ETFs and funding methods professional Tuttle Capital Administration has utilized to record 10 leverage crypto ETF merchandise monitoring Solana and XRP with america Securities and Alternate Fee (SEC). Whereas this is likely one of the pioneering crypto merchandise by the agency, it additionally marks the primary for a number of the underlisted belongings past SOL and XRP.
Tuttle Capital ETFs: Testing Regulatory Boundaries
In accordance with the agency’s S-1 registration assertion, the Tuttle Capital 2X Lengthy XRP Day by day Goal ETF product marks the primary on the record. The record additionally contains the Tuttle Capital 2X Lengthy Solana Day by day Goal ETF and Tuttle Capital 2X Lengthy Litecoin Day by day Goal ETF.
Whereas these altcoins have earlier ETF filings poised to trace their performances, many new cryptocurrencies and memecoins additionally made the record. By way of Tuttle Capital, belongings like Cardano, Chainlink, and Polkadot will get their first leverage ETF merchandise.
Tuttle Capital additionally needs the US SEC to approve ETF merchandise that includes memecoins like TRUMP, MELANIA, and BONK.
In accordance with ETF professional James Seyffart, crypto exchange-traded fund issuers are seemingly pushing regulatory boundaries with the US SEC. He famous that the crypto task force, led by Hester Peirce, will seemingly play a job in deciding which submitting baggage are accepted.
To be very clear right here. This can be a case of issuers testing the boundaries of what this SEC goes to permit. I’m anticipating the brand new crypto job pressure (led by @HesterPeirce) to seemingly be the lynchpin in figuring out what’s gonna be allowed vs what isn’t
— James Seyffart (@JSeyff) January 27, 2025
Uncommon Crypto ETF Filings
This submitting comes at a time when high asset managers are pushing for crypto ETF merchandise, As reported earlier, Grayscale and Coinshares applied for Litecoin ETF with the US SEC on January 24.
Tuttle Capital is just not the primary asset supervisor to file for a meme coin-backed ETF product. Rex-Osprey filed for Dogecoin ETF with the US SEC earlier this month, pioneering the motion. Different memecoins like BONK and TRUMP had been additionally featured within the Rex-Osprey submitting.
Whereas belongings not within the high 10, like Hedera, even have an ETF proposal from Canary Capital, consultants are skeptical in regards to the excessive volatility of memecoins for the filings to realize approval.
Destiny of Solana, XRP and Litecoin ETF Approval
It’s value noting that market analysts have projected that extra crypto ETF-related functions is perhaps underway.
Nevertheless, amid this hype, consultants consider Solana, XRP, and Litecoin ETF merchandise have higher approval odds. The Litecoin ETF proposed rule change from Canary Capital noticed its 19b-4 submitting lodged with the SEC earlier this month.
This submitting is likely one of the many with the prospect of approval alongside Solana and XRP, judging by their capitalization and decentralization.
Godfrey Benjamin
Benjamin Godfrey is a blockchain fanatic and journalists who relish writing about the actual life functions of blockchain know-how and improvements to drive common acceptance and worldwide integration of the rising know-how. His wishes to teach individuals about cryptocurrencies conjures up his contributions to famend blockchain based mostly media and websites. Benjamin Godfrey is a lover of sports activities and agriculture.
Disclaimer: The offered content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.
