STKD Bitcoin & Gold ETF: New horizons for investment in the USA
Date: 2024-07-01 Author: Henry Casey Categories: CRYPTO PAYMENTS
What is the new fund about?
Tidal Investments and Quantify Chaos Advisors announced the launch of a new exchange-traded fund (ETF) called the STKD Bitcoin & Gold ETF, offering investors exposure to both Bitcoin and gold without having to directly purchase these assets.
SEC Application Details
According to a filing with the U.S. Securities and Exchange Commission (SEC), the fund's managers plan to use a mix of low-correlation assets to reduce the impact of short-term market fluctuations on investment results. They expect this to provide a more stable investment trajectory.
The ETF will use leverage and direct funds into Bitcoin and gold futures and ETFs, rather than into the assets themselves. The fund's launch is scheduled for September 9 this year, but the ticker symbol and management fees were not disclosed in the document.
Market dynamics and previous experience
The largest gold ETF, SPDR Gold Trust (GLD), with a capitalization of $62 billion, is up 12.7% this year. Among BTC ETFs, BlackRock's IBIT leads the pack with $18.8 billion in assets and a 25.2% increase in unit value since trading began in January.
Previously, State Street and Galaxy Digital also announced plans to launch a crypto fund offering access to shares of cryptocurrency companies and ETFs.
The STKD Bitcoin & Gold ETF opens up new opportunities for investors looking to diversify their portfolio through cryptocurrencies and gold, while providing stability and potentially high returns with minimal risk.
