PANews reported on May 9 that according to Bloomberg, Tidal Financial Group's Battleshares brand submitted an application to the US SEC, planning to launch two Bitcoin and gold hedge ETFs. The product will allow investors to directly bet on the relative performance of the two types of assets through tools such as shorting securities, swap contracts and options. Counterpoint chief strategist Dhaval Joshi believes that Bitcoin will gradually erode the market share of gold, and the long-term bullish BTC/short gold combination has more potential.
Gold has hit new highs this year due to safe-haven demand, while Bitcoin fell in tandem with risk assets during the tariff turmoil in April, but has recently rebounded strongly as the US digital financial policy has been promoted. Brent Donnelly, president of Spectra FX, pointed out that Bitcoin is still highly correlated with the Nasdaq 100 Index, while gold reflects the "short US" sentiment. Data shows that the four major gold ETFs have attracted more than $14 billion this year, and the top Bitcoin ETF has received $8 billion in inflows.
