Tidal Financial Group applies to the U.S. SEC to launch two ETFs hedging Bitcoin against gold

Odaily Planet Daily News Tidal Financial Group's Battleshares brand has submitted an application to the U.S. SEC to launch two ETFs that hedge Bitcoin against gold. This 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 gold's market share, and that a long position in BTC paired with a short position in gold has more potential in the long run. This year, gold has reached new highs due to safe-haven demand, while Bitcoin fell in April amid tariff turmoil, but has recently rebounded strongly as U.S. digital finance policies advance. Spectra FX President Brent Donnelly pointed out that Bitcoin remains highly correlated with the Nasdaq 100 index, while gold more reflects the sentiment of 'shorting America.' Data shows that this year, the top four gold ETFs have attracted over $14 billion, while leading Bitcoin ETFs have seen inflows of $8 billion. (Bloomberg)