Tidal Financial Group applies to U.S. SEC for launching two Bitcoin and gold hedged ETFs

TechFlow, May 9 — According to Bloomberg, Tidal Financial Group’s Battleshares brand has filed an application with the U.S. SEC to launch two ETFs that hedge bitcoin against gold.

The products will allow investors to directly bet on the relative performance of the two assets through shorting securities, swap contracts, and options. Dhaval Joshi, Chief Strategist at Counterpoint, believes bitcoin will gradually erode gold's market share, making a long-BTC/short-gold position more promising in the long term.