In a recent filing with US regulators, Tuttle Capital Management and REX Shares have proposed launching double-leveraged single-stock exchange-traded funds (ETFs) that track the daily returns of Tesla Inc. The T-Rex 2X Long Tesla Daily Target ETF and its sister fund, the T-Rex 2X Inverse Tesla Daily Target ETF, would be the first double-leveraged Tesla-focused single-stock ETFs to trade in the US market if launched. Tuttle and REX Shares have also applied for funds that track the performance of chipmaker Nvidia Corp.
ETF Newz Says:
The SEC has previously expressed concern over leveraged single-stock ETFs, and it is not clear if the proposed ETFs would comply with the regulator's rules.