There is a big turning point in the crypto money market. Tuttle Capital Management applied 10 new leveled crypto ETF, including Chainlink (LINK), Cardano (Ada) and Polkadot (DOT). These applications are the first Chainlink and Cardano -oriented ETP initiative in the USA. How the SEC responds to these applications can shape the future of the crypto ETF market.
SEC, Breast Coin and Crypto ETF applications are facing applications!
Tuttle Capital applied for 10 different leveled crypto ETF on Monday. Bloomberg analyst James Seyffart announced this development via X (formerly twitter). Applications include Chainlink, Cardano and Polkadot, as well as new assets such as Benepit Protocol (BNP) and Melania Breast (Melania).
These ETFs aim to increase the daily returns of the assets they follow using financial derivatives and debts to 2X, 3X or more. Therefore, it offers great opportunities for investors and also carries a high risk. If the SEC approves these applications, a new era may begin in crypto investment products in the USA.
Will Trump and SEC’s new period of crypto ETF affect applications?
Applications coincided with a period of significant changes in the regulation environment in the US. Donald Trump’s second presidential chair and former SEC President Gary Gensler’s departure created a positive atmosphere in the crypto industry. The increase in the number of ETF applications is seen as a result of this change.
SEC’s attitude towards crypto ETFs will be shaped by the new crypto arrangement team led by Hester Peirce. Eric Balchunas from Bloomberg said that these ETF applications were made within the scope of 40 ACT and that if it is not explicitly rejected by the SEC, it could begin to be traded in April. This process will be a critical test for the future of crypto ETFs.
Does a new era begin for breast coin ETFs?
One of the most remarkable applications was to present the 2x Melania ETF before the standard 1x version. Although there are similar products in Europe, 2X Trump and 2x Melania ETFs came up for the first time in the USA. This move can be the harbinger of a new trend that will attract investors.
Finally, the ETF applications of Rex Shares for Trump, Bonk, Dogge, Bitcoin and Ethereum are carefully monitored by the market. Balchunas, Dogecoin and Trump ETF applications are not yet withdrawn, he said. The SEC’s response to these applications will determine whether more crypto ETF products can be released in the future.
