Tidal Financial Group applies to the U.S. SEC to launch two ETFs to hedge Bitcoin against gold
According to online reports, the Battleleshares brand of Tidal Financial Group submitted an application with the US SEC 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 by shorting instruments such as securities, swaps and options. Counterpoint chief strategist Dhaval Joshi believes that Bitcoin will gradually erode gold market share, and the long-term bullish BTC/short gold combination has more potential.
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