🤑 Leveraged ETFs for TRUMP, MELANIA, & Crypto Memes: Tuttle Capital’s Wild Ride! 🎢
What to know:
- ETF provider Tuttle Capital is daringly “testing the waters” with 2x leveraged ETF proposals for the crypto-loving Trump administration. 🌊
- Prepare for daily performance returns of tokens like TRUMP, MELANIA, Cardano, and others, thanks to swaps, call options, and direct investments. 📈📉
In a move that could make or break fortunes, Tuttle Capital Management has boldly proposed the first-ever ETFs tracking 200% returns of tokens including Chainlink (LINK), Cardano (ADA), Polkadot (DOT), Melania (MELANIA), XRP (XRP), Bonk (BONK), Solana (SOL), Litecoin (LTC), and Trump (TRUMP). 💰🚀
But beware, dear investors! These leveraged products can make you lose your entire capital if prices take a nosedive. 😱
As the filing warns, “Using leverage amplifies returns but also magnifies losses, with investors potentially losing their entire principal within a single trading day if the underlying asset’s value drops by more than 50%.” Ouch! 🤕
Altcoin markets are known for sudden 10% drops during times of market stress, meaning these ETFs could drop at least 20% before fees. 📉
Bloomberg Intelligence analyst James Seyffart sees these filings as a test of the Trump administration’s limits. “This is a case of issuers testing the limits of what this SEC is going to allow,” Seyffart said. “I’m expecting the new crypto task force (led by @HesterPeirce) to likely be the lynchpin in determining what’s gonna be allowed vs what isn’t.” 🔮
Bloomberg Intelligence analyst Eric Balchunas noted the unusual nature of the filings, particularly the 2x Melanie ETF before a 1x Melania ETF. “That is unusual,” he said. 🙄
These ETFs could technically be out in April unless explicitly disapproved by the SEC, thanks to the “Act 40” filing process. 🗓️
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2025-01-28 11:03