Tuttle Capital Management has submitted filings with the U.S. Securities and Exchange Commission (SEC) on September 16, 2025, seeking approval to launch a series of cryptocurrency Exchange Traded Funds (ETFs) focused on Bonk (BONK), Sui (SUI), and Litecoin (LTC). The proposed funds, named "Income Blast" ETFs, aim to provide investors with exposure to these cryptocurrencies while generating steady income through a sophisticated options strategy.
The strategy involves using put credit spreads with FLEX options to manage the inherent volatility of these assets. For Bonk, a Solana-based memecoin with a market capitalization exceeding $1.87 billion and 24-hour trading volume around $348 million, this approach is particularly significant. Bonk has recently seen a 4% price increase, trading at approximately $0.00002426, and is recognized as the second-largest memecoin. Similarly, Sui is trading at $3.59 (up 0.93%) and Litecoin at $115 (up 0.21%).
However, the filings face regulatory hurdles. The SEC has not yet approved any spot ETFs for altcoins, causing delays as the agency works on broader listing standards with major exchanges. Prominent ETF analysts Eric Balchunas and Nate Geraci have commented on the filings, with Geraci noting that "ETF floodgates are opening." Experts like James Seyffart have warned about the high-risk nature of Solana-based assets like Bonk, suggesting brokerages should issue warnings, though he acknowledged that market experimentation is essential.
Tuttle Capital is not the first to file for a Bonk ETF; Rex Shares and Osprey Funds have also submitted applications. However, Tuttle's unique approach of combining these assets in an income-focused strategy distinguishes it in the evolving crypto ETF landscape.