Friday, December 8, 2023

Tuttle Capital Management Files for Two New Cramer ETFs with US’s SEC.

Tuttle Capital Management, a Connecticut-based advisory firm, has submitted a preliminary prospectus filing with the US Securities and Exchange Commission for two new exchange-traded funds (ETFs).

The ETFs are based on betting against the investment tips from Jim Cramer, the host of CNBC’s Mad Money. He has become a popular meme in the crypto and stock community with his uncanny knack for giving investment tips that end up being way off the mark. One of Cramer’s most noteworthy tips was to buy Coinbase stock when it was “cheap” at $248 in August 2021. But since then, COIN has continued to collapse. At the time of writing this article, COIN was trading at $72.97 down by 2.05%.

If the ETF filing is given the go-ahead, Tuttle Capital Management will launch a short ETF named Inverse Cramer ETF (SJIM) and a long ETF called Long Cramer ETF (LJIM). The investment objective, as per the firm’s filing, is to provide investment results that are approximately the opposite of, before fees and expenses, the results of the investments recommended by Jim Cramer. Tuttle Capital will take the opposite position, to select the weighting of each ETF, of whatever the television host publicly takes on CNBC or Twitter. Moreover, the ETF will be purely stock-based and not crypto assets. According to the filing, at least 80% of the Fund’s investments are invested in the inverse of securities mentioned by Cramer.

Eric Balchunas, Bloomberg’s senior ETF analyst, was unsurprised by Tuttle Capital Management’s SEC filing. He tweeted that he saw this coming back in February. Balchunas said back in February they had written about how Inverse Cramer ETF would likely be filed at some point. The expert highlighted that this isn’t a big stretch. Balchunas added that ETFs are tied to big personalities, not unprecedented such as $SARK $TSLQ. In August, Twitter-famous crypto trader Algod doubled his Inverse Cramer portfolio in a month to more than $100,000 purely by trading against Cramer’s tips.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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