World Funds Trust Submits 6 Bitcoin ETF Applications, Awaits For SEC Approval

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World Funds Trust has joined the exciting world of Bitcoin ETFs by applying for six of them with the U.S. Securities and Exchange Commission (SEC). Tuttle Capital takes the reins as the investment adviser for these funds, signaling a new contender in the race alongside big players like Blackrock and Fidelity.

World Funds Trust Bitcoin ETF Filings

On January 3, 2024, World Funds Trust officially filed for six spot Bitcoin ETF applications, each with Tuttle Capital serving as the investment adviser. These N1-A filings, consisting of three leveraged and three inverse BTC ETFs, add a fresh dynamic to the ongoing pursuit of the first-ever spot ETF approval in the United States. 

According to these filings, the proposed ETFs intend to use the iShares Spot Bitcoin ETF, filed by investment manager Blackrock.

Insights from Bloomberg Intelligence ETF analyst Henry Jim reveal that certain details, such as stock codes and fees, are pending determination. The scheduled effective date for these ETFs is March 18, 2024, adding an air of anticipation to the cryptocurrency market.

T-Rex Spot BTC Daily Target ETFs

World Funds Trust’s suite of Bitcoin ETF applications introduces a range of options, including T-REX 1.5X, 1.75X, and 2X Long Spot Bitcoin Daily Target ETFs, along with T-REX 1.5X, 1.75X, and 2X Inverse Spot Bitcoin Daily Target ETFs. 

These funds aim to provide investors with daily inverse leveraged or long leveraged investment results, offering different risk levels to suit varied investment preferences.

Blackrock ETF Awaited Decision

Although the T-Rex Spot BTC Daily Target ETF filings might be considered latecomers in comparison to industry peers, speculations are ripe that these applications, coupled with Blackrock’s involvement as a $9 trillion investment manager, could secure approval between January 8-10, 2024. 

World Funds Trust’s entry into the Bitcoin ETF space reflects the increasing interest in providing investors with diverse options for exposure to the cryptocurrency market. As more companies join, it means they want to offer more options for people who want to try investing in Bitcoin.