TSLA - EXCLUSIVE: The Man Who Shorts Cathie Wood And Jim Cramer Filed For New Bitcoin ETFs — Why Leveraged ETFs Are Investment Tool | Benzinga
Cryptocurrency investors are eagerly awaiting a potential approval by the U.S. Securities and Exchange Commission (SEC) on Bitcoin ETFs.
Meanwhile, one well-known ETF creator has filed to launch several leveraged 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).
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 (CRYPTO: BTC).
"The Funds seek daily inverse leveraged ...