One well-known ETF creator filed to launch several leveraged Bitcoin ETFs – this, as cryptocurrency investors eagerly await a potential approval by the U.S. Securities and Exchange Commission (SEC) on Bitcoin ETFs.
What Happened: If you haven't heard the name Matthew Tuttle, chances are you've heard of the ETFs he helped launch — funds that took on Cathie Wood and Jim Cramer.
Tuttle, who is the CEO and Chief Investment Officer of Tuttle Capital Management, launched the AXS Short Innovation Daily ETF (NASDAQ:SARK) in November 2021, which seeks to have an inverse return from Wood's Ark Innovation ETF (NYSE:ARKK). The investment, in layman’s terms, ‘shorts’ or bets against other funds.
Tuttle made headlines again with the launch of the Inverse Cramer ETF (BATS:SJIM) in March 2023, which seeks to have an inverse return from Cramer's stock recommendations made on "Mad Money," CNBC programming and his tweets.
Earlier this week, Tuttle filed for six new Bitcoin ETFs. These are leveraged ETFs and inverse ETFs seeking to offer increased returns to investors based on the performance of the Bitcoin ETFs, which will track the performance of Bitcoin ...Full story available on Benzinga.com
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