Tuttle Capital has filed an amendment to shift the effective date for a series of crypto and meme-related leveraged exchange-traded funds (ETFs) to July 16.
This move, first reported by Bloomberg’s ETF analyst Eric Balchunas on July 1, could signal the imminent launch of 10 new leveraged funds.
These ETFs are poised to offer double (2x) leveraged exposure to various assets, including well-known cryptocurrencies like Solana, Chainlink, Cardano, Polkadot, and Litecoin, as well as meme assets such as Trump, Melania, and Bonk.
If approved, the funds would also include assets like XRP and mark a notable expansion in the range of crypto options available to ETF investors.
However, Balchunas clarified that the amended effective date doesn’t always guarantee a launch, though it is often a strong indication that the product is imminent.
He said:
“[This] doesn’t mean they will launch but typically effective dates are when ETFs launch.”
Tuttle originally filed for these ETFs in January, catching the attention of analysts due to their aggressive design.
Unlike standard ETFs, which mirror the underlying asset’s price movement one-to-one, leveraged ETFs aim to amplify these movements, providing investors with double the exposure—both gains and losses—compared to the asset’s daily performance.
Notably, many of these assets do not yet have basic spot ETF counterparts, making Tuttle’s filings unusual.
Crypto ETF wave
The potential debut of Tuttle’s ETFs follows a broader innovation trend in crypto-related financial products.
Rex Shares and Osprey Funds are leading the drive, with a staking Solana ETF (SSK) launch scheduled for July 2. This product would give investors direct exposure to SOL and incorporate on-chain staking rewards.
Unlike the usual spot ETF product, the fund is registered under the Investment Company Act and taxed as a C-corporation. This regulatory structure means that while the US SEC didn’t officially “approve” it, there were no objections to its launch.
According to Balchunas, SSK’s debut could motivate other firms to push for more innovative product designs that face minimal regulatory resistance.
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