Tidal Financial Group applies to the US SEC to launch two Bitcoin and gold hedge ETFs

CoinRank News: Battleshares, a brand under Tidal Financial Group, has submitted an application to the U.S. SEC, planning to launch two ETFs that hedge Bitcoin and gold. The product will allow investors to directly bet on the relative performance of the two asset classes through tools such as shorting securities, swaps and options. Dhaval Joshi, chief strategist at Counterpoint, believes that Bitcoin will gradually erode the market share of gold, and the long-term bullish BTC/short gold combination has more potential. This year, gold has hit new highs due to safe-haven demand, while Bitcoin fell in tandem with risky assets during the tariff turmoil in April, but has recently rebounded strongly as the U.S. 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 sentiment of shorting the United States. 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. (Bloomberg)