On May 9, PANews reported that Battleshares, a brand under Tidal Financial Group, 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/short position in gold has more potential in the long term.
This year, gold has reached new highs due to safe-haven demand, while Bitcoin has fallen in sync with risk assets during the tariff turmoil in April, but has recently rebounded strongly with the advancement of U.S. digital finance policies. Brent Donnelly, President of Spectra FX, 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 four major gold ETFs have attracted over $14 billion, while the leading Bitcoin ETF has seen an inflow of $8 billion.
