Strive and Tuttle have filed for a leveraged Bitcoin ETF. Here is what the filing signals, what to watch next, and why the product matters.
Strive and Tuttle Capital Management have filed for a leveraged Bitcoin ETF through a prospectus submitted to the SEC on March 30, 2026, proposing a new fund that would gain bitcoin exposure not through direct holdings but through preferred equity securities issued by bitcoin treasury companies.
The filing, made under ETF Opportunities Trust, introduces the T-Strive Digital Credit ETF with a proposed ticker of DGCR. Strive Asset Management, a wholly owned subsidiary of Strive, Inc., is named as the fund’s sub-adviser in the registration statement.
What the filing actually proposes
Despite headlines framing this as a leveraged Bitcoin ETF, the fund’s stated strategy is narrower. The prospectus describes an actively managed fund seeking current income through preferred equity securities issued by bitcoin treasury companies, combined with derivative transactions.
The filing specifies that the fund expects to focus principally on Strategy’s STRC preferred stock and Strive’s SATA preferred stock. Leverage would be used primarily to increase the fund’s exposure to income generated by these digital credit preferred securities, not to amplify direct bitcoin price movements.
Secondary coverage confirms the fund will not invest directly in bitcoin. Instead, DGCR would provide indirect exposure through corporate securities and derivatives tied to companies that hold bitcoin on their balance sheets. The proposed listing venue is the Cboe exchange, according to reporting that cites the prospectus language.
A filing does not mean approval. The registration statement has been submitted but is not yet effective, meaning the ETF’s securities cannot yet be sold and offers to purchase cannot yet be accepted.
Why a leveraged digital credit ETF stands out
Leveraged exposure in the ETF world means using borrowed capital, swaps, or other derivatives to amplify returns beyond what a dollar-for-dollar investment would produce. In this case, the leverage targets income from preferred shares rather than spot bitcoin price gains.
That distinction matters. Most bitcoin ETF products on the market or in regulatory pipelines seek to track bitcoin’s price directly or through futures contracts. DGCR would sit in a different category, functioning more like a leveraged income fund with bitcoin-adjacent collateral than a traditional cryptocurrency ETF.
The structure also introduces layered risk. Investors would face exposure to the creditworthiness of the issuing companies, the performance of their preferred stock, the fund’s use of derivatives and leverage, and the indirect link to bitcoin’s price, all in a single product. The approach reflects a growing trend of financial products that orbit bitcoin without holding it directly, similar to how new token structures are expanding bitcoin’s utility in adjacent financial layers.
Market backdrop and what to watch next
The filing arrives during a period of broad risk-off sentiment. Bitcoin traded at $66,884 at the time of reporting, down 2.25% over the previous 24 hours. The crypto Fear & Greed Index sat at 9, deep in “Extreme Fear” territory.
Whether that backdrop helps or hurts DGCR’s prospects is an open question. Leveraged products tied to bitcoin-linked equities could attract interest from yield-seeking investors frustrated by spot price stagnation, or they could face skepticism in a fearful market where complex structures draw extra scrutiny.
The immediate next step is the SEC’s review of the registration statement. Until the filing becomes effective, no shares can be offered or sold. No public timetable has been set for regulatory action on DGCR. Investors and market watchers tracking regulatory developments should monitor SEC filings under ETF Opportunities Trust for updates on effectiveness or comment periods.
The structural details of the fund, including fee schedules, leverage limits, and risk disclosures, will become clearer as the registration process advances. For now, the filing establishes that Strive and Tuttle are pursuing a leveraged income strategy built on bitcoin treasury company preferreds, a product category that did not exist a year ago.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
