"Wall Street Pushes for Bitcoin and Gold Duel ETF... New Product Filed with SEC"

U.S. ETF management company Tidal Financial Group plans to launch a dual-direction ETF product composed of long (buy) and short (sell) positions for Bitcoin and gold, respectively.

According to Bloomberg on the 9th (local time), Tidal has applied to the U.S. Securities and Exchange Commission (SEC) for a long-short structured ETF linking gold and Bitcoin in opposite positions. The product is set to be launched under Tidal's brand name Battleshares and is designed to allow betting on the yield difference between assets. For example, by investing in this ETF, investors automatically configure a position of buying Bitcoin and shorting gold.

Counterpoint's Chief Strategist Dhaval Joshi said, "Both Bitcoin and gold are asset classes that cannot be confiscated, and in the long term, Bitcoin will take market share from gold," adding, "The long BTC, short gold position is likely to trend upward, while the short BTC, long gold is likely to trend downward."

ByteTree's Chief Investment Officer Charlie Morris assessed, "Gold is a complementary asset that performs well during geopolitical crises, while Bitcoin is strong during risk-on periods," and "In the long term, Bitcoin may partially replace the role of gold."

Meanwhile, there is a skeptical view. Brent Donnelly of Spectra FX pointed out, "This ETF has a somewhat marketing nature, and by directly combining (BlackRock Bitcoin Spot ETF) IBIT and (Gold ETF) GLD, the same strategy can be implemented more cheaply."

The media added, "Gold has continuously hit record highs amid geopolitical uncertainty due to safe-haven demand, and Bitcoin has rebounded, surpassing $100,000 after adjustments," noting, "This ETF is a structured product surrounding the debate over which asset is the ultimate store of value between gold and Bitcoin."