Mad Money host Jim Cramer has two new exchange-traded funds to his name after the television personality became infamous for his poor crypto investment tips.



Tuttle Capital Management, a US-based advisory firm, has filed a preliminary prospectus with the United States Securities and Exchange Commission (SEC) to launch Inverse Cramer ETF (SJIM) and Long Cramer ETF (LJIM).



SJIM to trade against Cramer’s advice



Each of the two funds forms part of a Northern Lights Fund Trust IV series. However, the prospectus is subject to completion and will come into effect on the regulator’s approval.



Once launched, the Inverse Cramer ETF will follow investment guidance that is the antithesis of Jim Cramer’s suggestions. This basically suggests that the investment outcomes will be roughly the opposite of what one would expect if one were to listen to the host.



The filing noted, “Under normal circumstances, at least 80% of the Fund’s investments [are] invested in the inverse of securities mentioned by Cramer.”



Further explaining that the adviser to the Fund is set to track Cramer’s stock picks and general market recommendations throughout the trading day as they are made public on Twitter or in his CNBC television programs, to either short those recommendations or engage in derivatives transactions like futures, options, or swaps that have a negative correlation to them.



“The Fund’s portfolio is comprised generally of 20 to 25 equally weighted equity securities of any market capitalization of domestic and foreign issuers,” the filing noted.




Finally happened: Cramer ETFs Inverse Cramer ETF $SJIM Long Cramer ETF $LJIM Eff Dec 19 20-25 equal-weighted stocks/ETFs based on Cramer's Twitter & TV recommendations and market views. Positions exited if Cramer has no view & once profit targets met. https://t.co/ZvA5G2zoTX pic.twitter.com/tY9yBMt15s — ETF Hearsay by Henry Jim (@ETFhearsay) October 5, 2022




The Long Cramer ETF will provide investment results that will track the results of the investments recommended by television personality Jim Cramer.



The funds also highlight risks associated with foreign securities, investment style, issuer, operations, market and geopolitics, portfolio turnover, and small and medium capitalization.



A checkered reputation



The 67-year-old CNBC host is a former hedge fund manager who has made people angry as he turned from a Bitcoin lover to a crypto skeptic within  a matter of 10 days.



In another instance, Cramer cautioned in July that the U.S. Securities and Exchange Commission might look into Coinbase, only for the cryptocurrency exchange price to skyrocket by 50% the following week.



In his latest prediction on Oct. 4, Cramer  said  that equity stocks would bottom fish in the coming weeks with a rally after that.



Since crypto recently swayed away from the highest ever correlation between the equity and digital asset markets, Bloomberg  noted  recently that the latter seems to outperform the former.
The post Jim Cramer Crypto Predictions Are So Wrong That Investors Proposed an Inverse ETF appeared first on BeInCrypto .