4-[3-(1-Pyrenyl)propylcarbonyloxy]-1-butyne (PyB) and 4-ferrocenylcarbonyloxy-1-butyne (FcB) were effectively polymerized by zwitterionic rhodium complex Rh+(nbd)[C6H5B-(C6H5)(3)], giving corresponding polymers PPyB and PFcB with high molecular weights (M-w up to 33300) in high yields (up to 83%). The polymers are excellent solvating agents in making carbon nanotubes (CNTs) soluble in common organic solvents. The salvation is aided by the wrapping or coating of CNTs by the polymers through strong electronic interactions between the aromatic pendants and the CNT shells. A pronounced "polymer effect" was observed in the solvating process: the polymers showed much higher solvating power than their monomers. The polymers endowed the CNTs with functional properties: the PPyB/CNT and PFcB/CNT hybrids were light-emitting and redox-active, respectively.