EXCLUSIVE: The Man Who Bets Against Cathie Wood, Jim Cramer Filed For New Bitcoin ETFs — How Leveraged ETFs Are An Investment Tool
Portfolio Pulse from Chris Katje
Matthew Tuttle, CEO of Tuttle Capital Management, has filed for six new leveraged and inverse Bitcoin ETFs. These ETFs are designed for short-term trading and are not recommended for non-active investors. Tuttle previously launched ETFs that bet against Cathie Wood's ARKK and Jim Cramer's stock recommendations. Additionally, Tuttle Capital launched leveraged and inverse ETFs for Tesla and NVIDIA in October 2023, with nearly $100 million in assets under management. Tuttle also introduced the SKRE ETF, which offers a leveraged inverse investment option against regional banks, following Cramer's recommendation of SVB Financial Group before its collapse.
January 04, 2024 | 9:29 pm
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NEGATIVE IMPACT
Tuttle's ETFs are designed to bet against ARKK, which could influence ARKK's performance if investors shift to these inverse options.
The creation of inverse ETFs targeting ARKK suggests that there could be increased betting against ARKK's performance, which may lead to downward pressure on ARKK's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The SKRE ETF offers a leveraged inverse investment against regional banks, which could impact KRE as it seeks to outperform it.
The introduction of the SKRE ETF, which is designed to provide 2x the inverse return of KRE, could attract investors looking to short regional banks, potentially leading to negative short-term effects on KRE's price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The launch of leveraged and inverse ETFs for NVIDIA by Tuttle Capital may influence NVDA's stock through increased speculative trading.
Similar to Tesla, the new NVIDIA ETFs could lead to heightened trading activity, but the direct short-term impact on NVDA's stock price is less clear due to various market factors and investor behaviors.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Tuttle Capital's leveraged and inverse ETFs for Tesla could attract investors interested in amplified bets on TSLA's performance.
While the leveraged and inverse ETFs for Tesla could lead to increased trading activity, the direct impact on TSLA's stock price is uncertain due to the diverse investor base and the complexity of factors affecting TSLA's stock.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50