Tuttle Capital LLC, a New York-based firm, has filed six applications with the Securities and Exchange Commission (SEC) for the establishment of six Leveraged and Inverse Bitcoin ETFs (exchange-traded funds). Although the firm hasn’t revealed its fund names yet, the SEC documents suggest the new products will offer exposure to bitcoin prices with 2x and 3x leverage, along with (-1x) inverse exposure.

The proposed ETFs are designed to provide investors with a convenient way to access the cryptocurrency market with the ability to both amplify and reduce long positions. The funds may, however, be riskier than unleveraged funds due to the leverage in each fund.

The application includes six registration statements and six proposal summaries with detailed features of each proposed fund. The SEC will review the applications and will make a decision about whether to register the exchange-traded products.

According to SEC documents, each Exchange Traded Fund will track the value of Bitcoin over a daily trading period. They will track the bitcoin spot rate as calculated by a major cryptocurrency index or price provider. Each fund will also adjust leverage daily.

Tuttle Capital’s ETF announcement is the latest in a flurry of filings by cryptocurrency exchanges and funds in preparation for a potential filing for a Bitcoin ETF with the SEC. The SEC has yet to approve an ETF for Bitcoin, but the agency is expected to review and decide on the new applications soon.

If the SEC approves the ETFs, it will open up a new way for investors to gain exposure to cryptocurrency prices. This may attract new investors to the crypto markets and increase the overall trading volume. It would also provide a much needed boost to the currently sluggish crypto market, and increase investor confidence in the long-term sustainability of digital assets.