Tuttle Capital Management has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch six leveraged and inverse Bitcoin ETFs (exchange-traded funds).
The ETF issuer submitted three different N1-A filings to the SEC on January 3.
T-Rex Files for Six Leveraged and Inverse Bitcoin ETFs
T-Rex 1.5X Inverse Spot Bitcoin Daily Target ETF
T-Rex 1.5X Long Spot Bitcoin Daily Target ETF
T-Rex 1.75X Inverse Spot Bitcoin Daily Target ETF
T-Rex 1.75X Long Spot Bitcoin Daily Target ETF
T-Rex 2X Reverse Spot Bitcoin Daily…
pic.twitter.com/eLFTiS1Gq9
– ETF Hearsay by Henry Jim (@ETFhearsay)
January 3, 2024
The six ETFs are called the T-Rex 1.5X, 1.75X and 2X Inverse Spot Bitcoin Day Target ETFs and the T-Rex 1.5X, 1.75X and 2X Long Spot Bitcoin Day Target ETFs.
Tuttle’s Leveraged Bitcoin ETF is for knowledgeable investors only
These ETFs are designed to amplify the daily performance of the reference spot Bitcoin ETF by 150% (for the 1.5X product), 175% (for the 1.75X product), and so on.
Tuttle’s filing said it would use the BlackRock iShares Spot Bitcoin ETF as the underlying indicator, but could also switch to other products.
“The Fund is designed for use by knowledgeable investors only,” the filing states.
Eric Balchunas, Bloomberg Intelligence ETF analyst, said filings for such investment vehicles “are only a matter of time.”
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