A proposed exchange-traded fund, which filed a prospectus on Thursday, seeks to give traders and investors exposure to both bitcoin and gold without having to buy either asset.
So, why would someone seek to invest in two assets that have not been historically correlated? The strategy is based on the idea that a combination of investing in a Bitcoin strategy and a gold strategy may provide complementary benefits, according to the preliminary SEC prospectus. The ETF will use leverage as it "stacks" the total return of holdings in the fund’s Bitcoin strategy together with the total return of holdings in the fund’s Gold strategy, according to the filing. The ETF will not invest directly in Bitcoin or other digital assets, nor will it invest in or seek direct exposure to the current spot price of Bitcoin, nor will it invest directly in gold or gold bullion.
The largest gold ETF by market cap, the SPDR Gold Trust , is up 12.7% this year. It has a market cap of $62 billion.
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