brings a noteworthy…

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Filed under: News - @ January 4, 2024 8:18 pm