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.
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.”
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.
The potential debut of Tuttle’s ETFs follows a broader innovation trend in crypto-related financial products.
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.
