Key Takeaways
- • Tuttle Capital Management filed with the SEC on October 21, 2026, through the ETF Opportunities Trust for a batch of 2x leveraged ETFs, including two Zcash-linked products and a 2x Asian Memory fund.
- • The Tuttle Capital 2X Long CYPH Daily Target ETF would track Cypherpunk Technologies Inc. (ticker CYPH), a company whose strategy is anchored predominantly by Zcash holdings rather than a pure Zcash vehicle.
- • The Tuttle Capital 2X Long WINK Daily Target ETF seeks double the daily return of the proposed Winklevoss Zcash ETF, which has not yet launched; Winklevoss Asset Services filed its S-1 on October 6, 2026.
- • Grayscale's spot Zcash ETF (ZCSH) launched on August 25, 2026 and reportedly gathered over $900M to $1B in assets quickly.
- • Both products reset daily, so their 2x exposure applies only to single-session moves, and the publication cautions that investors may face total loss of principal on volatile days.
Summary
Tuttle Capital Management has filed for a new batch of leveraged exchange-traded funds, according to the primary source, with the filings submitted to the SEC on October 21, 2026 through the ETF Opportunities Trust. The lineup includes a 2x Asian Memory fund alongside two Zcash-focused products, each targeting 200% of a benchmark's daily performance.
The first Zcash product, the Tuttle Capital 2X Long CYPH Daily Target ETF, tracks Cypherpunk Technologies Inc. (CYPH). The article notes that Cypherpunk is not a pure Zcash vehicle; its strategy is anchored predominantly by Zcash holdings. Because its returns depend on the company's share price, they may not move in lockstep with Zcash itself. Company stocks can trade at premiums or discounts to the value of their holdings, and a 2x fund on such a stock amplifies that gap as well as the Zcash exposure.
The second, the Tuttle Capital 2X Long WINK Daily Target ETF, aims to deliver double the daily return of the proposed Winklevoss Zcash ETF. That underlying product remains unlaunched. Winklevoss Asset Services filed an S-1 registration for it on October 6, 2026, roughly two weeks before Tuttle's filing. The leveraged fund's existence therefore depends on the underlying Winklevoss product reaching the market.
The filings build on Tuttle's prior leveraged crypto activity, which the article says includes Bitcoin ETFs launched in July 2024 and a series of crypto and meme token ETF proposals in 2025. The timing comes as Grayscale's spot Zcash ETF (ZCSH) launched on August 25, 2026 and quickly gathered over $900M to $1B in assets, according to the article.
The article explains the mechanics of daily target funds: a 2x product aims to move twice the benchmark's single-day return, and the multiple resets each session, so it does not translate into a multiple of longer-term returns. The publication warns that these products carry heightened risk, with potential total loss of principal on particularly volatile days, and describes daily leveraged funds as short-term trading tools.
The first Zcash product, the Tuttle Capital 2X Long CYPH Daily Target ETF, tracks Cypherpunk Technologies Inc. (CYPH). The article notes that Cypherpunk is not a pure Zcash vehicle; its strategy is anchored predominantly by Zcash holdings. Because its returns depend on the company's share price, they may not move in lockstep with Zcash itself. Company stocks can trade at premiums or discounts to the value of their holdings, and a 2x fund on such a stock amplifies that gap as well as the Zcash exposure.
The second, the Tuttle Capital 2X Long WINK Daily Target ETF, aims to deliver double the daily return of the proposed Winklevoss Zcash ETF. That underlying product remains unlaunched. Winklevoss Asset Services filed an S-1 registration for it on October 6, 2026, roughly two weeks before Tuttle's filing. The leveraged fund's existence therefore depends on the underlying Winklevoss product reaching the market.
The filings build on Tuttle's prior leveraged crypto activity, which the article says includes Bitcoin ETFs launched in July 2024 and a series of crypto and meme token ETF proposals in 2025. The timing comes as Grayscale's spot Zcash ETF (ZCSH) launched on August 25, 2026 and quickly gathered over $900M to $1B in assets, according to the article.
The article explains the mechanics of daily target funds: a 2x product aims to move twice the benchmark's single-day return, and the multiple resets each session, so it does not translate into a multiple of longer-term returns. The publication warns that these products carry heightened risk, with potential total loss of principal on particularly volatile days, and describes daily leveraged funds as short-term trading tools.
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