Tuttle Capital Management is testing the waters of the crypto-friendly Trump administration with ten 2x leveraged ETF proposals submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, including ETFs that track Donald and Melania Trump’s official memecoins.

Tuttle aims to introduce ETFs that seek a 200% return from various tokens, including Chainlink (LINK), Cardano (ADA), Polkadot (DOT), Melania (MELANIA), XRP (XRP), Bonk (BONK), Solana (SOL), Litecoin (LTC), and Trump (TRUMP).

The daily performance returns of these tokens will be tracked and determined through swaps, call options, and direct investments, as stated in the filing. However, investors risk losing their entire investment if prices drop significantly due to the leveraged nature of these products.

“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%.”

“使用杠杆可以放大收益，但也会放大损失。若基础资产的价值在单个交易日内下跌超过50%，投资者可能会失去全部本金。”

While a 50% drop is uncommon, the altcoin market often sees sudden declines, as experienced recently. A 10% price drop could lead to a minimum 20% decrease in the ETFs, excluding fees.

Bloomberg Intelligence analyst James Seyffart stated in a post that the filings seem like a test of what regulations the Trump administration might impose.

“This is a case of issuers testing the limits of what this SEC is going to allow,” Seyffart remarked. Additionally, Eric Balchunas highlighted how it’s peculiar to propose a 2x Melanie ETF before a standard 1x version has been filed, noting the potential launch timeline if not rejected by the SEC.