BlockBeats News, May 9th, according to Bloomberg, Battleshares, a brand under Tidal Financial Group, has submitted an application to the U.S. SEC to launch two Bitcoin and gold hedged ETFs. The product will allow investors to directly bet on the relative performance of the two assets through tools such as short-selling securities, swap contracts, and options. Dhaval Joshi, Chief Strategist at Counterpoint, believes that Bitcoin will gradually erode the market share of gold, and in the long term, a combination of long BTC/short gold has more potential. This year, gold has repeatedly hit new highs due to safe-haven demand, while Bitcoin dropped in April turmoil along with risk assets, but has recently surged strongly following the advancement of U.S. digital financial policies.

Brent Donnelly, President of Spectra FX, pointed out that Bitcoin still has a high correlation with the Nasdaq 100 index, while gold more reflects the "short the U.S." sentiment. Data shows that the four major gold ETFs have attracted over $14 billion in inflows this year, while the top Bitcoin ETF has received $8 billion in inflows.