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Bitwise Debuts Bitcoin and Gold ETP in Europe
The Bitwise Diaman Bitcoin & Gold ETP (BTCG), which commenced trading on Euronext Paris and Amsterdam on Thursday, replicates the Diaman Bitcoin and Gold Index
What to know:
- Bitwise has unveiled an exchange-traded product (ETP) tracking bitcoin and gold.
- The Bitwise Diaman Bitcoin & Gold ETP (BTCG) replicates the Diaman Bitcoin and Gold Index, which dynamically reallocates value between BTC and gold, depending on the risk-adjusted performance of bitcoin.
Asset manager Bitwise has unveiled an exchange-traded product (ETP) tracking bitcoin (BTC) and gold.
The Bitwise Diaman Bitcoin & Gold ETP (BTCG), which commenced trading on Euronext Paris and Amsterdam on Thursday, replicates the Diaman Bitcoin and Gold Index.
STORY CONTINUES BELOW
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The index dynamically reallocates value between BTC and gold, depending on the risk-adjusted performance of bitcoin, thus taking advantage of cyclical trends between risk-on and risk-off behavior in financial markets.
While bitcoin is often described as a form of digital gold, it often tracks risk assets like tech stocks rather than the yellow metal.
For example, gold ascended to record highs in February amid concerns about U.S. President Trump's tariff plans. BTC, on the other hand, fell nearly 17%.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
