New ETF Combines Digital and Physical Currency, Provides 100% Exposure to Bitcoin & 100% Exposure to Gold
The STKD Bitcoin & Gold ETF (BTGD) has launched, offering a unique investment vehicle that combines exposure to both bitcoin and gold. For every $1 invested, BTGD aims to provide 100% exposure to its bitcoin strategy and 100% exposure to its gold strategy. This 'stacked' approach is a new twist on portable alpha, potentially offering excess returns and diversification.
The ETF invests in bitcoin futures, gold futures, and related ETPs to capture the price returns of both assets. It's designed to provide exposure to two scarcity assets that may protect against future inflation and currency debasement. BTGD is actively managed and is the first ETF to combine bitcoin and gold in this manner.
The fund is a collaboration between Quantify Funds and returnstackedetfs.com (co-owned by Newfound Research & Resolve Asset Management SEZC). It aims to offer a solution for investors looking for both capital appreciation and portfolio hedging.
È stato lanciato il STKD Bitcoin & Gold ETF (BTGD), offrendo un veicolo d'investimento unico che combina l'esposizione a bitcoin e oro. Per ogni $1 investito, il BTGD mira a fornire 100% di esposizione alla sua strategia bitcoin e 100% di esposizione alla sua strategia oro. Questo approccio 'stacked' è una nuova interpretazione dell'alpha portatile, che potrebbe offrire rendimenti superiori e diversificazione.
L'ETF investe in futures su bitcoin, futures su oro e ETP correlati per catturare i ritorni di prezzo di entrambi gli asset. È progettato per fornire esposizione a due asset scarsi che possono proteggere contro l'inflazione futura e il deprezzamento della valuta. BTGD è gestito attivamente ed è il primo ETF a combinare bitcoin e oro in questo modo.
Il fondo è una collaborazione tra Quantify Funds e returnstackedetfs.com (co-proprietario di Newfound Research & Resolve Asset Management SEZC). Si propone di offrire una soluzione per gli investitori alla ricerca di apprezzamento del capitale e copertura del portafoglio.
Se ha lanzado el STKD Bitcoin & Gold ETF (BTGD), ofreciendo un vehículo de inversión único que combina la exposición a bitcoin y oro. Por cada $1 invertido, el BTGD busca proporcionar 100% de exposición a su estrategia de bitcoin y 100% de exposición a su estrategia de oro. Este enfoque 'apilado' es una nueva interpretación del alfa portátil, que podría ofrecer rendimientos excesivos y diversificación.
El ETF invierte en futuros de bitcoin, futuros de oro y ETPs relacionados para capturar los retornos de precios de ambos activos. Está diseñado para proporcionar exposición a dos activos escasos que pueden proteger contra la inflación futura y la devaluación de la moneda. BTGD es administrado activamente y es el primer ETF en combinar bitcoin y oro de esta manera.
El fondo es una colaboración entre Quantify Funds y returnstackedetfs.com (co-propiedad de Newfound Research & Resolve Asset Management SEZC). Su objetivo es ofrecer una solución para los inversores que buscan tanto apreciación de capital como cobertura de cartera.
STKD 비트코인 및 금 ETF (BTGD)가 출시되어 비트코인과 금 모두에 대한 노출을 결합한 독특한 투자 수단을 제공합니다. 투자한 $1마다 BTGD는 비트코인 전략에 100% 노출과 금 전략에 100% 노출을 목표로 합니다. 이 '스택형' 접근 방식은 휴대 가능한 알파에 대한 새로운 트위스트로, 초과 수익 및 다각화를 제공할 수 있습니다.
ETF는 비트코인 선물, 금 선물 및 관련 ETP에 투자하여 두 자산의 가격 수익을 포착합니다. 이는 미래의 인플레이션과 통화 평가절하로부터 보호할 수 있는 두 가지 희소 자산에 대한 노출을 제공하도록 설계되었습니다. BTGD는 적극적으로 관리되며 비트코인과 금을 이 방식으로 결합한 최초의 ETF입니다.
이 펀드는 Quantify Funds와 returnstackedetfs.com (Newfound Research & Resolve Asset Management SEZC가 공동 소유) 간의 협력입니다. 자본 증가와 포트폴리오 헤징을 모두 원하는 투자자에게 솔루션을 제공하는 것을 목표로 합니다.
Le STKD Bitcoin & Gold ETF (BTGD) a été lancé, offrant un véhicule d'investissement unique qui combine l'exposition à bitcoin et à l'or. Pour chaque $1 investi, le BTGD vise à fournir 100% d'exposition à sa stratégie bitcoin et 100% d'exposition à sa stratégie or. Cette approche 'empilée' est une nouvelle interprétation de l'alpha portable, offrant potentiellement des rendements excessifs et une diversification.
L'ETF investit dans des futures bitcoin, des futures or et des ETP associés pour capturer les rendements de prix des deux actifs. Il est conçu pour fournir une exposition à deux actifs rares qui peuvent protéger contre l'inflation future et la dévaluation de la monnaie. BTGD est géré activement et est le premier ETF à combiner bitcoin et or de cette manière.
Le fonds est une collaboration entre Quantify Funds et returnstackedetfs.com (co-proprié par Newfound Research & Resolve Asset Management SEZC). Il a pour but d'offrir une solution aux investisseurs cherchant à la fois une appréciation du capital et une couverture de portefeuille.
Der STKD Bitcoin & Gold ETF (BTGD) wurde lanciert und bietet ein einzigartiges Anlagevehikel, das eine Kombination aus Bitcoin und Gold bietet. Für jeden investierten $1 zielt der BTGD darauf ab, 100%ige Exponierung auf seine Bitcoin-Strategie und 100%ige Exponierung auf seine Gold-Strategie zu bieten. Dieser 'gestapelte' Ansatz ist eine neue Wendung des tragbaren Alpha, das möglicherweise überdurchschnittliche Renditen und Diversifizierung bietet.
Der ETF investiert in Bitcoin-Futures, Gold-Futures und verwandte ETPs, um die Preisrenditen beider Vermögenswerte zu erfassen. Er ist darauf ausgelegt, eine Exponierung gegenüber zwei knappen Assets zu bieten, die möglicherweise gegen zukünftige Inflation und Abwertung der Währung schützen. BTGD wird aktiv verwaltet und ist der erste ETF, der Bitcoin und Gold auf diese Weise kombiniert.
Der Fonds ist eine Zusammenarbeit zwischen Quantify Funds und returnstackedetfs.com (mitbeteiligt an Newfound Research & Resolve Asset Management SEZC). Er zielt darauf ab, eine Lösung für Anleger anzubieten, die sowohl Kapitalwachstum als auch Portfolioabsicherung suchen.
- Unique ETF offering 100% exposure to both bitcoin and gold strategies for every $1 invested
- Potential for excess returns and diversification through the 'stacked' approach
- Aims to protect against future inflation and currency debasement
- First ETF to combine bitcoin and gold in a 'stacked' approach
- Actively managed by experienced investment professionals
- Does not invest directly in bitcoin or gold, only in futures and ETPs
- Potential risks associated with futures contracts and ETPs
- Performance may not directly track spot prices of bitcoin or gold
Insights
The launch of the STKD Bitcoin & Gold ETF (BTGD) represents a significant innovation in the ETF space, offering investors a unique way to gain exposure to both bitcoin and gold simultaneously. This "stacked" approach, providing 100% exposure to both assets for every $1 invested, is a novel twist on portable alpha strategies.
The fund's structure could appeal to investors seeking inflation hedges and portfolio diversification. However, it's important to note that the ETF doesn't invest directly in bitcoin or physical gold, but rather in futures and ETPs, which may introduce tracking error and additional complexity.
While the concept is innovative, investors should carefully consider the potential risks, including the volatility of bitcoin, regulatory uncertainties and the complexities of futures-based strategies. The active management approach may also lead to higher fees compared to traditional single-asset ETFs.
Overall, this ETF could be an interesting tool for sophisticated investors looking for capital-efficient exposure to both bitcoin and gold, but it may not be suitable for all portfolios due to its complex structure and potential risks.
The STKD Bitcoin & Gold ETF (BTGD) enters a market where interest in both bitcoin and gold as inflation hedges and portfolio diversifiers is high. This product uniquely addresses the "bitcoin vs. gold" debate by offering exposure to both, potentially appealing to investors who see value in both assets.
Market reception will likely depend on several factors:
- Education: The complex structure may require significant investor education.
- Performance: How well the fund tracks its underlying assets will be crucial.
- Fee structure: Given the active management, fees will be a key consideration for investors.
- Regulatory environment: Any changes in cryptocurrency regulations could impact the fund's strategy.
The ETF's success could pave the way for more "stacked" products in the future, potentially reshaping how thematic ETFs are structured. However, its complexity may limit initial adoption to more sophisticated investors or those specifically seeking this dual exposure.
The STKD Bitcoin & Gold ETF (BTGD) offers 2-for-1 Thematic Stacks, a new twist on portable alpha, “stacking” two investments on top of each other for the potential of excess returns and diversification
BTGD is unique in that for every
STKD, short for Stacked, is a licensed brand in partnership with returnstackedetfs.com (co-owned by Newfound Research & Resolve Asset Management SEZC), specializing in offering access to two assets simultaneously, stacked on top of each other with a common investable theme that displays positive diversification benefits. STKD is a new twist on portable alpha, which refers to the approach of stacking two investments on top of each other, allowing for the potential of excess returns and helping investors better unlock sources of diversification for their portfolio.
Since bitcoin emerged more than a decade ago as “a digital currency,” “a speculative asset,” “a store of value” and every other label that has since been appended to what is undeniably one of the most consequential financial developments of the 21st century, one of the more heavily debated narratives has been that of “bitcoin vs. gold” when it comes to building a broader multi-asset portfolio, but a discussion built on “versus” misses the larger role that both assets can play for those investors looking for a mix of capital appreciation and portfolio hedging.
The brainchild of Quantify Funds, an asset management firm focused on bringing institutional-quality investment strategies to the broader marketplace, BTGD is actively managed and is the first ETF to bring bitcoin and gold together in a “stacked” approach, achieving more than
“We’re very pleased to be partnering with returnstackedetfs.com (co-owned by Newfound Research & Resolve Asset Management SEZC), Corey Hoffstein, Mike Philbrick, Rodrigo Gordillo and Adam Butler and their teams to bring this strategy to market in an ETF wrapper for the very first time,” said David Dziekanski, CEO & CIO with Quantify Funds, and one of the ETF’s Portfolio Managers. “We’re thrilled to be bringing this new fund to market and are very excited to connect with advisors, institutions and others to educate them about the role stacked exposure to bitcoin and gold can play in a well-constructed, capital-efficient portfolio.”
More information on BTGD, including a fact sheet and additional information, can be found at: https://quantifyfunds.com/
The Fund does not invest directly in bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of bitcoin. Investors seeking direct exposure to the price of bitcoin should consider an investment other than the Fund.
The Fund does not invest directly in gold or gold bullion. Investors seeking direct exposure to the price of gold should consider an investment other than the Fund.
About Quantify Funds
Quantify Funds is an asset management firm focused on providing institutional-quality investment strategies to a broad range of investors. The firm focuses on actively managed strategies that can appeal to investors seeking portfolio diversification. For more information, visit https://quantifyfunds.com/.
Important Disclosures
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. Please read the prospectus or summary prospectus carefully before you invest.
Bitcoin Investment Risks.
The Fund’s indirect investment in bitcoin, through futures contracts and Underlying Funds, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.
Not being a legal tender and operating outside central authority systems like banks, bitcoin faces potential government restrictions. The value of bitcoin has historically been subject to significant speculation, making trading and investing in bitcoin reliant on market sentiment rather than traditional fundamental analysis.
Digital Assets Risk: Digital assets like bitcoin, designed as mediums of exchange, are still an emerging asset class and are not presently widely used as such. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.
Blockchain Technology Risk: Blockchain technology, which underpins bitcoin and other digital assets, is relatively new, and many of its applications are untested. The adoption of blockchain and the development of competing platforms or technologies could affect its usage.
Gold Investment Risks. The Fund will not invest directly in gold but will gain exposure through gold futures contracts and Underlying Funds. These investments are subject to significant risk due to the inherent volatility and unpredictability of the commodities markets. The value of these investments is typically derived from the price movements of physical gold or related economic variables.
Derivatives Risks. The Fund’s derivative investments carry risks such as an imperfect match between the derivative’s performance and its underlying assets or index, and the potential for loss of principal, which can exceed the initial investment.
Underlying Fund Risk. The Fund’s investment strategy, involving indirect exposure to bitcoin and gold through one or more Underlying Funds, is subject to the risks associated with bitcoin as well as gold. Shareholders in the Fund bear both their proportionate share of expenses in the Fund and, indirectly, the expenses of the Underlying Funds.
Potentially No 1940 Act Protections. It is expected that one or more Underlying Funds will not be registered as an investment company subject to the 1940 Act. In addition, Underlying Funds that invest directly in bitcoin or gold are not subject to the 1940 Act. Accordingly, investors in such an Underlying Fund would not have the protections expressly provided by that statute.
Cayman Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. The futures contracts and other investments held by the Subsidiary are subject to the same economic risks that apply to similar investments if held directly by the Fund.
General Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Distributed by Foreside Fund Services, LLC.
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Media:
Chris Sullivan
Craft & Capital
chris@craftandcapital.com
Source: Quantify Funds
FAQ
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